Target Hospitality Rises In Pre-market After Q4 Results Beat Estimates; Guides FY Revenue Above View

(RTTNews) - Shares of Target Hospitality Corp. (TH) are rising more than 14 percent in pre-market on Wednesday at $9.76, after reporting better-than-expected fourth-quarter results. The company's full-year revenue outlook also came in above the consensus estimate.

Net income for the fourth quarter declined to $37.84 million or $0.29 per share from $31.57 million or $0.31 per share last year, but beat the average estimate of analysts polled by Thomson-Reuters of $0.24 per share.

Revenue for the quarter was $126.22 million compared with $152.44 million last year. The consensus estimate was for $118 million.

For fiscal 2024, the company now sees revenue in the range of $410 million - $425 million, above the Street view of $409.67 million.

Target Hospitality shares had closed at $8.54, up 0.35 percent on Tuesday. The stock has been trading in the range of $8.49 - $17.34 in the last 1 year.