Why Target Hospitality's Shares Are Surging On Thursday
Why Target Hospitality's Shares Are Surging On Thursday
Shares of accommodations and hospitality services provider Target Hospitality Corp. (NASDAQ:TH) are trading higher after the company provided a business update and revised its 2024 outlook following the termination of a significant contract.
住宿和酒店服务提供商Target Hospitality Corp. (纳斯达克代码：TH) 的股票在公司提供业务更新和在终止重要合同后修订了2024年前景后交易上涨。
Recently, the U.S. government notified Target Hospitality that the South Texas Family Residential Center (STFRC) contract will end on August 9, 2024. This contract contributed approximately $55.9 million to Target Hospitality's revenue in 2023.
最近，美国政府通知Target Hospitality，南德克萨斯家庭住宅中心(STFRC)合同将于2024年8月9日终止。该合同为Target Hospitality在2023年的营业收入贡献了约$ 55.9百万美元。
With the STFRC contract termination and other factors, Target Hospitality updated 2024 financial projections, with total revenue of $375 million – $385 million (consensus $396.10 million), down from the previous view of $410 million – $425 million, adjusted EBITDA of $184 million – $190 million (prior $195 million – $210 million), and capital spending of $25 million – $30 million, excluding acquisitions.
随着STFRC合同的终止和其他因素的影响，Target Hospitality更新了2024年的财务预测，总收入为3.75亿美元至3.85亿美元(预计为3.961亿美元)，低于之前的预测范围，为4.1亿美元至4.25亿美元，调整后的EBITDA为1.84亿美元至1.9亿美元(先前为1.95亿美元至2.1亿美元)，资本支出为2500万至3000万美元，不包括收购。
The Pecos Children's Center (PCC) contract renewal is expected in November 2024, though Target Hospitality has excluded variable revenue from PCC in its revised outlook due to the fluctuating community population.
普莱科斯儿童中心(PCC)的合同续签预计将在2024年11月，但由于社区人口波动，Target Hospitality在其修订后的前景中排除了可变营业收入。
Target Hospitality anticipates zero net debt by the end of 2024, with over $350 million in total available liquidity.
Target Hospitality预计到2024年末将零净债务，总可用流动性超过3.5亿美元。
As of May-end, Target Hospitality had $147 million in cash and no outstanding borrowings on its $175 million credit facility, resulting in a net leverage ratio of 0.1 times.
截至五月末，Target Hospitality拥有1.47亿美元的现金，其175 million美元信贷额度未使用，净杠杆比率为0.1倍。
On March 25, 2024, Target Hospitality received an unsolicited proposal from Arrow Holdings S.àr.l., an affiliate of TDR Capital LLP, to acquire all outstanding shares for $10.80 per share.
2024年3月25日，Target Hospitality收到了Arrow Holdings S.àr.l.的非约请收购提议，Arrow Holdings S.àr.l.是TDR Capital LLP的附属公司，出价每股10.8美元。
A special committee of independent directors is currently reviewing the proposal with the assistance of financial and legal advisors. No decision has been made, and there is no assurance that a transaction will occur.
独立董事会成立了一个特别委员会，协助金融和法律顾问审查提议。目前尚未做出决定，也不能保证交易将发生。
Price Action: TH shares are trading higher by 9.85% at $8.14 at last check Thursday.
TH股票在上周四最后交易时上涨9.85%，为8.14美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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