Target Hospitality climbs after lifting annual revenue outlook
TH•Stock performance
As of the last close, the stock has more than doubled year to date.
Quarterly revenue beats estimates
Target Hospitality posted Q2 revenue of $86 million, beating analysts' estimates of $79.3 million, according to data compiled by LSEG.
Shares rise after revenue outlook increase
Shares of workforce accommodation company Target Hospitality rose 9.4% to $18.07 premarket after the company raised its FY26 revenue forecast to $410 million to $420 million, from a prior forecast of $370 million to $380 million.
Contract awards and credit facility support growth pipeline
The company announced more than $1.4 billion in multi-year contract awards, representing over 9,000 beds in its Workforce Hospitality Solutions segment. CEO Brad Archer said Target Hospitality is positioned to pursue its largest ever growth pipeline after securing a new $660 million credit facility.
