Why Target Hospitality's Shares Are Surging On Thursday
Why Target Hospitality's Shares Are Surging On Thursday
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.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.
住宿和酒店服務提供商Target Hospitality Corp. (納斯達克代碼：TH) 的股票在公司提供業務更新和在終止重要合同後修訂了2024年前景後交易上漲。
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 $55.9 million to Target Hospitality's revenue in 2023.
最近，美國政府通知Target Hospitality，南德克薩斯家庭住宅中心(STFRC)合同將於2024年8月9日終止。該合同爲Target Hospitality在2023年的營業收入貢獻了約$ 55.9百萬美元。
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.
隨着STFRC合同的終止和其他因素的影響，Target Hospitality更新了2024年的財務預測，總收入爲3.75億美元至3.85億美元(預計爲3.961億美元)，低於之前的預測範圍，爲4.1億美元至4.25億美元，調整後的EBITDA爲1.84億美元至1.9億美元(先前爲1.95億美元至2.1億美元)，資本支出爲2500萬至3000萬美元，不包括收購。
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.
普萊科斯兒童中心(PCC)的合同續簽預計將在2024年11月，但由於社區人口波動，Target Hospitality在其修訂後的前景中排除了可變營業收入。
Target Hospitality anticipates zero net debt by the end of 2024, with over $350 million in total available liquidity.
Target Hospitality預計到2024年末將零淨債務，總可用流動性超過3.5億美元。
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擁有1.47億美元的現金，其175 million美元信貸額度未使用，淨槓桿比率爲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.的非約請收購提議，Arrow Holdings S.àr.l.是TDR Capital LLP的附屬公司，出價每股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.
獨立董事會成立了一個特別委員會，協助金融和法律顧問審查提議。目前尚未做出決定，也不能保證交易將發生。
Price Action: TH shares are trading higher by 9.85% at $8.14 at last check Thursday.
TH股票在上週四最後交易時上漲9.85%，爲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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譯文內容由第三人軟體翻譯。