Target Hospitality Q3 Earnings & Revenues Beat Estimates, Fall Y/Y

Zacks11-13 23:42

Target Hospitality Corp. TH reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis. ...

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However, the top and bottom lines declined on a year-over-year basis.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/target-hospitality-q3-earnings-revenues-154200127.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Target Hospitality Q3 Earnings & Revenues Beat Estimates, Fall Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTarget Hospitality Q3 Earnings & Revenues Beat Estimates, Fall Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 23:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/target-hospitality-q3-earnings-revenues-154200127.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Target Hospitality Corp. TH reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/target-hospitality-q3-earnings-revenues-154200127.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"THWWW","symbol_name":"Target Hospitality Equity Warrants Exp 15 March 2024","start_time":0,"source_url":"https://finance.yahoo.com/news/target-hospitality-q3-earnings-revenues-154200127.html","article_id":"2483183458","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/2osTdaZSHf_5LJmwZzjWtw--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/32e3eb8c0cc46c163964cde251fb4426"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483183458","pubTimestamp":1731512520,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Target Hospitality Corp. TH reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Following the results, the company's shares gained 6.8% during trading hours yesterday. Positive investor sentiments were witnessed as the company reported strong customer demand and a high degree of revenue visibility. TH is pursuing both organic growth and selective inorganic opportunities aligned with its core competencies, all while prioritizing disciplined capital use. The company aims to achieve zero net debt by 2024 end.Target Hospitality Corp. Price, Consensus and EPS Surprise. Target Hospitality Corp. price-consensus-eps-surprise-chart | Target Hospitality Corp. Quote. Adjusted EBITDA during the quarter came in at $49.7 million compared with $95","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"THWWW":"Target Hospitality Equity Warrants Exp 15 March 2024","RCL":"皇家加勒比邮轮","HLT":"希尔顿酒店","TH":"Target Hospitality Corp."},"translate_title":"塔吉特酒店第三季度盈利和收入超出预期，同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HLT":0.9,"RCL":0.9,"TH":0.9,"THWWW":0.9},"content_text":"Target Hospitality Corp. TH reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.\nFollowing the results, the company's shares gained 6.8% during trading hours yesterday. Positive investor sentiments were witnessed as the company reported strong customer demand and a high degree of revenue visibility. TH is pursuing both organic growth and selective inorganic opportunities aligned with its core competencies, all while prioritizing disciplined capital use. The company aims to achieve zero net debt by 2024 end.\nTH’s Q3 Earnings and Revenues\nIn the quarter under review, the company reported an adjusted earnings per share (EPS) of 20 cents, beating the Zacks Consensus Estimate of 12 cents per share. In the prior-year quarter, the company reported an adjusted EPS of 43 cents.Total revenues of $95.2 million beat the consensus estimate of $88 million by 8.3%. However, the top line declined 34.8% year over year.\n\nTarget Hospitality Corp. Price, Consensus and EPS Surprise\n\nTarget Hospitality Corp. price-consensus-eps-surprise-chart | Target Hospitality Corp. Quote\n\nTH Segments Discussion\nGovernment: During the quarter, revenues in this segment amounted to $53.5 million, compared with $105.5 million reported in the year-ago quarter. The segment's adjusted gross profit came in at $46.3 million compared with $90.5 million reported in the prior-year quarter.The declines were largely due to the non-cash, one-time Infrastructure Revenue Amortization related to the Company’s PCC community, which was fully amortized by November 2023. Additionally, the lower PCC minimum lease and variable services revenues and the termination of the STFRC Contract (on Aug. 9, 2024) added to the downside.\nHospitality & Facilities Services - South: During the third quarter, revenues in this segment amounted to $38 million compared with $37.5 million reported in the year-ago quarter.\nDuring the quarter, average utilized beds came in at 5,614 compared with 5,342 reported in the prior-year quarter. The average daily rate came in at $72.96 compared with $75.71 reported in the prior-year quarter. The upside was backed by the company’s premier service offering. The segment's adjusted gross profit came in at $12.3 million compared with $14.1 million reported in the prior-year quarter.\nAll Other: Revenues of this segment amounted to $3.7 million, compared with $2.9 million reported in the year-ago quarter.\nTH’s Operating Highlights\nDuring the third quarter of 2024, the company’s selling, general and administrative expenses amounted to $13.3 million compared with $15.3 million reported in the prior-year period.\nNet income during the quarter came in at $20.1 million compared with $45.6 million reported in the prior-year quarter.\nAdjusted EBITDA during the quarter came in at $49.7 million compared with $95 million reported in the prior-year quarter.\nBalance Sheet\nAs of Sept. 30, 2024, TH’s cash and cash equivalents amounted to $177.7 million compared with $103.9 million as of Dec. 31, 2023.\nTH’s 2024 Outlook\nIn 2024, the company anticipates revenues in the range of $375 to $385 million. The company expects adjusted EBITDA to be in the range of $184-$190 million. TH expects total capital spending in 2024 to be in the range of $25 to $30 million.\nTH’s Zacks Rank\nTarget Hospitality carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.\nRecent Consumer Discretionary Releases\nRoyal Caribbean Cruises Ltd. RCL posted impressive third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.In the quarter, the company exceeded its guidance, driven by stronger pricing on close-in demand, continued growth in onboard revenues and reduced costs due to timing factors. The company has raised its outlook for 2024 and reported elevated demand patterns heading into 2025.Mattel, Inc. MAT reported impressive third-quarter 2024 results, wherein the adjusted earnings and net sales topped the Zacks Consensus Estimate. The top line surpassed the consensus estimate after missing it for three consecutive quarters. On a year-over-year basis, net sales declined while adjusted earnings grew.The company’s quarterly results benefited from its Optimizing for Profitable Growth program along with the focus on its multi-year strategy to expand its IP-driven toy business and entertainment offering. Although the top line was adversely impacted by reduced sales from both the reportable segments, the bottom line showed resilience through operational efficiencies.Hilton Worldwide Holdings Inc. HLT reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the metrics increased on a year-over-year basis.The company's performance was backed by notable improvements in RevPAR, attributed to higher occupancy rates and average daily rates. Furthermore, in the quarter, Hilton opened 531 new hotels. It achieved net room growth of 33,600. As of Sept. 30, 2024, Hilton's development pipeline comprised nearly 3,525 hotels, with almost 492,400 rooms across 120 countries and territories, including 28 countries and regions with no running hotels. For 2024, the company expects net unit growth in the range of 7-7.5%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report\nMattel, Inc. (MAT) : Free Stock Analysis Report\nHilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report\nTarget Hospitality Corp. (TH) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483183458"}