TH - Why Target Hospitality Shares Are Higher Today | Benzinga
Target Hospitality Corp (NASDAQ:TH) shares are trading higher after the company reported better-than-expected fourth-quarter FY23 results and issued FY24 revenue guidance above estimates.
Sales declined to $126.220 million from $152.438 million a year ago, beating the consensus of $118.0 million.
The revenue decline was due to lower non-cash, nonrecurring, infrastructure enhancement revenue associated with its’ PCC community, which was fully amortized as of November 2023.
Average utilized beds fell to 13,981 (from 14,207), with ...