2023-05-09 06:50:48 ET
- Target Hospitality press release ( NASDAQ: TH ): Q1 GAAP EPS of $0.38 misses by $0.01 .
- Revenue of $147.82M (+84.1% Y/Y) beats by $10.19M .
- Revenue for the three months ended March 31, 2023, was $147.8 million compared to $80.3 million for the same period in 2022, an 84% increase. The increase was driven by the Government segment and the Expanded Humanitarian Community.
- Average utilized beds increased to 14,490, with utilization of 93%, for the three months ended March 31, 2023. The increase in utilized beds was primarily driven by the Expanded Humanitarian Community and continued strong customer demand in the HFS – South segment.
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Target's preliminary 2023 outlook, excluding acquisitions of:
- Total minimum revenue of $525 million (excluding variable service revenue)
- Total maximum revenue of $710 million (including variable service revenue)
- Minimum Adjusted EBITDA (1) of $365 million
- Total capital spending between $20 and $30 million, excluding acquisitions
- Zero net debt by second half of 2023
For further details see:
Target Hospitality GAAP EPS of $0.38 misses by $0.01, revenue of $147.82M beats by $10.19M