Target Hospitality Expects FY23 Revenue Of $550M-$580M Vs. Consensus Of $560.47M; Adjusted EBITDA Of $346M-$365M
Portfolio Pulse from Benzinga Newsdesk
Target Hospitality has provided its 2023 outlook, expecting total revenue between $550M and $580M, adjusted EBITDA between $346M and $365M, and total capital spending between $25M and $35M. The company also aims to achieve zero net debt by the end of 2023. The outlook includes non-cash infrastructure revenue amortization of approximately $117M.
August 09, 2023 | 10:55 am
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Target Hospitality expects FY23 revenue of $550M-$580M, adjusted EBITDA of $346M-$365M, and aims for zero net debt by end of 2023.
The company's positive outlook for FY23, including expected revenue and EBITDA within consensus estimates and a goal of zero net debt, is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100