Target Hospitality Cuts FY23 Revenue Guidance From $550M - $580M To $550M - $560M Vs. $561.7M Est.
Portfolio Pulse from Benzinga Newsdesk
Target Hospitality has revised its FY23 revenue guidance downwards from the previous range of $550M - $580M to a new range of $550M - $560M, which is below the estimated $561.7M.
December 13, 2023 | 11:55 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Target Hospitality has reduced its FY23 revenue outlook, now expecting to fall short of market expectations.
The reduction in revenue guidance by Target Hospitality is a negative signal to investors, indicating that the company may not perform as well as previously expected. This typically leads to a negative short-term impact on the stock price as market participants adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100