Target Hospitality Cuts FY24 Total Revenue Outlook From $410M - $425M To $375M - $385M, Est $396.10M
Portfolio Pulse from Benzinga Newsdesk
Target Hospitality has revised its FY24 total revenue outlook downwards from $410M-$425M to $375M-$385M, below the estimated $396.10M. This revision follows the termination of the STFRC Contract and other factors.
June 27, 2024 | 10:58 am
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Target Hospitality has lowered its FY24 revenue outlook to $375M-$385M from $410M-$425M, which is below the estimated $396.10M. This adjustment is due to the termination of the STFRC Contract and other factors.
The downward revision of the revenue outlook is a significant negative indicator for Target Hospitality. The new guidance is below market expectations, which is likely to result in a negative short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100