What To Expect From Target Hospitality’s (TH) Q1 Earnings
Workforce housing company Target Hospitality (NASDAQ:TH) will be reporting earnings this Monday before market open. Here’s what investors should know.
Target Hospitality beat analysts’ revenue expectations last quarter, reporting revenues of $89.78 million, up 7.3% year on year. It was a strong quarter for the company, with full-year EBITDA guidance exceeding analysts’ expectations and full-year revenue guidance exceeding analysts’ expectations. It reported 8,466 utilized beds, down 28.9% year on year.
Is Target Hospitality a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Target Hospitality’s revenue to grow 4.7% year on year, a reversal from the 34.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Target Hospitality has a history of exceeding Wall Street’s expectations.
Looking at Target Hospitality’s peers in the consumer discretionary – travel and vacation providers segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Sabre delivered year-on-year revenue growth of 8.3%, beating analysts’ expectations by 4.4%, and Hilton Grand Vacations reported revenues up 11.9%, topping estimates by 2%. Sabre traded up 12.6% following the results while Hilton Grand Vacations was also up 5.9%.
Read our full analysis of Sabre’s results here and Hilton Grand Vacations’s results here.
There has been positive sentiment among investors in the consumer discretionary – travel and vacation providers segment, with share prices up 5% on average over the last month. Target Hospitality is up 8.2% during the same time and is heading into earnings with an average analyst price target of $16 (compared to the current share price of $15.65).
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