Target Hospitality (NASDAQ:TH) shares gained more than 5% on Friday after the company reported its Q4 results, with EPS of $0.31 missing the Street estimate of $0.39. Revenue came in at $152.44 million, beating the Street estimate of $148.27 million, primarily driven by its announced extended/expanded West Texas government contract.
However, the biggest news from the company’s quarterly release was the announcement of an IDIQ contract posting on USASPENDING.gov associated with its non-profit partner on Target’s West Texas Government contract representing an anticipated five-year extension with an additional five-year option.
This development enhances the likelihood, timing, size, and duration of this eagerly-awaited contract extension as the USASPENDING.gov posting is a final step in the government’s contract award process.
Target Hospitality Shares Down 5 percent on Q4 EPS Miss, Revenues Beat Estimates