Target Hospitality Shares Climb as Company Raises Full-Year Revenue Guidance

Dow Jones

May 11

By Christopher Kuo

Target Hospitality shares climbed after the company raised its full-year outlook for revenue and said it has a new multi-year contract that will generate more than $750 million in revenue.

Shares of the rental and hospitality services company rose 13% to $17.39. The stock reached a three-year high of $17.74 Monday.

The company on Monday increased its full-year outlook for 2026. It now expects revenue between $370 million and $380 million, up from previous guidance of $360 million to $370 million. Analysts expect $365.6 million.

The company on Monday also said it was awarded a 48-month contract in May to provide workforce accommodations and hospitality solutions for more than 3,000 people supporting artificial intelligence infrastructure development.

The company posted a first-quarter loss of $12.9 million, or 13 cents a share, compared with a loss of $6.5 million, or seven cents a share, a year earlier.

Revenue rose to $72.8 million from $69.9 million a year earlier. Analysts polled by FactSet expected revenue of $73.2 million.

Write to Christopher Kuo at chris.kuo@wsj.com

(END) Dow Jones Newswires

May 11, 2026 11:00 ET (15:00 GMT)

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