UPDATE: Target Hospitality (TH) Reports Q1 EPS of $0.21; Revs Rise 112%

Target Hospitality (NASDAQ: TH) reported Q1 EPS of $0.21, versus ($0.16) reported last year. Revenue for the quarter came in at $82 million, versus $38.65 million reported last year.

Brad Archer, President and Chief Executive Officer of Target Hospitality, stated, “We delivered strong results in the first quarter driven by customer renewals, community expansions, operational enhancements, and benefits from our Signor integration. These results were in line with our expectations as we drove broad-based performance improvement across key metrics, including positive contributions from higher utilization and ADR. This was directly attributable to our durable customer contracts, which provide us with great visibility and underpin the stability and resiliency of our business. Furthermore, additional progress was made with the integration of full turnkey services at Signor communities as we realized the benefit of more favorable contract renewals and extensions.”

Mr. Archer continued, “We are pleased by the solid start to the year, in what is our seasonally smallest quarter, and look forward to delivering on our affirmed outlook for 2019. Demand in the Permian Basin remains robust and supports our identified project pipeline of new communities to add to what is already the largest network of workforce accommodations in the region. These community expansions along with revenue and cost savings synergies from the Signor integration combined with our solid track record of execution further strengthens our confidence in the growth trajectory of our business.”

For earnings history and earnings-related data on Blyth, Inc. (TH) click here.

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