Target Hospitality (TH) said Monday it received US government notification that it plans to discontinue the current Pecos Children's Center services agreement with the company's nonprofit partner, effective immediately.
Target said it offered facility and hospitality services to its partner under a lease and services agreement, adding that the partner has provided notice of its intention to terminate the contract.
The company said it is withdrawing the preliminary 2025 financial guidance it previously issued.
Target Hospitality's stock fell 43% in recent Monday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.