Financial Performance - Revenue for the year ended December 31, 2024, was $386.3 million, a decrease of 31.4% compared to $563.6 million in 2023[6] - Net income for the year ended December 31, 2024, was $71.4 million, down 58.8% from $173.7 million in 2023[7] - Adjusted EBITDA for the year ended December 31, 2024, was $196.7 million, a decline of 42.9% from $344.2 million in 2023[7] - For Q4 2024, revenue was $83.7 million, down 33.6% from $126.2 million in Q4 2023[9] - Q4 2024 net income was $12.5 million, a decrease of 66.9% compared to $37.8 million in Q4 2023[10] - Total revenue for Q4 2024 was $83.688 million, a decrease of 33.7% compared to $126.220 million in Q4 2023[48] - Services income decreased to $60.227 million in Q4 2024 from $84.730 million in Q4 2023, representing a decline of 29.0%[48] - Specialty rental income fell to $23.461 million in Q4 2024, down 43.5% from $41.490 million in Q4 2023[48] - Gross profit for Q4 2024 was $37.031 million, a decrease of 40.5% compared to $62.239 million in Q4 2023[48] - Target Hospitality's total operating income for the year ended December 31, 2024, was $108.781 million, down from $240.606 million in 2023, indicating a significant decline in profitability[48] - Gross profit for the year 2024 was $178,179 thousand, compared to $313,324 thousand in 2023, indicating a decrease of 43.1%[54] Liquidity and Capital Structure - The company achieved approximately $366 million of total available liquidity and a net leverage ratio of 0.0x as of December 31, 2024[6] - The company executed approximately $33.4 million of stock repurchases during the year ended December 31, 2024[6] - The company reported a loss on extinguishment of debt of $2.279 million for the year ended December 31, 2024[48] - Total liabilities decreased to $304,684 thousand in 2024 from $317,046 thousand in 2023, a reduction of approximately 3.9%[50] - Total stockholders' equity attributable to Target Hospitality increased to $421,081 thousand in 2024 from $377,307 thousand in 2023, an increase of 11.6%[50] Cash Flow and Assets - Cash and cash equivalents rose significantly to $190,668 thousand in 2024, up from $103,929 thousand in 2023, marking an increase of 83.3%[52] - The company reported a net cash provided by operating activities of $151,675 thousand for 2024, slightly down from $156,801 thousand in 2023[52] - Discretionary cash flows for 2024 were $130,928 thousand, down from $142,583 thousand in 2023, reflecting a decline of 8.2%[56] - The company purchased specialty rental assets totaling $29,557 thousand in 2024, a decrease from $60,808 thousand in 2023[52] Future Outlook - The revised 2025 outlook projects total revenue between $265 million and $285 million, with adjusted EBITDA between $47 million and $57 million[23] - Adjusted EBITDA outlook for 2024 is expected to be a minimum of $100 million, reflecting management's confidence in operational performance despite current challenges[37] Contracts and Agreements - Target announced a multi-year Workforce Hub Contract expected to generate approximately $140 million of revenue through 2027[6] - A 5-year $246 million Dilley Contract was awarded, effective March 5, 2025, supporting U.S. government initiatives[6] Shareholder Information - The weighted average number of shares outstanding for Q4 2024 was 99,189,824, compared to 101,660,601 in Q4 2023[48]

Core Insights - Target Hospitality reported a significant decline in financial performance for the year ended December 31, 2024, with revenue of $386.3 million, down from $563.6 million in 2023, and net income of $71.4 million compared to $173.7 million in the previous year [5][6][12] - The company emphasized its operational flexibility and strategic growth initiatives, which have been crucial in navigating various business cycles and customer demand changes [3][4] - Target Hospitality secured a multi-year Workforce Hub Contract expected to generate approximately $140 million in revenue through 2027, indicating a focus on diversifying its contract portfolio [12][18] Financial and Operational Highlights - Full-year revenue for 2024 was $386.3 million, a decrease of 31.4% from $563.6 million in 2023 [5] - Net income for 2024 was $71.4 million, down 58.8% from $173.7 million in 2023 [6] - Adjusted EBITDA for 2024 was $196.7 million, a decline of 42.9% from $344.2 million in 2023 [6] - Average utilized beds decreased to 13,362 in 2024 from 14,463 in 2023, with utilization rates dropping to 83% from 90% [5] Fourth Quarter Summary - Revenue for Q4 2024 was $83.7 million, down 33.6% from $126.2 million in Q4 2023 [8] - Net income for Q4 2024 was $12.5 million, a decrease of 66.9% from $37.8 million in Q4 2023 [9] - Adjusted EBITDA for Q4 2024 was $41.1 million, down 39.2% from $67.7 million in Q4 2023 [9] Capital Management - The company achieved approximately $366 million in total available liquidity and maintained a net leverage ratio of 0.0x with zero net debt as of December 31, 2024 [12][13] - Target Hospitality executed approximately $33.4 million in stock repurchases during 2024, representing about 33.4% of the total share repurchase authorization [15] - On March 25, 2025, the company redeemed all outstanding 10.75% Senior Secured Notes due 2025, which is expected to save approximately $19.5 million in annual interest expenses [14] Business Update and Outlook - The company is positioned for growth with strong underlying business fundamentals and an efficient operating structure [16] - The recently announced Dilley Contract, valued at $246 million over five years, highlights the importance of Target's strategically located assets in supporting U.S. government initiatives [19] - Target's revised outlook for 2025 reflects the impact of the PCC contract termination and the new Dilley Contract, indicating a focus on government end-market growth opportunities [21]

Core Viewpoint - Theratechnologies Inc. has received FDA approval for the new formulation of tesamorelin, named EGRIFTA WR™, which is set to replace the existing EGRIFTA SV formulation, offering improved convenience and patient experience [2][3][5]. Company Overview - Theratechnologies is a commercial-stage biopharmaceutical company focused on innovative therapies, with its stock listed on TSX and NASDAQ [10]. Product Details - EGRIFTA WR™ is the only FDA-approved medication for reducing excess abdominal fat in adults with HIV-related lipodystrophy [3]. - The new formulation requires less than half the administration volume compared to the previous EGRIFTA SV, which necessitated daily reconstitution [3]. - EGRIFTA WR™ is supplied in four single-patient-use vials, each containing 11.6 mg of tesamorelin, sufficient for seven doses, with a daily dose of 1.28 mg [4]. - The product can be stored at room temperature before and after reconstitution [4]. Clinical Significance - Central adiposity is a common complication for people with HIV, and the new formulation aims to address this issue effectively [5]. - The new formulation is expected to enhance patient compliance and experience in managing comorbidities associated with HIV [4][5]. Manufacturing and Patent Information - EGRIFTA WR™ will be manufactured at a new U.S.-based contract drug manufacturing organization (CDMO) [5]. - The formulation is patent protected in the U.S. until 2033 [5].

Core Insights - Ibalizumab shows long-term efficacy and safety in reducing HIV RNA to undetectable levels in heavily treatment-experienced patients with multidrug-resistant HIV [1][2][6] - The PROMISE-US study indicates that patients on ibalizumab-containing regimens achieve similar rates of undetectable viral loads compared to those on non-ibalizumab regimens, despite having more severe HIV disease at baseline [2][4] Study Details - The PROMISE-US study is a phase 4, multicenter, observational registry study designed to assess the efficacy and durability of ibalizumab in combination with other antiretroviral therapies [3][6] - The interim analysis included 112 participants, with 70 in the non-ibalizumab cohort and 42 in the ibalizumab cohort, showing baseline viremia rates of 39% and 57% respectively [4] Treatment Outcomes - Among participants with baseline viremia, 50% of those in the non-ibalizumab cohort and 47% in the ibalizumab cohort achieved undetectable viral loads after six months [5] - At 12 months, 53% of the non-ibalizumab cohort and 42% of the ibalizumab cohort had undetectable viral loads [5] Safety Profile - Ibalizumab was well-tolerated, with no infusion reactions reported and no treatment discontinuations due to adverse events in the ibalizumab cohort [5]

Core Viewpoint - Target Hospitality Corp. announced the redemption of all $181.4 million of its 10.75% senior secured notes due 2025, scheduled for March 25, 2025, at a redemption price of 101.000% of the principal amount plus accrued interest [1][2]. Company Overview - Target Hospitality is one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, offering a range of solutions including food service management, concierge, laundry, logistics, security, and recreational facilities services [5].

Company Overview - Target Hospitality (TH) is expected to report a year-over-year decline in earnings, with a projected EPS of $0.07, reflecting a decrease of 75.9% compared to the previous year [3] - Revenues are anticipated to be $80.1 million, down 36.5% from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 80.77% over the last 30 days, indicating a significant reassessment by analysts [4] - The Most Accurate Estimate for Target Hospitality is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -25%, suggesting a bearish outlook from analysts [10][11] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of an earnings beat or miss, with a strong predictor being a positive Earnings ESP combined with a favorable Zacks Rank [8][9] - Target Hospitality currently holds a Zacks Rank of 3 (Hold), making it challenging to predict an earnings beat [11] Historical Performance - In the last reported quarter, Target Hospitality exceeded the consensus EPS estimate of $0.12 by delivering earnings of $0.20, resulting in a surprise of +66.67% [12] - Over the past four quarters, the company has successfully beaten consensus EPS estimates on all occasions [13] Industry Comparison - Vail Resorts (MTN), a peer in the Zacks Leisure and Recreation Services industry, is expected to report an EPS of $6.29, reflecting a year-over-year increase of 9.2% [17] - Vail Resorts' revenues are projected to be $1.14 billion, up 5.6% from the previous year, with an Earnings ESP of 1.64% indicating a likelihood of beating the consensus EPS estimate [18]

Core Viewpoint - Target Hospitality (TH) has experienced significant selling pressure, resulting in a 41.5% decline in stock price over the past four weeks, but analysts anticipate better earnings than previously expected, indicating potential for recovery [1]. Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to identify oversold stocks, with a reading below 30 typically indicating oversold conditions [2]. - TH's current RSI reading is 21.07, suggesting that the heavy selling may be exhausting itself and a trend reversal could be imminent [5]. Group 2: Fundamental Indicators - There is a consensus among sell-side analysts that earnings estimates for TH have increased by 1.9% over the last 30 days, which often correlates with price appreciation [6]. - TH holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, further supporting the potential for a turnaround [7].

Core Insights - Theratechnologies Inc. reported strong financial results for Q4 and FY2024, with a notable increase in revenue and positive Adjusted EBITDA, indicating a solid performance and growth potential in its HIV portfolio and new product lines [3][6][30]. Financial Performance - Q4 2024 revenue reached $25 million, a 6.6% increase from Q4 2023, while annual revenue for FY2024 was $85.9 million, up 5.0% year-over-year [2][30]. - EGRIFTA SV net sales for Q4 2024 were $17.7 million, a 4.2% increase from the previous year, and full-year sales were $60.1 million, reflecting a 12% growth [2][31]. - Trogarzo net sales in Q4 2024 were $7.3 million, a 12.8% increase, but full-year sales decreased by 8.3% to $25.7 million due to competitive pressures [2][32][33]. - Adjusted EBITDA for Q4 2024 was $7.8 million, a 56% increase from Q4 2023, and for FY2024, it reached $20.2 million compared to a negative $2.9 million in FY2023 [3][42]. Operational Highlights - The company secured $75 million in new credit facilities, enhancing its financial flexibility and supporting its growth strategy [3][10]. - A temporary supply disruption for EGRIFTA SV was resolved, allowing the company to resume distribution and meet market demand [5][48]. - The FDA has set a PDUFA action date of March 25, 2025, for the updated F8 formulation of tesamorelin, which could replace the current formulation [9]. Strategic Developments - The company in-licensed two new investigational drugs, olezarsen and donidalorsen, to drive long-term growth in Canada [11][60]. - Theratechnologies is actively seeking a partner for its oncology program to advance its novel peptide drug conjugates [4][12]. Cost Management - R&D expenses for FY2024 decreased significantly to $17 million from $30.4 million in FY2023, primarily due to reduced spending on various programs [35]. - Selling expenses for FY2024 were $25.4 million, down from $26.8 million in FY2023, reflecting tighter expense control [38]. Financial Position - As of November 30, 2024, the company had cash and cash equivalents totaling $19.8 million, down from $40.4 million a year earlier, indicating a need for careful cash flow management [53]. - The company reported a net loss of $8.3 million for FY2024, an improvement from a loss of $24 million in FY2023 [44].

Core Viewpoint - The U.S. government intends to terminate the Pecos Children's Center services agreement with Target Hospitality's nonprofit partner, effective around February 21, 2025, impacting the company's operations and financial outlook [1][2][5]. Group 1: Contract Termination - The Pecos Children's Center services agreement (PCC Contract) provided facility and hospitality solutions for up to 6,000 individuals, and the nonprofit partner has notified Target of its intention to terminate this contract [2]. - The termination of the PCC Contract allows the company to retain ownership of its modular assets, which can still be utilized for other customer demands and growth opportunities [3]. Group 2: Growth Opportunities - Target Hospitality is actively re-marketing its modular assets and exploring a pipeline of growth opportunities, particularly in relation to U.S. government immigration policies [4]. - The company plans to provide operational and financial updates in light of the contract termination, indicating a shift in its financial outlook for 2025 [5]. Group 3: Company Overview - Target Hospitality is one of North America's largest providers of vertically integrated modular accommodations and hospitality services, offering a range of value-added solutions including food service management and logistics [6].

MONTREAL, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or the “Company”) (TSX: TH) (NASDAQ: THTX), a specialty biopharmaceutical company focused on the commercialization of innovative therapies that have the potential to redefine standards of care, today announced the Company will report financial results and provide a business update for its fourth quarter and full year fiscal 2024 ended November 30 on Wednesday, February 26, 2025, at 8:30 a.m. ET. The call will be hosted b ...