0805 ET - Target Hospitality says the US government is ending its services agreement with the company's nonprofit partner running the Pecos Children's Center, an emergency intake site for unaccompanied migrant children. The move comes amid rapid cuts and other changes under President Trump's second term. Target Hospitality provides rental accommodations with catering and hospitality services. The company says it's remarketing these assets for other opportunities potentially supporting the U.S. government's current immigration policies. Given termination of the PCC contract, Target Hospitality says it's withdrawing its previously issued preliminary 2025 financial outlook. Target Hospitality dives 43% to $5.31 premarket. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
February 24, 2025 08:05 ET (13:05 GMT)
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