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.
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