09:55 AM EDT, 05/08/2024 (MT Newswires) -- Target Hospitality ( TH ) shares were up nearly 5% in recent Wednesday trading after the company reported forecast-beating Q1 financial results.

The rental and hospitality services company reported Q1 earnings of $0.20 per diluted share, down from $0.38 a year earlier. Three analysts polled by Capital IQ expected $0.15.

Revenue for the quarter ended March 31 was $106.7 million, compared with $147.8 million a year earlier. The analysts surveyed by Capital IQ expected $102 million.

The company said it continues to expect 2024 revenue of $410 million to $425 million. Three analysts polled by Capital IQ expect $413.4 million.

Price: 11.65, Change: +0.55, Percent Change: +4.95