Tag: Continued

Target Hospitality Provides Business Update Highlighting Continued Positive Trends and Corporate Strategy

Target Hospitality Corp. (“Target Hospitality”, “Target” or the “Company”) (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium catering and value-added hospitality services in the U.S., today is providing the following business updates as a result of continued positive trends in its core business.

“As the economic outlook became increasingly uncertain during the second quarter of this year, we took aggressive actions to appropriately position Target to navigate this unprecedented operating environment. We quickly aligned our business to match customer demand, while maintaining a heightened focus on preserving our financial strength. Our second quarter results reflected Target’s ability to execute in a challenging environment and continue to deliver strong financial results, while generating meaningful discretionary cash flow,” stated Brad Archer, President and Chief Executive Officer.

“We have continued to see positive trends in our operating metrics following our second quarter results, including occupancy and utilization. Target’s customer

Read More

COVID-19 Recession – Slow Continued Improvement: The iM-Weekly Unemployment Monitor: Update 9/17/2020

Today’s DOL Unemployment Insurance Weekly Claims shows an improvement in the insured employment situation.

The non-seasonal adjusted initial claims at 790,021 are down by 75,974 when compared to previous week, Also, the non-seasonal adjusted continuous insured unemployed at 12,321,395 have, for this week, decreased significantly by -1,034,052 over the last week’s reported figures.

However, the total persons claiming some form of UI benefit as of August 29 are reported by the DOL as 29,768,326, an increase of 98,456 from last week’s upward revised figure.

These figures signal a continued improvement to the return to work numbers which could indicate a slight easing of the COVID-19 recession (green line in below figure), however this is not yet reflected in a reduction of total number of persons receiving some form of benefit which include the self-employed (blue line).

The figure below shows that currently the lowest unemployment rate should be 18.5%. And,

Read More

Mastercard Sees Continued Improvement In August; RBC Says Buy

Mastercard (MA) has now updated its operating metrics through the week ending August 28, revealing continued modest improvements. Switched transactions increased +5% y/y vs. +3% y/y. That’s thanks to the relaxing of social distancing measures, partially offset by the expiration of US elevated unemployment benefits.

According to MA, most markets are in the Normalization phase domestically. This phase occurs when social distancing and mobility limitations are relaxed and spending begins to gradually recover, says Mastercard, with some sectors recovering faster than others.

“In particular, we are seeing continued improvement in travel and entertainment related categories such as lodging, restaurants, auto rental and gas” says the company, adding that its Switched Volume growth rates excluding travel and entertainment are now similar to pre-pandemic levels.

From a geographic perspective, the US was relatively stable with volume up +5% y/y in the last week of August vs. +5% in the last

Read More