Target Hospitality Corp

Target Hospitality Corp. engages in the provision of rental accommodations with premium catering and value-added hospitality services. It operates through the following business segments: Hospitality & Facilities Services - South, Hospitality & Facilities Services – Midwest, and Government. The Hospitality & Facilities Services - South segment operates facilities in the Permian Basin region and communities in Texas and New Mexico. The Hospitality & Facilities Services - Midwest segment reflects the facilities and operations in North Dakota. The Government segment includes facilities and operations to customers located primarily in Texas. The company was founded by Brian Scott Lash in 1978 and is headquartered in The Woodlands, TX.

Earnings data Q4 2020

Earnings data Q1 2021

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Earnings data Q4 2022

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Target Hospitality Corp (TH) reports record 2022 results and outlines growth plans amidst inflation concerns

Target Hospitality Corp (TH) delivered strong financial performance in Q4 2022, driven by revenue growth and operational efficiency.
While facing challenges such as rising inflation and cost management, the company is well-positioned to capitalize on growth opportunities.
With a focus on expansion into new markets and strategic investments, Target Hospitality Corp (TH) aims to sustain its growth trajectory.
The company's robust liquidity position and revenue outlook for 2023 signal a positive outlook for future performance.

Target Hospitality Corp reports strong Q1 performance and eyes government growth

Target Hospitality Corp (TH) delivered a robust performance in Q1 2023, driven by strong government contracts and financial stability.
The company's focus on high-return opportunities and strategic investments bodes well for future growth and operational resilience.
While facing challenges such as operational uncertainties and capital management, TH remains poised to capitalize on growth opportunities in the market.

Target Hospitality Corp reports record Q2 results and eyes government expansion

Target Hospitality Corp's Q2 2023 performance reflects robust revenue growth and strong financial metrics, driven by government contracts and customer demand.
While the company faces challenges in managing liabilities and moderating CapEx, strategic partnerships and growth initiatives present promising opportunities for expansion.
With a focus on strengthening financial position and pursuing growth in government services, Target Hospitality Corp aims for continued success and strategic expansion.

Target Hospitality Corp excels in Q3 driven by government contracts

Target Hospitality's Q3 performance was marked by strong revenue, solid cash position, and a positive outlook for 2023. The company's emphasis on government contracts and premium services has been key to its success.

Target Hospitality Corp posts strong Q4 results, eyes growth in 2024

Target Hospitality Corp (TH) delivered robust Q4 2023 results, particularly in the Government segment. With a solid financial position and strategic initiatives in place, TH aims for continued growth in 2024. Analyst inquiries centered on key financial metrics and growth prospects.

Target Hospitality Corp (TH) reports robust Q1 earnings and eyes growth opportunities

Target Hospitality Corp (TH) delivered a strong Q1 performance, showcasing operational efficiencies and financial strength. Despite challenges in government gross margins and operational efficiency, the company remains focused on pursuing growth opportunities and diversifying revenue streams.

Target Hospitality Corp reports robust Q2 earnings and eyes growth opportunities

Target Hospitality Corp's Q2 2024 earnings call highlighted strong financial performance, operational efficiencies, and growth prospects. The company is well-positioned with a robust cash position and liquidity, while also exploring opportunities for expansion and service renewals.

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Target Hospitality Corp. engages in the provision of rental accommodation with catering and hospitality services. It operates through the following business segments: HFS South, Government, and All Other. The HFS South segment consists primarily of rental and vertically integrated hospitality services revenue from customers in the natural resources and development industry located primarily in Texas and New Mexico. The Government segment is involved in rental and vertically integrated hospitality services revenue from customers with Government contracts in Texas. The All Other segment focuses on rental and vertically integrated hospitality services revenue from customers primarily in the natural resources and development industry located outside of the HFS South segment. The company was founded by Brian Scott Lash in 1978 and is headquartered in The Woodlands, TX.

THE WOODLANDS, Texas, Nov. 12, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically-integrated modular accommodations and value-added hospitality services, today reported results for the three months ended September 30, 2021. Financial and Operational Highlights for the Third Quarter 2021 Revenue increased to $89.2 million for the three months ended September 30, 2021, an increase of 85% year-over-year Net income increased to $6.7 million for the three months ended September 30, 2021, an increase of $14.3 million year-over-year Basic and diluted earnings per share of $0.07 for the three months ended September 30, 2021 Adjusted EBITDA(1) of $37.5 million, up 121% year-over-year Strong cash generation with net cash provided by operating activities of $40.0 million and Discretionary Cash Flow ("DCF") (1) of $34.7 million for the three months ended September 30, 2021, representing 39% DCF yield(1) to revenue Improved net leverage ratio by 52% since the beginning of 2021, marking significant progress towards year-end 2021 target net leverage ratio of below 3.0 times Raised full year 2021 financial outlook by 7% for revenue and 9% for Adjusted EBITDA(1), representing a 25% and 42% increase, respectively, from full year 2020 Executing on premier customer diversification with approximately 52% of third quarter 2021 revenue related to committed revenue contracts backed by the United States Government Continued strengthening customer demand for Target's premier modular hospitality solutions, with third quarter utilization of 75% Approximately 73% of 2021 revenue under committed revenue contracts, with approximately 53% of anticipated 2021 revenue related to government services Meaningful financial flexibility with over $155 million in total available liquidity, with zero outstanding borrowings under the Company's $125 million credit facility Executive Commentary "Our impressive third quarter results demonstrate Target's commitment to executing on its strategic objectives.

Target Hospitality Delivers Exceptional Third Quarter 2021 Results Driven by Significant Cash Flows and Strengthening Customer Demand Led by Government Contracts

THE WOODLANDS, Texas, Nov. 2, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, today raised the range of its previously announced 2021 financial outlook seven percent due to continued increasing customer demand. Growth in customer activity and broadening of demand for Target's premium modular hospitality services has continued to strengthen throughout 2021.

Target Hospitality Raises 2021 Financial Outlook 7% on Strengthening Customer Demand

THE WOODLANDS, Texas, Oct. 18, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, today announced that it will release its third quarter 2021 financial results before the market opens on Friday, November 12, 2021. The Company has also scheduled a conference call for Friday, November 12, 2021, at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results.

Target Hospitality Announces Third Quarter 2021 Earnings Release and Conference Call Schedule

THE WOODLANDS, Texas, Sept. 30, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, today announced that it will present at Deutsche Bank's 29th Annual Leveraged Finance Conference on Tuesday, October 5, 2021, at 4:15 pm Eastern Time (3:15 pm Central Time).

Target Hospitality to Present at Deutsche Bank's 29th Annual Leveraged Finance Conference

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THE WOODLANDS, Texas, Sept. 20, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, continues its diversification focus into government services, with the appointment of Pamela Hughes Patenaude to its board of directors, effective September 20, 2021.

Target Hospitality Advances Government Services Diversification Focus with Strategic Board Appointment

Target Hospitality has seen a strong rebound in cash and revenues as a result of executing a new government services contract in March 2021. The stock could see a target price of above $6 if earnings growth rebounds strongly.

Target Hospitality: Encouraging Recovery, Potentially Strong Upside Ahead

Target Hospitality Corp. (TH) CEO Brad Archer on Q2 2021 Results - Earnings Call Transcript

Target Hospitality (TH) delivered earnings and revenue surprises of -200.00% and 4.10%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Target Hospitality (TH) Reports Q2 Loss, Tops Revenue Estimates

Shares of Target Hospitality (NASDAQ:TH) moved higher by 1.5% in pre-market trading after the company reported Q2 results. Quarterly Results Earnings per share were up 93.33% over the past year to ($0.01), which missed the estimate of $0.01.

Recap: Target Hospitality Q2 Earnings

THE WOODLANDS, Texas, Aug. 11, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically-integrated modular accommodations and value-added hospitality services, today reported results for the three months ended June 30, 2021. Financial and Operational Highlights for the Second Quarter 2021 Revenue of $75.0 million for the three months ended June 30, 2021, as compared to $53.6 million for the same period in 2020 Net loss of $0.9 million for the three months ended June 30, 2021, compared to a net loss of $13.7 million for second quarter 2020 Basic and diluted loss per share of $0.01 for the three months ended June 30, 2021 Adjusted EBITDA(1) of $31.9 million for the three months ended June 30, 2021, compared to $13.4 million for the same period in 2020 Executing on premier customer diversification with approximately 60% of second quarter 2021 revenue related to committed revenue contracts backed by the United States Government Strong cash generation with net cash provided by operating activities of $67.4 million and Discretionary Cash Flow ("DCF") (1) of $65.8 million for the three months ended June 30, 2021 Continued strengthening customer demand with second quarter utilization of 72%, representing the fourth consecutive increase in quarterly utilization Approximately 73% of 2021 revenue under committed revenue contracts, with approximately 54% of 2021 revenue related to government services As of August 11, 2021, zero outstanding borrowings under the Company's $125 million credit facility, representing a reduction of year-to-date 2021 outstanding borrowings of $70 million and more than $175 million of total available liquidity  Executive Commentary "Target's strong second quarter results are a direct reflection of the deliberate actions taken in 2020 to appropriately position the Company, amidst an uncertain operating environment, to take advantage of a more balanced market.

Target Hospitality Delivers Outstanding Second Quarter 2021 Results Driving Robust Cash Flows as Diversification Strategy Strengthens

Target Hospitality (NASDAQ:TH) releases its next round of earnings this Wednesday, August 11. Here is Benzinga's essential guide to Target Hospitality's Q2 earnings report.

Target Hospitality Earnings Preview

THE WOODLANDS, Texas, Aug. 5, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), North America's largest provider of vertically integrated modular accommodations and value-added hospitality services, continues its strategic focus into government services, with the appointment of Major General (Ret.) Barbara Faulkenberry to its board of directors, effective August 4, 2021.

Target Hospitality Announces Strategic Board Appointment Continuing its Government Service Focus

Target Hospitality (TH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Target Hospitality (TH) Reports Next Week: Wall Street Expects Earnings Growth

THE WOODLANDS, Texas, July 27, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest provider of vertically integrated modular accommodations and value-added hospitality services in the United States, today announced that it will release its second quarter 2021 financial results before the market opens on Wednesday, August 11, 2021. The Company has also scheduled a conference call for Wednesday, August 11, 2021, at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results.

Target Hospitality Announces Second Quarter 2021 Earnings Release and Conference Call Schedule

On Monday, May 24, Target Hospitality (NASDAQ:TH) will release its latest earnings report. Here is Benzinga's outlook for the company.

Earnings Preview: Target Hospitality

THE WOODLANDS, Texas, June 8, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today announced that it will present at the Bank of America Energy Credit Conference on Wednesday, June 9, 2021, at 3:00 pm Eastern Time (2:00 pm Central Time). The event will be broadcast live via webcast.

Target Hospitality to Present at the Bank of America Energy Credit Conference

Q1 earnings were a miss -- but Target's guidance is a hit with this analyst.

Why Target Hospitality Stock Just Jumped 16%

Target Hospitality Corp (TH) CEO Brad Archer on Q1 2021 Results - Earnings Call Transcript

Target Hospitality (TH) delivered earnings and revenue surprises of -55.56% and 11.14%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Target Hospitality (TH) Reports Q1 Loss, Tops Revenue Estimates

Shares of Target Hospitality (NASDAQ:TH) were unchanged after the company reported Q1 results. Quarterly Results Earnings per share fell 380.00% year over year to ($0.14), which missed the estimate of ($0.09).

Target Hospitality: Q1 Earnings Insights

THE WOODLANDS, Texas, May 24, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today reported results for the three months ended March 31, 2021. Financial and Operational Highlights for the First Quarter 2021 Revenue of $45.5 million for the three months ended March 31, 2021 as compared to $71.7 million for the same period in 2020 Net loss of $13.1 million for the three months ended March 31, 2021, compared to net income of $5.5 million for first quarter 2020 Basic and diluted loss per share of $0.14 for the three months ended March 31, 2021 Adjusted EBITDA(1) of $16.0 million for the three months ended March 31, 2021, compared to $32.4 million for the same period in 2020 Continued strengthening customer demand with sequential quarterly utilization increasing 800 basis points in the first quarter of 2021 Executed a $118 million minimum revenue contract that provides a suite of comprehensive service offerings assisting humanitarian aid efforts in support of the United States Government Approximately 72% of 2021 revenue under committed revenue contracts, with approximately 54% of 2021 revenue related to Government Services As of May 24, 2021, reduced year-to-date 2021 outstanding borrowings on the Company's ABL by $21 million Increasing midpoint of 2021 Adjusted EBITDA outlook range 11% to $97 - $107 million from $88 - $95 million Executive Commentary "Target's first quarter performance exemplifies the benefits of our strong operating position that allows us to serve our customers varying needs, while also expanding the end-markets we serve.

Target Hospitality Announces First Quarter 2021 Results and Raises Full Year 2021 Financial Outlook

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Analysts Estimate Target Hospitality (TH) to Report a Decline in Earnings: What to Look Out for

THE WOODLANDS, Texas, May 12, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today announced that it will release its first quarter 2021 financial results before the market opens on Monday, May 24, 2021. The Company has also scheduled a conference call for Monday, May 24, 2021 at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results.

Target Hospitality Announces First Quarter 2021 Earnings Release and Conference Call Schedule

THE WOODLANDS, Texas, May 6, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today announced that as a result of the SEC's staff's recent guidance change on April 12, 2021 for all Special Purpose Acquisition Companies ("SPACs") regarding the accounting and reporting for their warrants (the "SEC Guidance Change"), it will amend and restate its previously issued Annual Report on Form 10-K for the year ended December 31, 2020. The restatement pertains to the accounting treatment for private placement warrants (the "Private Warrants") that were outstanding at the time of the merger with Platinum Eagle Acquisition Corp. ("Platinum Eagle") on March 15, 2019 ("Business Combination").

Target Hospitality Announces Response to SEC Guidance Change Issued on April 12, 2021 Applicable to Warrants Issued by Special Purpose Acquisition Companies

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