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.

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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.

Target Hospitality Corp (TH) reports robust Q3 earnings and eyes growth opportunities in Government and HFS segments

Target Hospitality Corp (TH) delivered strong Q3 2024 results, maintaining a solid financial position and focusing on growth opportunities in key segments. The company is actively managing its liabilities and returning value to shareholders through stock repurchases.

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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 mean of analysts' price targets for Target Hospitality (TH) points to a 27.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Predict a 27.63% Upside in Target Hospitality (TH): Here's What You Should Know

THE WOODLANDS, Texas , Sept. 29, 2023 /PRNewswire/ -- Arrow Bidco, LLC (the "Issuer"), a Delaware limited liability company and an indirect subsidiary of Target Hospitality Corp. ("Target Hospitality") (NASDAQ: TH), today announced that it has commenced (i) an offer to exchange (the "Exchange Offer") any and all of its outstanding 9.50% Senior Secured Notes due 2024 (the "Existing Notes") for cash and for the Issuer's new 10.75% Senior Secured Notes due 2025 (the "New Notes") and (ii) a solicitation of consents to certain proposed amendments to the indenture governing the Existing Notes (the "Consent Solicitation"), in each case, upon the terms and subject to the conditions described in the Confidential Offering Memorandum and Consent Solicitation Statement, dated September 29, 2023, (the "Offering Memorandum").

Arrow Bidco, LLC Announces Exchange Offer and Consent Solicitation in respect of its Senior Secured Notes

Target Hospitality is a modular housing community company serving the energy industry and US government, with a majority of revenue and profitability coming from government contracts. The company operates 27 communities with almost 17,000 available beds, providing modular housing and services to large energy companies in the Permian basin. The company is seeking a five-year contract for housing unaccompanied migrant children in Pecos, Texas, which could significantly impact the company's valuation.

Target Hospitality: Potential Short-Term Positive Catalysts

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Target Hospitality has seen strong revenue growth based on continued growth in demand for humanitarian housing solutions. The company has significantly reduced its total long-term debt load since last December. I take a bullish view on Target Hospitality.

Target Hospitality: Continued Revenue Growth And Long-Term Debt Reduction Encouraging

The headline numbers for Target Hospitality (TH) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Target Hospitality (TH) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Target Hospitality (TH) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.24 per share a year ago.

Target Hospitality (TH) Q2 Earnings and Revenues Top Estimates

THE WOODLANDS, Texas , Aug. 9, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically-integrated modular accommodations and value-added hospitality services, today reported results for the three months ended June 30, 2023. Financial and Operational Highlights Second quarter 2023 revenue increased 31% to $143.6 million compared to the same period in 2022 Net income of $46.5 million for the three months ended June 30, 2023, compared to $22.9 million for the same period in 2022 Basic and diluted income per share of $0.46 and $0.44, respectively, for the three months ended June 30, 2023 Record Adjusted EBITDA of $90.9 million for the second quarter 2023, an increase of 62% compared to the same period in 2022 Generated net cash provided by operating activities of over $379 million and Discretionary Cash Flow ("DCF")(1) of over $368 million for the twelve months ended June 30, 2023 Significant financial flexibility with approximately $195 million in total available liquidity and a net leverage ratio of 0.4x as of June 30, 2023 Acquired strategic humanitarian assets focused on increasing Target's portfolio capacity to meet the U.S. government's stated and urgent need for additional humanitarian housing solutions Notice issued from the U.S. government of their desire to increase influx care facility ("ICF") network capacity to approximately 10,000 ICF beds across multiple geographic locations Established strategic partnership with world-class government service provider to jointly pursue several new ICF community sites Submitted several bids, supporting approximately $1.0 billion of capital deployment in response to the government's solicitation for all-inclusive purpose-built ICF sites Strategically positioned to continue supporting the government's desired ICF network capacity through Target's established, and highly customized, Pecos Children's Center ("PCC") community in Pecos, Texas, jointly with Target's existing non-profit partner Executive Commentary "Our record setting second quarter results reflect the positive momentum we have sustained over the past year.

Target Hospitality Reports Record Setting Second Quarter 2023 Results and Expands Strategic Partnerships to Pursue Growing Humanitarian Demand

THE WOODLANDS, Texas , Aug. 2, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced that it will release its second quarter 2023 financial results before the market opens on Wednesday, August 9, 2023. The Company has also scheduled a conference call for Wednesday, August 9, 2023, at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results.

Target Hospitality Announces Second Quarter Earnings Release and Conference Call Schedule

THE WOODLANDS, Texas, June 20, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, advances its strategic diversification focus, with the appointment of Mr. Alejandro ("Alex") Hernandez to its board of directors, effective June 19, 2023.

Target Hospitality Announces Appointment of Alejandro Hernandez to Board of Directors

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Target Hospitality Corp. shows solid performance and a well-grounded financial positioning. The company's expansion and focus on the government and HFS-South segments, along with strategic pricing, contribute to its growth and resilience amidst market volatility. Market opportunities continue to outweigh market risks as recession fears ebb.

Target Hospitality: Hitting The Center Of Success

THE WOODLANDS, Texas , June 2, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced that it will attend and present at the Stifel Cross Sector Insight Conference on Wednesday, June 7, 2023 and the Bank of America Securities Credit Conference on Thursday, June 8, 2023. Presentation Details Stifel Cross Sector Insight Conference Date: Wednesday, June 7, 2023 Time:  9:10 am Eastern Time (8:10 am Central Time) Bank of America Securities Credit Conference Date:    Thursday, June 8, 2023 Time:    10:20 am Eastern Time (9:20 am Central Time) The events will be broadcast live via webcast.

Target Hospitality Announces June 2023 Conference Attendance and Presentation Schedule

THE WOODLANDS, Texas , May 17, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, announced that on May 15, 2023, it executed the existing six-month contract extension option for the expanded humanitarian community previously announced on July 6, 2022 ("Expanded Humanitarian Community").     As the Company previously stated, on May 9, 2023, the six-month extension option will remain through the current contract term of November 15, 2023, with no change to contract structure or the existing economic terms.

Target Hospitality Announces Execution of Option Extension Creating Pathway for Long Term Humanitarian Community Contract

THE WOODLANDS, Texas , May 9, 2023 /PRNewswire/ --Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced that it will attend and present at the Oppenheimer 18th Annual Industrial Growth conference on Wednesday, May 10, 2023. Presentation Details Oppenheimer 18th Annual Industrial Growth Conference Date:    Wednesday, May 10, 2023 Time:    12:45 pm Eastern Time (11:45 am Central Time) The event will be broadcast live via webcast.

Target Hospitality to Participate in Oppenheimer Industrial Growth Virtual Conference

Target Hospitality Corp. (NASDAQ:TH ) Q1 2023 Earnings Conference Call May 9, 2023 9:00 AM ET Company Participants Mark Schuck – Senior Vice President-Investor Relations Brad Archer – President and Chief Executive Officer Eric T. Kalamaras – Executive Vice President and Chief Financial Officer Conference Call Participants Greg Gibas – Northland Securities Alec Scheibelhoffer – Stifel Operator Good morning, and welcome to the Target Hospitality First Quarter 2023 Earnings Conference Call.

Target Hospitality Corp. (TH) Q1 2023 Earnings Call Transcript

Target Hospitality (TH) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.01 per share a year ago.

Target Hospitality (TH) Beats Q1 Earnings and Revenue Estimates

THE WOODLANDS, Texas , May 9, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically-integrated modular accommodations and value-added hospitality services, today reported results for the three months ended March 31, 2023. Financial and Operational Highlights First quarter 2023 revenue increased 84% to $147.8 million compared to the same period in 2022 Net income of $43.8 million for the three months ended March 31, 2023, compared to $0.5 million for the same period in 2022 Basic and diluted income per share of $0.44 and $0.38, respectively, for the three months ended March 31, 2023 First quarter 2023 Adjusted EBITDA(1) increased 171% to $90.6 million compared to the same period in 2022 Generated net cash provided by operating activities of over $350 million and Discretionary Cash Flow ("DCF")(1) of over $339 million for the twelve months ended March 31, 2023 Achieved strategic objective with an 80% improvement in net leverage ratio from March 31, 2022, with a net leverage ratio of 0.5x as of March 31, 2023 Significant financial flexibility with over $167 million in total available liquidity Reduced annual interest expense by approximately $12 million, following the $125 million partial redemption of 9.50% Senior Secured Notes due 2024, accelerating value creation Continued achievement of significant milestones toward multi-year contract award related to the expanded humanitarian community previously announced on July 6, 2022, ("Expanded Humanitarian Community") Strong business momentum supporting a 15% increase in customer demand in Target's HFS – South segment from the first quarter of 2022 Maximizing network optimization with a 28% increase in total average utilized beds from March 31, 2022 Executing on strategic diversification with a 134% increase in Government segment revenue from the same period in 2022, with approximately 74% of first quarter 2023 revenue derived from committed revenue contracts backed by the U.S. government Materially enhanced financial position creates ideal flexibility to pursue diversifying growth strategy, seeking to allocate over $500 million of net growth capital through 2027 Executive Commentary "Over the past year we have exponentially grown the business, materially advanced our strategic diversification efforts and substantially enhanced our balance sheet.

Target Hospitality Reports Strong First Quarter 2023 Results with Sustained Business Momentum and Continued Achievement of Strategic Objectives

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) to Report Q1 Results: Wall Street Expects Earnings Growth

THE WOODLANDS, Texas , May 2, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced that it will release its first quarter 2023 financial results before the market opens on Tuesday, May 9, 2023. The Company has also scheduled a conference call for Tuesday, May 9, 2023, at 9:00 am Eastern Time (8:00 am Central Time) to discuss the results.

Target Hospitality Announces First Quarter Earnings Release and Conference Call Schedule

Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced it has acquired strategic assets focused on increasing portfolio capacity in support of the United States government's critical humanitarian aid mission.

Target Hospitality Announces Acquisition of Strategic Humanitarian Assets

THE WOODLANDS, Texas , April 10, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, announced that on April 6, 2023, S&P Global Ratings upgraded the Company's credit rating to B+ and its Senior Secured Notes due 2024 ("Senior Notes") rating to BB-, representing a one and two notch upgrade, respectively.

Target Hospitality Receives S&P Credit Upgrade to B+ Supported by Positive Outlook on Humanitarian Contract

THE WOODLANDS, Texas , March 29, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, today announced two strategic hires focused on accelerating Target's growth and diversification strategy. Judson Greif and Hope Hunter, two distinguished government affairs professionals with extensive experience in Washington, D.C.

Target Hospitality Advances Growth Strategy with Strategic Government Affairs Hires

Start Time: 09:00 January 1, 0000 9:38 AM ET Target Hospitality Corp. (NASDAQ:TH ) Q4 2022 Earnings Conference Call March 10, 2023, 09:00 AM ET Company Participants Brad Archer - President and CEO Eric Kalamaras - CFO Mark Schuck - SVP, IR and Financial Planning Conference Call Participants Scott Schneeberger - Oppenheimer Gregory Gibas - Northland Stephen Gengaro - Stifel Operator Good morning, and welcome to the Target Hospitality Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will be in listen-only mode.

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