secwatch.observer — SEC 8-K summary
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Issuer:     Target Hospitality Corp. (TH)
CIK:        0001712189
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001104659-25-107342
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Target Hospitality Q3 net loss $0.8M; rev $99.4M; Adjusted EBITDA $21.5M vs $49.7M
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- Revenue $99.4M (up 4% YoY) includes $11.8M PCC contract close-out payment; utilization fell to 49% from 81%.
- Net loss $0.8M vs net income $20.1M; diluted EPS ($0.01) vs $0.20; lower EBITDA due to construction costs and PCC termination.
- Full-year 2025 outlook reaffirmed: revenue $310-$320M, Adjusted EBITDA $50-$60M.
- Year-to-date new multi-year contracts >$455M: $246M Dilley, $166M Workforce Hub (+19%), $43M Data Center Community.
- Launched Target Hyper/Scale brand for AI/data center end-market; liquidity ~$205M, zero net debt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1712189/000110465925107342/0001104659-25-107342-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1712189/000110465925107342/th-20251106x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-107342

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