{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-046031","form_type":"8-K","ticker":"TH","cik":"0001712189","company_name":"Target Hospitality Corp.","filed_at":"2026-04-21T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.791422+00:00","generated_at":"2026-05-15T05:07:52.873578+00:00","sec_items":["2.02"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Target Hospitality Q1 2026 preliminary rev $70.5-72.5M; Adj EBITDA $8-9M vs $21.6M YoY","bullets":["Q1 2026 estimated revenue $70.5M-$72.5M (Q1 2025: $69.9M); net loss $14.1M-$14.7M vs $6.5M loss.","Adjusted EBITDA estimated $8M-$9M, down 58-63% from $21.6M in Q1 2025, driven by pre-opening & disposal costs.","Certain stockholders filed preliminary prospectus for underwritten secondary offering of common stock.","EBITDA reconciliation shows depreciation of specialty rental assets $15.6M, transaction expenses $0.3M."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-046031","json":"https://secwatch.observer/filing/0001104659-26-046031.json","markdown":"https://secwatch.observer/filing/0001104659-26-046031.md","text":"https://secwatch.observer/filing/0001104659-26-046031.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1712189/000110465926046031/0001104659-26-046031-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1712189/000110465926046031/tm269315d2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T05:07:52.873578+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0115d0da1a74d3ecee33a0c337cf2a35c7fc52fd","claim":"Target Hospitality Corp. reported the three-month period ended March 31, 2026 results: revenue $ 70,500 $ 72,500, net income $ (14,693 ) $ (14,093 ).","evidence_excerpt":"The following tables provide detail on the Company’s preliminary unaudited estimated financial results as of and for the three-month period ended March 31, 2026 and actual unaudited financial results for the three-month period ended March 31, 2025, and reconcile EBITDA and Adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure. For the period ended March 31, 2026 March 31, 2025 ($ in thousands) (unaudited) Estimated Actual Low High Total revenue $ 70,500 $ 72,500 $ 69,897 Net loss $ (14,693 ) $ (14,093 ) $ (6,459 )","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1712189/000110465926046031/0001104659-26-046031-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three-month period ended March 31, 2026"},{"label":"Revenue","value":"$ 70,500 $ 72,500"},{"label":"Net income","value":"$ (14,693 ) $ (14,093 )"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}