---
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"
generated_at: "2026-05-15T05:07:52.873578+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Target Hospitality Q1 2026 preliminary rev $70.5-72.5M; Adj EBITDA $8-9M vs $21.6M YoY

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-046031
- JSON: https://secwatch.observer/filing/0001104659-26-046031.json
- Plain text: https://secwatch.observer/filing/0001104659-26-046031.txt

## Key facts
- Earnings Releases
  Target Hospitality Corp. reported the three-month period ended March 31, 2026 results: revenue $ 70,500 $ 72,500, net income $ (14,693 ) $ (14,093 ).
  - Period: the three-month period ended March 31, 2026
  - Revenue: $ 70,500 $ 72,500
  - Net income: $ (14,693 ) $ (14,093 )
  - Result: preliminary results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1712189/000110465926046031/0001104659-26-046031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.