---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-058236"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2026-05-11T23:59:59+00:00"
generated_at: "2026-05-14T18:46:38.015227+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Target Hospitality Q1 revenue up 4% but net loss widens to $13M; announces $750M AI infrastructure contract

## Summary
- Q1 revenue $72.8M (+4% YoY); net loss $13.0M (vs $6.5M); diluted EPS $(0.13); Adj EBITDA $9.9M (vs $21.6M).
- New 48-month AI Infrastructure Contract: expected >$750M revenue, ~3,370 beds; net capex $200-210M; completion mid-2027.
- Since Feb 2025, secured over $2.0B in multi-year contracts, ~$1.8B in Workforce Hospitality Solutions.
- FY2026 guidance raised: revenue $370-380M, Adj EBITDA $75-85M, capex $460-480M; exiting 2027 annualized revenue >$680M.
- Available liquidity $150M, net leverage 0.6x; Q1 capex $45.5M for WHS growth; average utilized beds 9,468 (54% utilization).

## SEC filing metadata
- accession: 0001104659-26-058236
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2026-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/0001104659-26-058236-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/th-20260511x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-058236
- JSON: https://secwatch.observer/filing/0001104659-26-058236.json
- Plain text: https://secwatch.observer/filing/0001104659-26-058236.txt

## Source-grounded claims
- claim_id: dc93bdc35560a4a568611407a4e3a8debf624db9
  claim: Target Hospitality Corp. reported for the three months ended March 31, 2026 results: net income Net loss was ($13.0) million.
  evidence_excerpt: today reported results for the three months ended March 31, 2026. ​ Financial Highlights for the quarter ended March 31, 2026 ​ ● Revenue of $72.8 million. ● Net loss of ($13.0) million. ● Basic and diluted loss per share of $0.13 . ● Adjusted EBITDA (1) of $9.9 million. ● Net Cash Provided by Operating Activities of $7.0 million and Discretionary Cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/0001104659-26-058236-index.htm
- claim_id: dc93bdc35560a4a568611407a4e3a8debf624db9
  claim: Target Hospitality Corp. reported for the three months ended March 31, 2026 results: net income Net loss was ($13.0) million.
  evidence_excerpt: Net loss was ($13.0) million for the three months ended March 31, 2026, compared to ($6.5) million for the same period in 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/0001104659-26-058236-index.htm

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