secwatch.observer — SEC 8-K summary
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Issuer:     Target Hospitality Corp. (TH)
CIK:        0001712189
Form:       8-K
Filed at:   2026-05-11T23:59:59+00:00
Accession:  0001104659-26-058236
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/0001104659-26-058236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1712189/000110465926058236/th-20260511x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-058236

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