Target Hospitality Q2 revenue +39% to $85.5M, raises FY26 outlook

Target Hospitality Corp.

Revenue $85.5M, up 39% YoY; net loss $9.0M ($0.09 loss/share) vs $14.9M loss prior year.
Adjusted EBITDA $18.2M, up >5x from $3.5M; driven by Workforce Hospitality Solutions growth.
Raised FY2026 revenue guidance to $410-420M (up 11%) and adjusted EBITDA to $85-95M (up 13%).
Since Jan 2026 secured $1.4B in multi-year contract awards, >9,000 beds; new $660M ABL facility closed July 24.
Expects annualized revenue >$700M and adjusted EBITDA >$260M exiting 2027.

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