Target Hospitality reports record FY2022 revenue of $502M, net income of $73.9M

Target Hospitality Corp.

Record revenue $502.0M, up 72% YoY; net income $73.9M vs net loss $4.6M in 2021.
Adjusted EBITDA $264.7M, up 122% YoY; net cash from ops $305.6M.
Total available liquidity >$307M, net leverage 0.6x as of Dec 31, 2022.
72% of 2022 revenue from committed US government contracts; 17% increase in utilized beds YoY.
Post-period: amended/ extended ABL facility; announced partial redemption of 9.5% Senior Secured Notes due 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Target Hospitality Corp. reported fourth quarter and year ended December 31, 2022 results: revenue Record revenue of $502.0 million, net income Net income of $73.9 million, EPS Basic and diluted income per share of $0.76 and $0.74, respectively.

Period: fourth quarter and year ended December 31, 2022
Revenue: Record revenue of $502.0 million
Net income: Net income of $73.9 million
EPS: Basic and diluted income per share of $0.76 and $0.74, respectively
Result: reported results

Exact text from the filing

value-added hospitality services, today reported results for the fourth quarter and year ended December 31, 2022. Financial and Operational Highlights ● Record revenue of $502.0 million for year ended December 31, 2022, an increase of 72% year-over-year ● Net income of $73.9 million for year ended December 31, 2022, compared to net loss of $4.6 million for the

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Source: SEC EDGAR

accession 0001558370-23-003382

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