---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-003382"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2023-03-10T23:59:59+00:00"
generated_at: "2026-06-18T05:36:40.861625+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-003382
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2023-03-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1712189/000155837023003382/0001558370-23-003382-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000155837023003382/th-20230310x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-003382
- JSON: https://secwatch.observer/filing/0001558370-23-003382.json
- Plain text: https://secwatch.observer/filing/0001558370-23-003382.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712189/000155837023003382/0001558370-23-003382-index.htm

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