Target Hospitality Q1 revenue up 84% to $147.8M; net income $43.8M vs $0.5M YoY

Target Hospitality Corp.

2023-Q1 EPS reported $0.38 revenue$147,819,000

Revenue $147.8M (+84% YoY); net income $43.8M vs $0.5M; diluted EPS $0.38.
Adjusted EBITDA $90.6M (+171% YoY); net cash from ops >$350M (TTM); DCF >$339M.
Net leverage ratio improved to 0.5x; $125M partial redemption of 9.50% notes reduces annual interest by ~$12M.
Government segment revenue +134% YoY; 74% of Q1 revenue from U.S. government-backed contracts; targeting $500M+ growth capital through 2027.
Total avg utilized beds +28% YoY; HFS-South customer demand +15% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Target Hospitality Corp. reported the three months ended March 31, 2023 results: revenue $147.8 million, net income $43.8 million, EPS $0.44 and $0.38, respectively.

Period: the three months ended March 31, 2023
Revenue: $147.8 million
Net income: $43.8 million
EPS: $0.44 and $0.38, respectively
Result: reported results

Exact text from the filing

First quarter 2023 revenue increased 84% to $147.8 million compared to the same period in 2022 ● Net income of $43.8 million for the three months ended March 31, 2023, compared to $0.5 million for the same period in 2022 ● Basic and diluted income per share of $0.44 and $0.38, respectively, for the three months ended March 31, 2023

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Source: SEC EDGAR

accession 0001558370-23-008647

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