{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-008647","form_type":"8-K","ticker":"TH","cik":"0001712189","company_name":"Target Hospitality Corp.","filed_at":"2023-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.172042+00:00","generated_at":"2026-06-15T09:30:03.305010+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Target Hospitality Q1 revenue up 84% to $147.8M; net income $43.8M vs $0.5M YoY","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-008647","json":"https://secwatch.observer/filing/0001558370-23-008647.json","markdown":"https://secwatch.observer/filing/0001558370-23-008647.md","text":"https://secwatch.observer/filing/0001558370-23-008647.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1712189/000155837023008647/0001558370-23-008647-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1712189/000155837023008647/th-20230509x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T09:30:03.305010+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a2e89912daf33e3c9f55e3ea7e287a09f60a3437","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1712189/000155837023008647/0001558370-23-008647-index.htm","confidence":0.99,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended March 31, 2023"},{"label":"Revenue","value":"$147.8 million"},{"label":"Net income","value":"$43.8 million"},{"label":"EPS","value":"$0.44 and $0.38, respectively"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}