secwatch.observer — SEC 8-K summary
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Issuer:     Target Hospitality Corp. (TH)
CIK:        0001712189
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001558370-23-008647
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1712189/000155837023008647/0001558370-23-008647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1712189/000155837023008647/th-20230509x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-008647

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