Target Hospitality Q1 revenue $106.7M, net income $20.4M; receives $10.80/share acquisition proposal from TDR

Target Hospitality Corp.

2024-Q1 EPS reported $0.20 revenue$106,672,000

Revenue $106.7M, down 27.8% YoY; net income $20.4M ($0.20/share) vs $43.8M ($0.38).
Adjusted EBITDA $53.7M vs $90.6M; declines due to non-recurring PCC infrastructure amortization fully amortized in Nov 2023.
Reiterated FY2024 outlook: revenue $410-425M, Adj. EBITDA $195-210M, capex $25-30M.
Received unsolicited $10.80/share acquisition proposal from Arrow (TDR Capital); special committee formed to evaluate.
Balance sheet: $124M cash, $299M liquidity, net leverage 0.2x; repurchased 2.3M shares for $21.2M in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Target Hospitality Corp. reported the three months ended March 31, 2024 results: revenue $106.7 million, net income $20.4 million, EPS $0.20. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $106.7 million
Net income: $20.4 million
EPS: $0.20
Guidance: reaffirmed
Result: reported results

Exact text from the filing

accommodations and value-added hospitality services, today reported results for the three months ended March 31, 2024. Financial and Operational Highlights ● Revenue of $106.7 million for the three months ended March 31, 2024. ● Net income of $20.4 million for the three months ended March 31, 2024. ● Basic and diluted income per share of $0.20 fo r the three

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Source: SEC EDGAR

accession 0001558370-24-007182

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