---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-007182"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T11:42:21.405071+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-007182
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1712189/000155837024007182/0001558370-24-007182-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000155837024007182/th-20240508x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-007182
- JSON: https://secwatch.observer/filing/0001558370-24-007182.json
- Plain text: https://secwatch.observer/filing/0001558370-24-007182.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712189/000155837024007182/0001558370-24-007182-index.htm

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