secwatch.observer — SEC 8-K summary
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Issuer:     Target Hospitality Corp. (TH)
CIK:        0001712189
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001558370-24-011198
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Target Hospitality Q2 net income $18.4M, revenue $100.7M, down YoY; reiterates 2024 outlook
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- Revenue $100.7M, down 30% YoY from $143.6M; net income $18.4M ($0.18 EPS) vs $46.5M ($0.46).
- Adjusted EBITDA $52.2M, down 43% from $90.9M; utilization 89% vs 91% in prior year quarter.
- Cash and equivalents $154M; total liquidity ~$329M; net leverage 0.1x; no borrowings on $175M credit facility.
- Company reiterates FY 2024 outlook: revenue $375-385M, adjusted EBITDA $184-190M, zero net debt by year end.
- Special committee continues review of TDR Capital proposal at $10.80/share; no decision reached; STFRC contract termination effective Aug 9.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1712189/000155837024011198/0001558370-24-011198-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1712189/000155837024011198/th-20240807x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011198

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