{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-24-015144","form_type":"8-K","ticker":"TH","cik":"0001712189","company_name":"Target Hospitality Corp.","filed_at":"2024-11-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:09.331380+00:00","generated_at":"2026-05-30T02:02:41.222742+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Target Hospitality Q3 revenue falls 35% to $95.2M; adjusted EBITDA down 48%","bullets":["Net income of $20.1M ($0.20 diluted EPS) vs $45.6M ($0.43) YoY; adjusted EBITDA $49.7M vs $95.0M.","Utilization dropped to 81% from 89%; average utilized beds 13,138 vs 14,508, driven by PCC amortization end and STFRC contract termination.","Cash position $178M; total liquidity ~$353M; net leverage 0.0x; zero net debt target reaffirmed for year-end 2024.","Year-to-date through Nov 8, repurchased 3.8M shares for $33.2M under $100M buyback program.","2024 outlook reaffirmed: revenue $375-385M, adjusted EBITDA $184-190M, capex $25-30M."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-24-015144","json":"https://secwatch.observer/filing/0001558370-24-015144.json","markdown":"https://secwatch.observer/filing/0001558370-24-015144.md","text":"https://secwatch.observer/filing/0001558370-24-015144.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1712189/000155837024015144/0001558370-24-015144-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1712189/000155837024015144/th-20241112x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-30T02:02:41.222742+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}