---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-007963"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2025-05-19T23:59:59+00:00"
generated_at: "2026-05-21T01:50:21.628490+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Target Hospitality Q1 net loss $6.5M, revenue $69.9M, reiterates FY2025 guidance

## Summary
- Revenue $69.9M vs $106.7M prior year; net loss $6.5M vs net income $20.4M; EPS loss $0.07.
- Adjusted EBITDA $21.6M vs $53.7M; decline driven by gov't segment contract terminations.
- Redeemed all $181.4M 10.75% Senior Notes due 2025 on March 25, expects annual interest savings ~$19.5M.
- Announced 5-year $246M Dilley Contract and multi-year $140M Workforce Hub Contract.
- Reiterated FY2025 outlook: revenue $265-285M, adjusted EBITDA $47-57M; net leverage 0.1x, liquidity $169M.

## SEC filing metadata
- accession: 0001558370-25-007963
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2025-05-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712189/000155837025007963/0001558370-25-007963-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000155837025007963/th-20250519x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-007963
- JSON: https://secwatch.observer/filing/0001558370-25-007963.json
- Plain text: https://secwatch.observer/filing/0001558370-25-007963.txt

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