Target Hospitality Q2 net loss $14.9M, revenue down 39% YoY; raises 2025 guidance

Target Hospitality Corp.

2025-Q2 EPS reported -$0.22 revenue$131,503,000

Revenue $61.6M, down from $100.7M YoY; net loss $14.9M vs net income $18.4M YoY.
Adjusted EBITDA $3.5M vs $52.2M YoY; average utilized beds 7,482 (45% utilization) vs 14,370 (89%).
Full-year 2025 outlook raised: revenue $310-320M, Adjusted EBITDA $50-60M.
Secured $400M+ in new multi-year contracts including $246M Dilley Contract and $154M Workforce Hub.
Total available liquidity ~$170M, net leverage 0.1x.

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