---
schema_version: "secwatch.filing_event.v1"
accession: "0001712189-23-000088"
form_type: "8-K"
ticker: "TH"
cik: "0001712189"
company_name: "Target Hospitality Corp."
filed_at: "2023-12-13T23:59:59+00:00"
generated_at: "2026-06-07T13:32:58.553770+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Target Hospitality announces $3.3B potential contract at Pecos; issues lower 2024 guidance

## Summary
- New PCC contract provides ~$178M minimum annual lease revenue; total potential $1.7B through 2028, plus up to $3.3B including occupancy-based revenue.
- 2023 outlook: revenue $550-560M, adjusted EBITDA $330-340M; approaching zero net debt by year end.
- Preliminary 2024 outlook: revenue $410-425M, adjusted EBITDA $195-210M, down significantly from 2023.
- EVP Operations J. Travis Kelley resigned effective Dec 11 for personal reasons, no disagreement.
- Non-cash infrastructure revenue amortization of ~$117M in 2023 will not recur under new contract.

## SEC filing metadata
- accession: 0001712189-23-000088
- form_type: 8-K
- ticker: TH
- cik: 0001712189
- company_name: Target Hospitality Corp.
- filed_at: 2023-12-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712189/000171218923000088/0001712189-23-000088-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712189/000171218923000088/th8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001712189-23-000088
- JSON: https://secwatch.observer/filing/0001712189-23-000088.json
- Plain text: https://secwatch.observer/filing/0001712189-23-000088.txt

## Key facts
- Executive change
  J. Travis Kelley resigned as Executive Vice President, Operations at Target Hospitality Corp..
  - Action: resigned
  - Role: Executive Vice President, Operations
  source text: On December 11, 2023, J. Travis Kelley, Executive Vice President, Operations of Target Hospitality Corp. (the “ Company ”), submitted his resignation from his position with the Company for personal reasons effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712189/000171218923000088/0001712189-23-000088-index.htm

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