Highest-materiality recent filing
Target Hospitality Q2 revenue +39% to $85.5M, raises FY26 outlook
Revenue $85.5M, up 39% YoY; net loss $9.0M ($0.09 loss/share) vs $14.9M loss prior year.
Target Hospitality closes new $660M ABL facility, replacing $175M prior credit line
New $660M asset-based revolving credit facility matures July 2031, nearly quadrupling prior $175M capacity.
Selling stockholders (entities controlled by TDR Capital LLP) to sell 7M shares at $17.00; gross proceeds ~$119M.
Q1 revenue $72.8M (+4% YoY); net loss $13.0M (vs $6.5M); diluted EPS $(0.13); Adj EBITDA $9.9M (vs $21.6M).
Target Hospitality Q1 2026 preliminary rev $70.5-72.5M; Adj EBITDA $8-9M vs $21.6M YoY
Q1 2026 estimated revenue $70.5M-$72.5M (Q1 2025: $69.9M); net loss $14.1M-$14.7M vs $6.5M loss.
Target Hospitality wins $550M+ data center hub contract with top-5 hyperscaler; raises 2026 outlook
Multi-year agreement with top-five hyperscaler for a data center campus in North Texas; over $550M committed minimum revenue through Q1 2031.
Revenue $320.6M; net loss $37.1M ($0.37 loss per share); Adjusted EBITDA $53.2M.
Target Hospitality grants 875K PSUs to three execs; TSR/EBITDA-based vesting
PSU grants: Troy Schrenk (400K), Brendan Dowhaniuk (300K), Heidi Lewis (175K) under 2019 Incentive Plan.
Target Hospitality Q3 net loss $0.8M; rev $99.4M; Adjusted EBITDA $21.5M vs $49.7M
Revenue $99.4M (up 4% YoY) includes $11.8M PCC contract close-out payment; utilization fell to 49% from 81%.
Target Hospitality Q2 net loss $14.9M, revenue down 39% YoY; raises 2025 guidance
Revenue $61.6M, down from $100.7M YoY; net loss $14.9M vs net income $18.4M YoY.
Shareholders approve 5M share increase, elect directors, ratify auditor at Target annual meeting
All six director nominees elected with >96% votes; say-on-pay passed 98.58%.
Target Hospitality Q1 net loss $6.5M, revenue $69.9M, reiterates FY2025 guidance
Revenue $69.9M vs $106.7M prior year; net loss $6.5M vs net income $20.4M; EPS loss $0.07.
Target Hospitality 2024: Revenue $386M, net income $71.4M, zero net debt, two large contract wins
Revenue $386.3M, net income $71.4M, diluted EPS $0.70 for FY2024.
Target Hospitality Corp. redeems all $181.4M of 10.75% senior secured notes due 2025
Redeemed all $181.4M in 10.75% Senior Secured Notes due 2025 at 101% of par plus accrued interest.
Target Hospitality signs 5-year, $246M+ contract with CoreCivic to reactivate Dilley Facility
Five-year lease and services agreement with CoreCivic, expected revenue over $246M through March 2030.
Target Hospitality extends ABL springing maturity to Mar 31; awards CEO 2M PSUs
Fourth and Fifth Amendments to ABL credit agreement pushed springing maturity date from March 15 to March 31, 2025 if 2025 Senior Secured Notes remain outstanding.
Target Hospitality loses Pecos Children's Center contract; withdraws 2025 outlook
Received notice U.S. government intends to terminate PCC services agreement with NP Partner effective Feb 21, 2025.
Multi-year construction and services agreement with Lithium Americas to support Thacker Pass lithium project.
Target Hospitality extends Pecos Children's Center contract, reaffirms 2024 outlook
PCC contract extended for fifth consecutive year, effective Nov 16, 2024; capacity up to 6,000 individuals.
Target Hospitality Q3 revenue falls 35% to $95.2M; adjusted EBITDA down 48%
Net income of $20.1M ($0.20 diluted EPS) vs $45.6M ($0.43) YoY; adjusted EBITDA $49.7M vs $95.0M.
Target Hospitality Q2 net income $18.4M, revenue $100.7M, down YoY; reiterates 2024 outlook
Revenue $100.7M, down 30% YoY from $143.6M; net income $18.4M ($0.18 EPS) vs $46.5M ($0.46).
U.S. government terminated South Texas Family Residential Center contract, effective Aug 9, 2024; contract contributed ~$55.9M revenue in 2023.
U.S. government intends to terminate South Texas Family Residential Center services agreement with Target's migrant programming partner in 60 days.
Revenue $106.7M, down 27.8% YoY; net income $20.4M ($0.20/share) vs $43.8M ($0.38).
Target Hospitality receives unsolicited buyout offer of $10.80 per share from TDR Capital affiliate
Arrow Holdings, TDR Capital affiliate, offers $10.80 per share for all outstanding shares not owned by TDR or its funds.
Revenue $563.6M in FY2023, up 12% from prior year; Adjusted EBITDA $344.2M, up 30%.
CFO departs; Vlacich promoted to CFO, Schrenk to Senior EVP; reaffirms outlook
CFO Eric T. Kalamaras departs effective Jan 22, 2024; departure is mutual, not due to any disagreement with company or auditors.
Target Hospitality announces $3.3B potential contract at Pecos; issues lower 2024 guidance
New PCC contract provides ~$178M minimum annual lease revenue; total potential $1.7B through 2028, plus up to $3.3B including occupancy-based revenue.
On May 5, 2026, the Board of Directors (the “ Board ”) of Target Hospitality Corp. (the “ Company ”) appointed Paul Hohnsbeen, age 70, to serve as a member of the Board, effective immediately
the Board promoted Jason Vlacich, the Chief Accounting Officer of the Company, to the role of Chief Financial Officer and Chief Accounting Officer, effective as of January 23, 2024.
the Board promoted Troy Schrenk, Chief Commercial Officer of the Company, to the role of Senior Executive Vice President Operations and Chief Commercial Officer, effective as of January 23, 2024.
appointed John C. Dorman, age 73, to serve as a member of the Board, effective immediately until his current term expires
Joy Berry notified the Company of her decision to resign as a director from the Board, effective February 16, 2024
on January 22, 2024, the Company and Eric T. Kalamaras, the former Chief Financial Officer of the Company, agreed that Mr. Kalamaras’s employment would cease effective as of January 22, 2024.
mutually agreed that Mr. Kalamaras would depart effective as of January 22, 2024
promoted Jason Vlacich, the Chief Accounting Officer of the Company, to the role of Chief Financial Officer and Chief Accounting Officer, effective as of January 23, 2024
promoted Troy Schrenk, Chief Commercial Officer of the Company, to the role of Senior Executive Vice President Operations and Chief Commercial Officer, effective as of the Effective Date
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.
On November 9, 2023, Jeff Sagansky notified Target Hospitality Corp. (the “ Company ”) of his decision to resign as a director from the Board of Directors of the Company (the “ Board ”), effective November 9, 2023, for personal reasons.
On June 14, 2023, Barbara J. Faulkenberry notified the Company of her decision to resign as a director from the Board, effective June 19, 2023.
Max materiality 0.90 · Median 0.62 · Most common event other_material