Earnings summaries and quarterly performance for Target Hospitality.
Executive leadership at Target Hospitality.
James B. Archer
Detailed
President and Chief Executive Officer
CEO
BD
Brendan Dowhaniuk
Detailed
Executive Vice President, Strategy & Corporate Development
HD
Heidi D. Lewis
Detailed
Executive Vice President, General Counsel and Secretary
JV
Jason Vlacich
Detailed
Chief Financial Officer & Chief Accounting Officer
TC
Troy C. Schrenk
Detailed
Senior Executive Vice President, Operations & Chief Commercial Officer
Board of directors at Target Hospitality.
Research analysts who have asked questions during Target Hospitality earnings calls.
Stephen Gengaro
Stifel Financial Corp.
3 questions for TH
Also covers: ACDC, AESI, AMRC +24 more
GG
Gregory Gibas
Northland Securities
2 questions for TH
Also covers: ACEL, AMRK, ASUR +7 more
Scott Schneeberger
Oppenheimer & Co. Inc.
2 questions for TH
Also covers: CSV, CTAS, CTOS +12 more
AJ
Alec John Scheibelhoffer
Stifel, Nicolaus & Company, Incorporated
1 question for TH
Also covers: ACDC, PFHC, SND
GG
Greg Gibas
Northland Securities, Inc.
1 question for TH
Also covers: ACEL, AIOT, AMRK +8 more
Recent press releases and 8-K filings for TH.
Target Hospitality Amends Executive Performance Stock Unit Agreements
TH
Executive Compensation
Takeover Bid
Management Change
- Target Hospitality Corp. (TH) amended its 2023 Executive Performance Stock Unit Agreements on January 25, 2026, reissuing the PSUs to certain employees, including named executive officers.
- The amendment was made to preserve the original pay-for-performance intent and maintain alignment with stockholder interests, taking into account disruption caused by an unsolicited take-private proposal in 2024.
- The performance period for the Total Shareholder Return (TSR) Metric has been extended from December 31, 2025, to December 31, 2026, with the vesting date for the TSR Based Award set for March 1, 2027.
- The Performance Units are tied to two independent criteria: a TSR Based Award measured against the Russell 2000 Index, and a Diversification EBITDA Based Award based on "Qualifying EBITDA".
Jan 27, 2026, 9:30 PM
Target Hospitality Corp. Details Financial Covenants and Corporate Action Limitations
TH
Debt Issuance
Dividends
Accounting Changes
- The document outlines specific limitations on Indebtedness, including a cap for self-insurance and Surety Bonds at the greater of $30,000,000 or 5.0% of Consolidated Total Assets, and for other general Indebtedness at the greater of $50,000,000 or 8.0% of Consolidated Total Assets.
- Investments in non-Loan Party Restricted Subsidiaries are limited to the greater of $60,000,000 or 9.0% of Consolidated Total Assets if the Payment Condition is not met, and aggregate Permitted Acquisitions not becoming Loan Parties or Collateral are capped at the greater of $50,000,000 or 8.0% of Consolidated Total Assets.
- The company has limitations on Dividends and Share Repurchases, allowing annual stock repurchases from officers/employees up to $10,000,000 (with a $20,000,000 annual carryover limit) and additional Dividends up to $30,000,000.
- The document specifies numerous items to be excluded from Consolidated Net Income when calculating Consolidated EBITDA, such as non-cash compensation charges, impairment charges, and purchase accounting adjustments.
Dec 29, 2025, 11:45 AM
Target Hospitality Secures Multi-Year Contract for Northern Nevada Power Community
TH
New Projects/Investments
Revenue Acceleration/Inflection
- Target Hospitality announced a multi-year lease and services agreement (Power Community Contract) to construct and provide comprehensive hospitality solutions for the expansion of power generation capacity in Northern Nevada, supporting mining and data center development.
- This contract is expected to generate approximately $35 million of revenue over its 25-month term, starting in June 2026.
- The project requires a minimal capital investment of approximately $8 to $10 million, leveraging existing regional capacity, with construction anticipated to be completed by June 2026.
- Including this award, Target Hospitality has announced over $530 million of multi-year contracts in 2025.
Dec 3, 2025, 11:45 AM
Target Hospitality Expands Data Center Community
TH
New Projects/Investments
Revenue Acceleration/Inflection
- Target Hospitality announced a 400-bed expansion to its data center community, increasing its capacity by 160% to support up to 650 individuals.
- The Expansion Contract is expected to provide approximately $40 million of committed minimum revenue over its initial two-year term through March 2028.
- This expansion increases the total contract value for the Expanded Data Center Community to approximately $83 million, representing an over 90% increase from the initial $43 million contract.
- Target will invest approximately $10 to $15 million in capital, with construction beginning in Q4 2025 and anticipated completion in Q1 2026.
Nov 17, 2025, 11:45 AM
Target Hospitality Reports Q3 2025 Results and Reaffirms 2025 Outlook
TH
Earnings
Guidance Update
New Projects/Investments
- Target Hospitality reported Q3 2025 total revenue of approximately $99 million and adjusted EBITDA of approximately $22 million.
- The company reaffirmed its 2025 outlook, projecting total revenue of $310-$320 million and adjusted EBITDA of $50-$60 million.
- Strategic growth initiatives resulted in over $455 million in new multi-year contract awards in 2025, with a focus on expanding into data center and AI infrastructure, and critical mineral development.
- The Gilley, Texas facility is now fully operational, expected to generate approximately $30 million in 2025 revenue, and the Workforce Hub contract value increased by 19% to approximately $166 million.
- Target Hospitality ended Q3 2025 with $30 million in cash and zero net debt, resulting in approximately $205 million in total available liquidity.
Nov 6, 2025, 2:00 PM
Target Hospitality Reports Third Quarter 2025 Results
TH
Earnings
New Projects/Investments
Guidance Update
- Target Hospitality reported revenue of $99.4 million, a net loss of ($0.8) million, and basic and diluted loss per share of $0.01 for the third quarter of 2025. Adjusted EBITDA for the quarter was $21.5 million.
- As of September 30, 2025, the company maintained approximately $205 million of total available liquidity and zero net debt.
- The company announced over $455 million in new multi-year contracts in 2025, including a $246 million contract for the Dilley facility which became fully operational in September 2025, and a $43 million agreement for the AI and data center market.
- Target Hospitality reiterated its full-year 2025 outlook, projecting total revenue between $310 million and $320 million and Adjusted EBITDA between $50 million and $60 million.
Nov 6, 2025, 11:53 AM
Target Hospitality Announces Third Quarter 2025 Results
TH
Earnings
New Projects/Investments
- Target Hospitality reported revenue of $99.4 million, a net loss of ($0.8) million, and $0.01 basic and diluted loss per share for the third quarter ended September 30, 2025, with Adjusted EBITDA of $21.5 million.
- The company announced over $455 million in new multi-year contracts in 2025, including a $246 million contract for reactivating South Texas assets and a $43 million agreement for the rapidly expanding AI and data center market.
- As of September 30, 2025, Target Hospitality maintained approximately $205 million in total available liquidity and reported zero net debt.
- While revenue increased to $99.4 million in Q3 2025 from $95.2 million in Q3 2024, net income and Adjusted EBITDA decreased, primarily due to higher operating expenses and the termination of the Pecos Children's Center Contract, which included an $11.8 million close-out payment in Q3 2025.
Nov 6, 2025, 11:45 AM
Target Hospitality Launches New Sub-Brand Target Hyper/Scale
TH
Product Launch
New Projects/Investments
- Target Hospitality (Nasdaq: TH) announced the launch of Target Hyper/Scale, a new sub-brand providing remote workforce housing solutions.
- Target Hyper/Scale will focus on supporting data center and other supporting infrastructure projects across North America.
- The new sub-brand offers turnkey solutions for workforce housing, including land acquisition, design, construction, and on-site hospitality operations, to help attract and retain workers for large-scale, remote projects.
Oct 27, 2025, 10:45 AM
Quarterly earnings call transcripts for Target Hospitality.
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