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Target Hospitality Corp.

Target Hospitality Corp.

NASDAQ•TH
CEO: Mr. James Bradley Archer
Sector: Industrials
Industry: Specialty Business Services
Listing Date: 2018-03-12
Target Hospitality Corp. operates as a specialty rental and hospitality services company in North America. The company operates through two segments, Hospitality & Facilities Services - South and Government. It owns a network of specialty rental accommodation units. In addition, the company provides catering and food, maintenance, housekeeping, grounds-keeping, security, health and recreation facilities, workforce community management, concierge, and laundry services. It serves the U.S. government contractors and investment grade natural resource development companies. Target Hospitality Corp. was founded in 1978 and is headquartered in The Woodlands, Texas.
Contact Information
9320 Lakeside Boulevard, Suite 300, The Woodlands, TX, 77381, United States
800-832-4242
www.targethospitality.com
Market Cap
$813.20M
P/E (TTM)
-84.0
40.4
Dividend Yield
--
52W High
$11.10
52W Low
$4.00
52W Range
58%
Rank52Top 73.5%
2.9
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025

Financial Dashboard

Q3 2025 Data

Revenue

$99.36M+4.37%
4-Quarter Trend

EPS

-$0.01-105.00%
4-Quarter Trend

FCF

$37.10M+56.89%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Construction Revenue Surge Total Q3 revenue increased 4% to $99.4M, driven by $35.6M Construction Fee Income, a 100% increase.
Debt Extinguished Fully repaid $181.4M 2025 Senior Secured Notes; ABL Facility balance is $0 as of September 30, 2025.
WHS Segment Launch New WHS segment generated $36.8M revenue in Q3 2025, primarily construction fees from Workforce Housing Contract.
Government Payout Received Recognized $11.8M PCC Close-Out Payment in Q3 2025 services income following contract termination.

Risk Factors

Net Loss Widens Net loss attributable to common stockholders reached $(0.8)M in Q3 2025, a 104% decline from prior period income.
Specialty Rental Income Collapse Specialty rental income fell 74% to $7.8M in Q3 2025 due to significant revenue loss from Government contracts.
Operating Cash Flow Drop Operating cash flow decreased 44% to $68.4M for the nine months ended September 30, 2025, versus prior year.
Adjusted EBITDA Decline Adjusted EBITDA dropped 57% to $21.5M in Q3 2025, reflecting higher WHS construction service costs.

Outlook

WHS Growth Focus Actively re-marketing assets from terminated PCC Contract; WHS supports critical mineral and data center development.
Data Center Mobilization Complete Data Center Community construction completed as of September 30, 2025; anticipates meeting growing customer demand.
Strong Liquidity Position Current cash and $175M ABL capacity provide sufficient liquidity to fund operations for at least the next 12 months.
Future Capital Optimization Continues evaluating acquisition opportunities and optimizing capital structure through refinancing or restructuring existing debt.

Peer Comparison

Revenue (TTM)

Ryerson Holding CorporationRYI
$4.47B
-4.9%
Kimball Electronics, Inc.KE
$1.48B
-10.5%
Great Lakes Dredge & Dock CorporationGLDD
$834.60M
+12.5%

Gross Margin (Latest Quarter)

Bowman Consulting Group Ltd.BWMN
47.6%
-4.7pp
Genco Shipping & Trading LimitedGNK
38.3%
+9.7pp
Great Lakes Dredge & Dock CorporationGLDD
22.4%
+3.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
GLDD$934.99M11.616.8%38.4%
RYI$910.24M-39.9-2.8%34.4%
NAT$859.71M450.60.4%46.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
5.9%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 25, 2026
|
EPS:-$0.10
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $99.36M+4.4%
    |
    EPS: $-0.01-105.0%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $61.61M-38.8%
    |
    EPS: $-0.15-183.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 19, 2025|
    Revenue: $69.90M-34.5%
    |
    EPS: $-0.07-135.0%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 26, 2025|
    Revenue: $386.27M-31.5%
    |
    EPS: $0.71-56.2%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $95.19M-34.8%
    |
    EPS: $0.20-55.6%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $100.72M-29.9%
    |
    EPS: $0.18-60.9%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $106.67M-27.8%
    |
    EPS: $0.20-54.5%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 13, 2024|
    Revenue: $563.61M+12.3%
    |
    EPS: $1.62+113.2%
    Beat