NASDAQ$TH
Target Hospitality Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported record-setting results driven by the Government segment and the expanded PCC community.
Target Hospitality reported a strong second quarter in 2023, with a 31% increase in revenue to $143.6 million and a net income of $46.5 million. The company's adjusted EBITDA increased by 62% to $90.9 million.
- Second quarter revenue increased 31% to $143.6 million compared to the same period in 2022.
- Net income was $46.5 million, compared to $22.9 million for the same period in 2022.
- Adjusted EBITDA was $90.9 million, a 62% increase compared to the same period in 2022.
- The company had approximately $195 million in total available liquidity and a net leverage ratio of 0.4x as of June 30, 2023.
Headline financials
Revenue & EPS history
Target Hospitality · Revenue · Quarterly
$144M
Revenue by segment
Target Hospitality · $144M total across 3 segments · Q2 2023
- Government$101M+35.1%70.4%
- Hospitality & Facilities Services - South$39.2M+20.0%27.3%
- All Other$3.3M+385.6%2.3%
Forward guidance
The Company is providing its 2023 outlook, excluding acquisitions of: Total revenue between $550 and $580 million, Adjusted EBITDA between $346 and $365 million, Total capital spending between $25 and $35 million, excluding acquisitions and Zero net debt by year end 2023.
Tailwinds
- Total revenue between $550 and $580 million
- Adjusted EBITDA between $346 and $365 million
- Total capital spending between $25 and $35 million, excluding acquisitions
- Zero net debt by year end 2023
- Strategic growth opportunities and seeks to allocate over $500 million of net growth capital through 2027
Headwinds
- Sales cycles are inherently longer prior to official contract award and announcement.
- Final outcomes remain uncertain
- Excluding acquisitions
- Government ICF network capacity to approximately 10,000 ICF beds across multiple geographic locations
- Anticipates contract specifications being finalized later in 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+2.0%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+4.5%
Avg return
30 days after
65%
20 / 31 earnings
Positive
+23.7%
Q4 2021
Best reaction
-34.9%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +17.9% | +21.7% | — | |
| Q4 2025 | +13.8% | +14.0% | +81.2% | |
| Q3 2025 | -15.5% | -15.4% | +6.7% | |
| Q1 2025 | +5.1% | +3.8% | -0.3% | |
| Q4 2024 | +6.4% | +7.3% | +3.6% | |
| Q3 2024 | +6.4% | -1.5% | -6.2% | |
| Q2 2024 | +12.5% | +10.5% | +10.5% | |
| Q1 2024 | +5.0% | +4.1% | +0.5% | |
| Q4 2023 | +4.8% | +1.8% | +25.4% | |
| Q3 2023 | -3.6% | -9.1% | -13.4% | |
| Q2 2023 | +7.8% | +13.5% | +21.9% | |
| Q1 2023 | +13.9% | +25.2% | +24.5% | |
| Q4 2022 | +6.0% | +8.4% | -23.0% | |
| Q3 2022 | +17.6% | +23.2% | +38.6% | |
| Q2 2022 | -9.6% | -2.6% | -7.8% | |
| Q1 2022 | -11.0% | -13.3% | -3.2% | |
| Q4 2021 | +23.7% | +18.6% | +19.6% | |
| Q3 2021 | -2.0% | -13.1% | -31.6% | |
| Q2 2021 | -16.4% | -14.4% | -4.2% | |
| Q1 2021 | +8.3% | +32.8% | +56.6% | |
| Q4 2020 | +6.8% | -7.7% | +30.6% | |
| Q3 2020 | +3.2% | +0.4% | +30.7% | |
| Q2 2020 | +12.4% | +13.8% | -9.0% | |
| Q1 2020 | +8.2% | +5.9% | -28.6% | |
| Q4 2019 | -34.9% | -3.1% | -58.3% | |
| Q3 2019 | -11.2% | -15.0% | -15.5% | |
| Q2 2019 | -13.5% | -12.2% | -8.9% | |
| Q1 2019 | -0.7% | -1.1% | -6.7% | |
| Q3 2018 | +0.1% | +0.2% | +1.7% | |
| Q2 2018 | +0.5% | +0.5% | +0.2% | |
| Q1 2018 | -0.5% | +1.0% | -0.7% | |
| Q4 2018 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro