NASDAQ$TH
Target Hospitality Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported exceptional third quarter results driven by significant cash flows and strengthening customer demand led by government contracts.
Target Hospitality reported an 85% increase in revenue to $89.2 million and a net income increase to $6.7 million for the third quarter of 2021. The company also raised its full year 2021 financial outlook by 7% for revenue and 9% for Adjusted EBITDA.
- Revenue increased to $89.2 million, an increase of 85% year-over-year.
- Net income increased to $6.7 million, an increase of $14.3 million year-over-year.
- Adjusted EBITDA of $37.5 million, up 121% year-over-year.
- Approximately 52% of third quarter 2021 revenue related to committed revenue contracts backed by the United States Government.
Headline financials
Revenue & EPS history
Target Hospitality · Revenue · Quarterly
$89.2M
Revenue by segment
Target Hospitality · $78M total across 3 segments · Q3 2021
- Government$46.4M+185.5%59.5%
- Hospitality & Facilities Services - South$31.1M—39.8%
- All Other$529K-95.5%0.7%
Forward guidance
Target Hospitality raised 2021 financial outlook to total revenue between $280 and $285 million and Adjusted EBITDA between $110 and $113 million.
Tailwinds
- Total revenue between $280 and $285 million
- Adjusted EBITDA between $110 and $113 million
- Interest expense between $33 and $35 million
- Discretionary Cash Flow between $75 and $80 million
- Targeting a total net leverage ratio below 3.0x by year end 2021
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 Q3 2021
+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% | +33.4% | +57.8% | |
| Q4 2020 | +6.8% | -7.7% | +29.7% | |
| 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 | — | — | — |
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