NASDAQ$TH
Target Hospitality Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Target Hospitality's Q3 2023 performance was marked by strong financial results and strategic advancements.
Target Hospitality reported Q3 2023 revenue of $145.9 million and net income of $45.6 million, with adjusted EBITDA reaching $95.0 million. The company also announced a contract award for the Influx Care Facility at its Pecos Children’s Center and is optimizing its financial position, anticipating available liquidity to exceed $315 million by year-end 2023.
- Revenue reached $145.9 million, compared to $159.6 million for the same period in 2022.
- Net income increased to $45.6 million, up from $19.0 million in the same period last year.
- Adjusted EBITDA rose by 13% to $95.0 million.
- The company anticipates available liquidity exceeding $315 million by year-end 2023.
Headline financials
Revenue & EPS history
Target Hospitality · Revenue · Quarterly
$146M
Revenue by segment
Target Hospitality · $146M total across 3 segments · Q3 2023
- Government$106M-14.4%72.3%
- Hospitality & Facilities Services - South$37.5M+11.6%25.7%
- All Other$2.87M+275.3%2.0%
Forward guidance
Target Hospitality is reiterating its 2023 outlook, excluding acquisitions, with total revenue expected to be between $550 and $580 million and adjusted EBITDA between $346 and $365 million.
Tailwinds
- Total revenue between $550 and $580 million
- Adjusted EBITDA between $346 and $365 million
- Total capital spending between $30 and $35 million, excluding acquisitions
- Zero net debt by year end 2023
- Includes non-cash infrastructure revenue amortization of approximately $117 million
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 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 | — | — | — |
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