NASDAQ$TH
Target Hospitality Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Target Hospitality reported record setting 2022 results and achieved significant milestone towards multiyear contract award for expanded humanitarian community.
Target Hospitality reported a strong fourth quarter and full year 2022, driven by the Government segment and the Expanded Humanitarian Community. The company achieved record revenue and Adjusted EBITDA for the year, and saw increased customer demand across its HFS segments.
- Record revenue of $502.0 million for year ended December 31, 2022, an increase of 72% year-over-year
- Net income of $73.9 million for year ended December 31, 2022, compared to net loss of $4.6 million for the same period in 2021
- Extended numerous HFS customer contracts worth over $200 million of cumulative revenue through 2028
- Maximizing network optimization with a 25% increase in total average utilized beds from 2021
Headline financials
Revenue & EPS history
Target Hospitality · Revenue · Quarterly
$152M
Revenue by segment
Target Hospitality · $151M total across 3 segments · Q4 2022
- Government$115M+145.3%76.6%
- Hospitality & Facilities Services - South$34.5M+5.9%22.9%
- All Other$714K+34.7%0.5%
Forward guidance
Target Hospitality provided preliminary 2023 outlook, excluding acquisitions, including total minimum revenue of $525 million (excluding variable service revenue), total maximum revenue of $710 million (including variable service revenue), minimum Adjusted EBITDA of $365 million, and zero net debt by second half of 2023.
Tailwinds
- Total minimum revenue of $525 million (excluding variable service revenue)
- Total maximum revenue of $710 million (including variable service revenue)
- Minimum Adjusted EBITDA(1) of $365 million
- Zero net debt by second half of 2023
- 2023 financial outlook includes non-cash infrastructure revenue amortization of approximately $117 million associated with the Expanded Humanitarian Community enhancements.
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 Q4 2022
+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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