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Mar 31, 2021
Target Hospitality Q1 2021 Earnings Report
Reported results for the first quarter of 2021 and raised full year 2021 financial outlook.
Key Takeaways
Target Hospitality reported a revenue of $45.5 million and a net loss of $13.1 million for the first quarter of 2021. The company executed a $118 million minimum revenue contract and increased the midpoint of its 2021 Adjusted EBITDA outlook range by 11% to $97 - $107 million.
Revenue of $45.5 million for the three months ended March 31, 2021, compared to $71.7 million for the same period in 2020.
Net loss of $13.1 million for the three months ended March 31, 2021, compared to net income of $5.5 million for first quarter 2020
Adjusted EBITDA of $16.0 million for the three months ended March 31, 2021, compared to $32.4 million for the same period in 2020
Executed a $118 million minimum revenue contract that provides a suite of comprehensive service offerings assisting humanitarian aid efforts in support of the United States Government
Revenue by Segment
Forward Guidance
The Company expects consistent improvements within its legacy markets and the addition of a fully committed $118 million minimum revenue contract increases the 2021 revenue outlook, which provides the foundation to materially enhance operational flexibility through meaningful cash flow generation.
Positive Outlook
- Total revenue between $260 and $270 million
- Adjusted EBITDA between $97 and $107 million
- Interest expense between $33 and $35 million
- Discretionary Cash Flow between $65 and $70 million
- Total capital spending between $15 and $20 million, excluding acquisitions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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