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Mar 31, 2022
Target Hospitality Q1 2022 Earnings Report
Target Hospitality reported strong results driven by execution of government services contract and increasing customer demand.
Key Takeaways
Target Hospitality reported a strong first quarter with revenue of $80.3 million, a 77% increase year-over-year. Net income was $0.5 million, compared to a net loss of $13.1 million in the same period last year. Adjusted EBITDA was $33.4 million, a 109% increase year-over-year.
Revenue increased by 77% year-over-year to $80.3 million.
Net income was $0.5 million, a significant improvement from the $13.1 million net loss in the same period last year.
Adjusted EBITDA increased by 109% year-over-year to $33.4 million.
Government segment revenue increased by 159% compared to the same period in 2021.
Target Hospitality
Target Hospitality
Target Hospitality Revenue by Segment
Forward Guidance
The Company reiterated its preliminary 2022 financial outlook.
Positive Outlook
- Total revenue between $325 and $335 million
- Adjusted EBITDA between $125 and $135 million
- Total capital spending between $12 and $17 million, excluding acquisitions
Revenue & Expenses
Visualization of income flow from segment revenue to net income