Loading...
•
Mar 31, 2023
Target Hospitality Q1 2023 Earnings Report
Reported strong results with sustained business momentum and continued achievement of strategic objectives.
Key Takeaways
Target Hospitality reported a strong first quarter with revenue increasing by 84% to $147.8 million and net income reaching $43.8 million, driven by growth in the Government segment and the Expanded Humanitarian Community.
Revenue increased 84% to $147.8 million compared to Q1 2022.
Net income was $43.8 million, a significant increase from $0.5 million in the same period last year.
Adjusted EBITDA increased 171% to $90.6 million year-over-year.
The company achieved a strategic objective with an 80% improvement in net leverage ratio, reaching 0.5x as of March 31, 2023.
Target Hospitality
Target Hospitality
Target Hospitality Revenue by Segment
Revenue by Segment
Government Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
Target Hospitality provided preliminary 2023 outlook, excluding acquisitions, including total minimum revenue of $525 million, total maximum revenue of $710 million, minimum Adjusted EBITDA of $365 million, and total capital spending between $20 and $30 million.
Positive Outlook
- 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
- Total capital spending between $20 and $30 million, excluding acquisitions
- Zero net debt by second half of 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income