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Jun 30, 2021
Target Hospitality Q2 2021 Earnings Report
Target Hospitality's Q2 2021 performance was marked by strong financial results and strategic advancements.
Key Takeaways
Target Hospitality reported revenue of $75.0 million, a net loss of $0.9 million, and adjusted EBITDA of $31.9 million in Q2 2021. The company experienced increased customer demand and executed on premier customer diversification, with approximately 60% of revenue related to committed revenue contracts backed by the United States Government.
Revenue increased to $75.0 million, up from $53.6 million in the same period last year.
Net loss decreased to $0.9 million, compared to a net loss of $13.7 million in Q2 2020.
Adjusted EBITDA rose to $31.9 million, compared to $13.4 million in the same period last year.
The company had strong cash generation, with net cash provided by operating activities of $67.4 million.
Revenue by Segment
Forward Guidance
Target Hospitality is reiterating its 2021 financial outlook, expecting total revenue between $260 and $270 million and adjusted EBITDA between $97 and $107 million.
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
- Targeting a total net leverage ratio below 3.5x by year end 2021
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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