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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.
Target Hospitality
Target Hospitality
Target Hospitality Revenue by Segment
Revenue by Segment
Government Revenue
CapyFin.comAll Other Revenue
CapyFin.com 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