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Dec 31, 2019
Target Hospitality Q4 2019 Earnings Report
Target Hospitality experienced a revenue decrease due to reduced activity in the TCPL project, while maintaining a strong Adjusted EBITDA margin.
Key Takeaways
Target Hospitality reported a decrease in revenue and net income for Q4 2019 compared to Q4 2018, primarily due to reduced activity associated with the TC Energy Corporation's (TCPL) project and a net loss on the sale of non-strategic land parcels. However, the Adjusted EBITDA margin remained strong at 47%.
Total revenue decreased by 21% to $76.1 million due to a reduction in the activity associated with the TCPL project.
Net income decreased to $0.1 million, largely attributable to a $6.9 million pre-tax net loss on the sale of non-strategic land parcels.
Adjusted EBITDA decreased by 18% to $36.0 million, but the Adjusted EBITDA margin remained strong at 47%.
ADR decreased by approximately $2.20, or 3%, to $80.90, primarily due to a lower average ADR from the acquired Signor communities.
Revenue by Segment
Revenue & Expenses
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Avg. Return Before/After Earnings
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