Target Hospitality Q4 2021 Earnings Report
Key Takeaways
Target Hospitality Corp. reported strong Q4 2021 results, with revenue increasing to $81.7 million compared to $51.6 million for the same period in 2020 and net income of $2.8 million compared to a net loss of $9.3 million for the same period in 2020.
Revenue increased due to the government services contract and increased demand in the HFS – South segment.
Net income was $2.8 million, a significant improvement from the net loss in 2020.
Adjusted EBITDA increased by 113% compared to the same period in 2020.
Average utilized beds increased by 97% due to the government services contract and increased demand in the HFS – South segment.
Target Hospitality
Target Hospitality
Target Hospitality Revenue by Segment
Forward Guidance
The Company announced 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