Target Hospitality Corp

For the period ended Mar 31, 2024. Filed May 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

TH$10.30-6.9%Stored close · as of Nov 10, 2026

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Contents

Unaudited Consolidated Statements of Comprehensive Income

($ in thousands, except per share amounts)


· · For the Three Months Ended
· · March 31,
· 2024 · 2023
Revenue: · · · · ·
Services income	$72,398	$94,836
Specialty rental income	34,274	52,983
Total revenue	106,672	147,819
Costs:
Services	36,915	39,700
Specialty rental	5,908	8,559
Depreciation of specialty rental assets	14,781	17,597
Gross profit	49,068	81,963
Selling, general and administrative	14,855	15,199
Other depreciation and amortization	3,885	3,803
Other expense (income), net	(110)	1,004
Operating income	30,438	61,957
Loss on extinguishment of debt	—	2,128
Interest expense, net	4,587	7,498
Change in fair value of warrant liabilities	(675)	(3,711)
Income before income tax	26,526	56,042
Income tax expense	6,143	12,217
Net income	20,383	43,825
Change in fair value of warrant liabilities	—	(3,711)
Net income attributable to common stockholders - diluted	20,383	40,114

Other comprehensive loss
Foreign currency translation	(20)	(21)
Comprehensive income	$20,363	$43,804


Weighted average number shares outstanding - basic	100,657,706	100,643,271
Weighted average number shares outstanding - diluted	102,362,542	106,257,448

Net income per share - basic	$0.20	$0.44
Net income per share - diluted	$0.20	$0.38

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.