Target Hospitality Corp
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
View on SEC.govAbout 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.
Jun 30, 2024 · Filed Aug 7, 2024
TH$10.30-6.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Statements of Comprehensive Income
($ in thousands, except per share amounts)
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · For the Three Months Ended · · For the Six Months Ended | ||||||||||||
| · · June 30, · · June 30, | ||||||||||||
| · 2024 · 2023 · · 2024 · 2023 | ||||||||||||
| Revenue: · · · · · · · · · · · | ||||||||||||
| Services income | | $67,491 | | $92,523 | | $139,889 | | $187,359 | ||||
| Specialty rental income | | 33,230 | | 51,107 | | 67,504 | | 104,090 | ||||
| Total revenue | | 100,721 | | 143,630 | | 207,393 | | 291,449 | ||||
| Costs: | | | | | | | | | ||||
| Services | | 33,557 | | 35,734 | | 70,472 | | 75,434 | ||||
| Specialty rental | | 5,489 | | 7,538 | | 11,397 | | 16,097 | ||||
| Depreciation of specialty rental assets | | 14,805 | | 17,992 | | 29,586 | | 35,589 | ||||
| Gross profit | | 46,870 | | 82,366 | | 95,938 | | 164,329 | ||||
| Selling, general and administrative | | 13,457 | | 13,457 | | 28,312 | | 28,656 | ||||
| Other depreciation and amortization | | 3,908 | | 3,841 | | 7,792 | | 7,644 | ||||
| Other expense (income), net | | (46) | | 311 | | (156) | | 1,315 | ||||
| Operating income | | 29,551 | | 64,757 | | 59,990 | | 126,714 | ||||
| Loss on extinguishment of debt | | | — | | | — | | | — | | | 2,128 |
| Interest expense, net | | 4,273 | | 5,276 | | 8,861 | | 12,773 | ||||
| Change in fair value of warrant liabilities | | | — | | | (675) | | | (675) | | | (4,385) |
| Income before income tax | | 25,278 | | 60,156 | | 51,804 | | 116,198 | ||||
| Income tax expense | | 6,892 | | 13,703 | | 13,035 | | 25,920 | ||||
| Net income | | 18,386 | | 46,453 | | 38,769 | | 90,278 | ||||
| Change in fair value of warrant liabilities | | | — | | | (675) | | | — | | | (4,385) |
| Net income attributable to common stockholders - diluted | | | 18,386 | | | 45,778 | | | 38,769 | | | 85,893 |
| | | | | | | | | | | | | |
| Other comprehensive loss | | | | | | | | | ||||
| Foreign currency translation | | (20) | | (5) | | (40) | | (26) | ||||
| Comprehensive income | | $18,366 | | $46,448 | | $38,729 | | $90,252 | ||||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| Weighted average number shares outstanding - basic | | 100,261,964 | | 101,465,088 | | 100,459,835 | | 101,056,450 | ||||
| Weighted average number shares outstanding - diluted | | | 101,253,180 | | | 105,045,608 | | | 101,913,814 | | | 105,699,684 |
| | | | | | | | | | | | | |
| Net income per share - basic | | $0.18 | | $0.46 | | $0.39 | | $0.89 | ||||
| Net income per share - diluted | | $0.18 | | $0.44 | | $0.38 | | $0.81 | ||||
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