Target Hospitality Corp

For the period ended Sep 30, 2024. Filed Nov 12, 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.

Sep 30, 2024 · Filed Nov 12, 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 · · For the Nine Months Ended
· · September 30, · · September 30,
· 2024 · 2023 · · 2024 · 2023
Revenue: · · · · · · · · · · ·
Services income	$65,796	$93,538	$205,685	$280,897
Specialty rental income	29,395	52,401	96,899	156,491
Total revenue	95,191	145,939	302,584	437,388
Costs:
Services	31,262	34,035	101,734	109,469
Specialty rental	4,662	7,495	16,059	23,592
Depreciation of specialty rental assets	14,057	17,653	43,643	53,242
Gross profit	45,210	86,756	141,148	251,085
Selling, general and administrative	13,319	15,273	41,632	43,929
Other depreciation and amortization	3,902	3,838	11,695	11,482
Other expense (income), net	(2)	(71)	(158)	1,244
Operating income	27,991	67,716	87,979	194,430
Loss on extinguishment of debt	—	—	—	2,128
Interest expense, net	3,813	4,953	12,673	17,726
Change in fair value of warrant liabilities	—	2,576	(675)	(1,809)
Income before income tax	24,178	60,187	75,981	176,385
Income tax expense	4,084	14,608	17,118	40,528
Net income	20,094	45,579	58,863	135,857
Less: Net income attributable to the noncontrolling interest	100	—	100	—
Net income attributable to Target Hospitality Corp. common stockholders	19,994	45,579	58,763	135,857
Change in fair value of warrant liabilities	—	—	—	(1,809)
Net income attributable to Target Hospitality Corp. common stockholders - diluted	19,994	45,579	58,763	134,048

Other comprehensive loss
Foreign currency translation	(12)	(21)	(52)	(47)
Comprehensive income	$20,082	$45,558	$58,811	$135,810


Weighted average number shares outstanding - basic	100,438,559	101,620,537	100,452,691	101,246,546
Weighted average number shares outstanding - diluted	101,296,504	105,093,694	101,744,462	105,632,139

Net income per share attributable to Target Hospitality Corp. common stockholders - basic	$0.20	$0.45	$0.58	$1.34
Net income per share attributable to Target Hospitality Corp. common stockholders - diluted	$0.20	$0.43	$0.58	$1.27

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.