Target Hospitality (TH) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 12, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

-0.1

Last Year’s EPS

-0.07

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 3 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 11, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents strong commercial momentum driven by a large pipeline and sizeable multiyear contract awards (>$740M total, >$495M WHS), meaningful balance sheet strength (zero net debt, ~$183M liquidity), and a confident 2026 financial outlook. Near-term headwinds include compressed margins in Q4 due to construction-heavy revenue mix, modest Q4 adjusted EBITDA (~$7M), corporate expense true-ups, and limited spare bed inventory (3,000–4,000) that may require incremental capital or purchases if much of the 20,000-bed pipeline converts quickly. Management expects Q1 to be the low point and anticipates margin expansion as WHS contracts shift from construction to services and as community expansions scale. Overall the positive contract momentum, strong liquidity, and clear path to higher-margin recurring revenue materially outweigh the near-term operational and timing challenges.

Company Guidance

The 2026 guidance calls for total revenue of $320–$330 million, adjusted EBITDA of $60–$70 million and capital spending (ex‑acquisitions) of $65–$75 million, with Q1 as the low point and steady ramp thereafter to exit 2026 at an annualized revenue run rate of >$360 million and adjusted EBITDA >$90 million; management expects the WHS segment to be the largest by 2026, contributing >40% of consolidated revenue. For context, Q4 2025 revenue was ≈$90 million with adjusted EBITDA ≈$7 million, corporate expense ≈$18 million and quarterly capex ≈$16 million; the company finished 2025 with zero net debt, available liquidity of ≈$183 million, cash from operations >$74 million and discretionary cash flow of $66 million. The outlook is supported by >$740 million in multiyear contract awards since Feb 2025 (including >$495 million in WHS), a pipeline of >20,000 beds, reactivation of nearly 3,000 beds, ~3,000–4,000 beds of remaining inventory, and specific contract commitments such as a ~$170 million workforce hub, a data‑center community with ~$134 million minimum revenue through May 2028, a West Texas Power Community (~$129 million over 47 months for up to 1,400 beds) and the Pecos Power Community (> $23 million over 26 months for up to 400 beds).

Strong Contract Wins and WHS Expansion

Secured more than $740 million in long-term contract awards since February 2025, including over $495 million within the rapidly expanding WHS segment; WHS awards reactivated nearly 3,000 beds in under a year and created an active pipeline representing more than 20,000 beds.

Workforce Hub Contract Upsized

Workforce hub contract scope expanded during Q4, raising total contract value to approximately $170 million — a 25% increase from the original contract value; construction substantially complete and expected to shift to higher-margin services in 2026.

New West Texas Power and Pecos Contracts

Awarded West Texas Power Community (~$129 million minimum revenue over 47 months for up to 1,400 individuals) and Pecos Power Community (~$23 million minimum revenue over 26 months for up to 400 individuals); combined reactivates >1,800 beds and represents >$150 million in multiyear committed minimum revenue.

Revenue and Adjusted EBITDA (Q4 and FY 2025)

Fourth quarter total revenue of approximately $90 million and adjusted EBITDA of approximately $7 million; full-year cash flows from operations exceeded $74 million and discretionary cash flow was $66 million for the year ended 12/31/2025.

Robust 2026 Outlook and Expected Ramp

2026 guidance: total revenue of $320–$330 million and adjusted EBITDA of $60–$70 million, with capital spending of $65–$75 million (ex-acquisitions); company expects steady ramp through the year and to exit 2026 with a run rate >$360 million revenue and adjusted EBITDA >$90 million (based on announced contracts).

Balance Sheet Strength and Liquidity

Ended the quarter with zero net debt and approximately $183 million of available liquidity; capex guidance for 2026 ($65–$75 million) is expected to be funded by current liquidity and contract structures without incremental financing.

Data Center Community Traction and Economics

Data center community grew 320% from an initial 250-bed footprint in months and is being expanded in two 400-bed phases in 2026; the data center community contract is expected to generate approximately $134 million of committed minimum revenue through May 2028 and deliver improved margins as scale and efficiencies are realized.

Platform Differentiation and Market Positioning

Launched Target Hyperscale and emphasized vertically integrated accommodations platform and speed-to-market modular offerings, positioning the company to capture demand from AI infrastructure, critical minerals, and power generation megaprojects.

Target Hospitality (TH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 12, 2026	2026 (Q1)	-0.10 / -	-0.07	―	―	―
Mar 11, 2026	2025 (Q4)	-0.12 / -0.15	0.12	-225.00% (-0.27)
Nov 06, 2025	2025 (Q3)	-0.06 / -0.01	0.237	-104.22% (-0.25)	―
Aug 07, 2025	2025 (Q2)	-0.11 / -0.15	0.219	-168.49% (-0.37)	―
May 19, 2025	2025 (Q1)	-0.02 / -0.07	0.238	-129.41% (-0.31)	―
Mar 26, 2025	2024 (Q4)	0.07 / 0.12	0.31	-61.29% (-0.19)	―
Nov 12, 2024	2024 (Q3)	0.12 / 0.24	0.43	-44.88% (-0.19)	―
Aug 07, 2024	2024 (Q2)	0.17 / 0.22	0.44	-50.23% (-0.22)	―
May 08, 2024	2024 (Q1)	0.15 / 0.24	0.38	-37.37% (-0.14)	―
Mar 13, 2024	2023 (Q4)	0.25 / 0.31	0.375	-17.33% (-0.07)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 11, 2026	$7.98	$9.08	+13.78%
Nov 06, 2025	$7.72	$6.52	-15.54%
Aug 07, 2025	$7.30	$8.18	+12.05%
May 19, 2025	$7.10	$7.46	+5.07%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Target Hospitality Corp (TH) report earnings?

Target Hospitality Corp (TH) is schdueled to report earning on May 12, 2026, After Close (Confirmed).

What is Target Hospitality Corp (TH) earnings time?

Target Hospitality Corp (TH) earnings time is at May 12, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TH EPS forecast?

TH EPS forecast for the fiscal quarter 2026 (Q1) is -0.1.