Target Hospitality Corp

NASDAQ:THUnited States

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• Target Hospitality Shares Rise After Company Posts Forecast-Beating Q1 Results, from 5 hours ago by MT Newswires

  5 hours ago by MT Newswires
  Companies Mentioned: TH
  09:55 AM EDT, 05/08/2024 (MT Newswires) -- Target Hospitality (TH) shares were up nearly 5% in recent Wednesday trading after the company reported forecast-beating Q1 financial results. The rental and hospitality services company reported Q1 earning...

• -- Earnings Flash (TH) TARGET HOSPITALITY Posts Q1 Revenue $106.7M, from 8 hours ago by MT Newswires

  8 hours ago by MT Newswires
  Companies Mentioned: TH
  06:48 AM EDT, 05/08/2024 (MT Newswires) -- ...

• Target Hospitality Reports Strong First Quarter 2024 Results Centered on Strength of Core Service Offering Further Enhancing Financial Position, from 9 hours ago by PR Newswire

  9 hours ago by PR Newswire
  Companies Mentioned: TH

  Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), one of North America's largest providers of vertically-integrated modular accommodations and value-added hospitality services, today reported results for the three months ended March 31, 2024.

• Target Hospitality Reports Strong First Quarter 2024 Results Centered on Strength of Core Service Offering Further Enhancing Financial Position, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: TH
  Exhibit 3 Target Hospitality Corp. Condensed Consolidated Cash Flow Data ($ in thousands) (unaudited) For the Years Ended March 31, --------------------- 2024 2023 --------- ---------- Cash and cash equivalents - beginning of period $ 103,929 $ 181,673 Cash flows from operating activities Net income 20,383 43,825 Adjustments: Depreciation 15,303 18,065 Amortization of intangible assets 3,363 3,335 Other non-cash items 4,773 17,990 Changes in operating assets and liabilities 6,769 (68,686) -------- --------- Net cash provided by operating activities $ 50,591 $ 14,529 Cash flows from investing activities Purchases of specialty rental assets (8,825) (23,002) Other investing activities (93) (5,443) -------- --------- Net cash used in investing activities $ (8,918) $ (28,445) Cash flows from financing activities Other financing activities (21,296) (125,325) -------- --------- Net cash used in financing activities $(21,296) $(125,325) Effect of exchange rate changes on cash and cash equivalents (4) 6 Change in cash and cash equivalents 20,373 (139,235) Cash and cash equivalents - end of period $ 124,302 $ 42,438 ======== ========= Exhibit 4 Target Hospitality Corp. Reconciliation of Gross profit to Adjusted gross profit ($ in thousands) (unaudited) For the Three Months Ended March 31, ------------------------------ 2024 2023 ----------------- ----------- Gross Profit $ 49,068 $ 81,963 Adjustments: Depreciation of specialty rental assets 14,781 17,597 ---- ----------- ---------- Adjusted gross profit $ 63,849 $ 99,560 ==== =========== ========== Exhibit 5 Target Hospitality Corp. Reconciliation of Net income to EBITDA and Adjusted EBITDA ($ in thousands) (unaudited) For the Three Months Ended March 31, ------------------------------ 2024 2023 --------------- ------------- Net income $ 20,383 $ 43,825 Income tax expense 6,143 12,217 Interest expense, net 4,587 7,498 Loss on extinguishment of debt -- 2,128 Other depreciation and amortization 3,885 3,803 Depreciation of specialty rental assets 14,781 17,597 ----------- ------------ EBITDA $ 49,779 $ 87,068 Adjustments Other expense (income), net (110) 1,004 Transaction expenses 240 51 Stock-based compensation 2,748 5,646 Change in fair value of warrant liabilities (675) (3,711) Other adjustments 1,706 539 ----------- ------------ Adjusted EBITDA $ 53,688 $ 90,597 =========== ============ Exhibit 6 Target Hospitality Corp. Reconciliation of Net cash provided by operating activities to Discretionary cash flows ($ in thousands) (unaudited) For the Three Months Ended March 31, ------------------------ 2024 2023 ------------ ---------- Net cash provided by operating activities $ 50,591 $ 14,529 Less: Maintenance capital expenditures for specialty rental assets (3,082) (1,808) -------- --------- Discretionary cash flows $ 47,509 $ 12,721 -------- --------- Purchase of specialty rental assets (8,825) (23,002) Purchase of property, plant and equipment (135) (1,015) Acquired intangible assets -- (4,547) Proceeds from sale of specialty rental assets and other property, plant and equipment 42 119 -------- --------- Net cash used in investing activities $ (8,918) $ (28,445) -------- --------- Principal payments on finance and finance lease obligations (407) (356) Repayment of Senior Notes -- (125,000) Repurchase of Common Stock (21,160) -- Proceeds from issuance of Common Stock from exercise of warrants 3 42 Proceeds from issuance of Common Stock from exercise of stock options 268 1,252 Payment of deferred financing costs -- (1,263) Net cash used in financing activities $ (21,296) $(125,325) -------- ---------
  

• *DJ Target Hospitality 1Q EPS 20c >TH, from 9 hours ago by Dow Jones

  9 hours ago by Dow Jones
  Companies Mentioned: TH