TH - Target Hospitality beats Q2 top and bottom line estimates; updates FY23 outlook

2023-08-09 06:52:55 ET

• Target Hospitality press release ( NASDAQ: TH ): Q2 GAAP EPS of $0.44 beats by $0.07 .
• Revenue of $143.6M (+31.0% Y/Y) beats by $9M .
• Record Adjusted EBITDA of $90.9 million for the second quarter 2023, an increase of 62% compared to the same period in 2022
• Generated net cash provided by operating activities of over $379 million and Discretionary Cash Flow of over $368 million for the twelve months ended June 30, 2023.

• Outlook: The company is providing its 2023 outlook, excluding acquisitions of:

  • Total revenue between $550 and $580 million vs. consensus of $553.53M.
  • Adjusted EBITDA between $346 and $365 million.
  • Total capital spending between $25 and $35 million, excluding acquisitions.
  • Zero net debt by year end 2023.

  In addition, the 2023 financial outlook includes non-cash infrastructure revenue amortization of approximately $117 million associated with the Expanded PCC Community enhancements.

For further details see: