Target Hospitality Corp. (TH) FY2026 earnings

Reported results

• Revenue was $129.1 million for the three months ended September 30, 2026.
• GAAP Net loss was $9.2 million, representing basic and diluted loss per share of $0.09, for the three months ended September 30, 2026.
• Non-GAAP Adjusted EBITDA was $34.2 million for the three months ended September 30, 2026.
• GAAP Net Cash Provided by Operating Activities was $154.2 million for the nine months ended September 30, 2026.
• Non-GAAP Discretionary Cash Flow was $150.0 million for the nine months ended September 30, 2026.
• Capital expenditures were approximately $246 million for the three months ended September 30, 2026.

Guidance

• Full year 2026 total revenue is expected to be between $435 and $445 million.
• Full year 2026 non-GAAP Adjusted EBITDA is expected to be between $105 and $115 million.
• Full year 2026 Total Capital Expenditures are expected to be between $490 and $510 million, excluding acquisitions.
• Exiting 2027, the Company projects annualized revenue exceeding $750 million and non-GAAP annualized Adjusted EBITDA above $300 million.

Price and volatility reaction

The stock moved -2.6% on the print. No front-expiry chain was on file, so there is no straddle expected move.

Source

The figures above come from the earnings release the company filed with the SEC on 2026-11-09 (8-K, Item 2.02). Read the original filing on sec.gov.