Target Hospitality Corp. 8K

Target Hospitality reported strong Q2 2026 growth in revenue and Adjusted EBITDA, secured over $1.4 billion of multi-year contracts, upsized and extended its credit facility to $660 million, and raised its 2026 financial outlook based on expanding Workforce Hospitality Solutions demand.

Target Hospitality Corp. reported its second quarter 2026 results, showing a 39% year-over-year revenue increase to $85.5 million and a narrowed net loss of $9.0 million, driven largely by rapid growth in its Workforce Hospitality Solutions segment and ramp-up of a key government contract. Adjusted EBITDA rose more than fivefold to $18.2 million, supported by over $1.4 billion of multi-year WHS contract awards since January 2026 and more than 9,000 contracted beds, mainly tied to AI-driven data center and power generation infrastructure. The company generated $111.0 million in year-to-date operating cash flow and $108.2 million in discretionary cash flow, increased capital expenditures to support WHS growth, and maintained low net leverage of 0.6x as of June 30, 2026. On July 24, 2026, Target significantly expanded and refinanced its asset-based revolving credit facility from $175 million to $660 million, extending maturity to July 2031 and lowering borrowing costs, which, together with strong contract visibility, led management to raise its full-year 2026 revenue outlook to $410–$420 million and Adjusted EBITDA outlook to $85–$95 million, and to project annualized revenue above $700 million and Adjusted EBITDA above $260 million exiting 2027 based solely on its existing contract portfolio.

Filing Facts

CIK

1712189

Ticker

-

Form

8K

Source Type

sec

Accession

0001104659-26-093011

Alert Tier

7