May. 19 at 11:44 AM
$TH
Target Hospitality reported Q1 2025 financial results with revenue of
$69.9 million, down from
$106.7 million in Q1 2024.
The company posted a net loss of
$6.5 million compared to net income of
$20.4 million in the prior year.
Key developments include:
The company secured two major contracts: a multi-year Workforce Hub Contract worth
$140 million through 2027 supporting critical mineral supply chain, and a 5-year
$246 million Dilley Contract for U.S. government initiatives.
Target redeemed all outstanding 10.75% Senior
Notes, expecting annual interest savings of
$19.5 million.
Financial position remains strong with
$169 million in total available liquidity and a net leverage ratio of 0.1x.
The company maintained its 2025 outlook with revenue between
$265-285 million and Adjusted EBITDA between
$47-57 million.
