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Target Hospitality TH Q2 2026 earnings

Reported August 10, 2026 · Before market open

Revenue$85.5MBeat by $6.2M
EPS-$0.09Beat by $0.02
Revenue estimate$79.3M
EPS estimate-$0.11
“Our second-quarter results demonstrate our ability to execute at scale while simultaneously responding to accelerating customer demand. Since January, we have announced over $1.4 billion of multi-year contract awards representing over 9,000 beds in our rapidly expanding WHS segment. These accomplishments have strengthened our business fundamentals through durable, long-term contracts, reinforcing confidence in our strategic growth initiatives. Combined with closing a new $660 million credit facility, we have substantial financial flexibility to pursue the deepest commercial growth pipeline in our history.”
Brad Archer

Next report

Nov 5, 2026 (in a month)
Revenue estimate$118.4M
EPS estimate$0.01

Financials

Q2 2026

Income statement

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Revenue$85.5M+38.7%
Gross profit$15.8M+4,916%
Operating income-$7.5M+55.7%
Net income-$9.0M+39.5%
EPS (diluted)-$0.09+40.0%

Balance sheet

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Cash & equivalents$6.1M-68.5%
Total debt$10.9M-21.2%
Total equity$370.1M-7.8%
Total assets$654.2M+22.6%

Cash flow

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Operating cash flow$104.0M+840%
CapEx$5.4M+15,466%
Free cash flow$98.5M+794%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$2.01B+155%
Enterprise value$2.01B+161%
P/S5.8×+3.3×

Profitability

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Gross margin13.7%-18.4pp
Operating margin-11.1%-21.0pp
Net margin-10.8%-14.4pp
FCF margin47.3%+22.9pp

Returns & leverage

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Return on equity-9.8%-12.6pp
Debt / equity0×0.0×
Current ratio0.6×-0.8×

Segments

By segment

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Workforce Hospitality Solutions$36.3M+142%
Hospitality And Facilities Services South$32.6M-9.8%
Government$13.5M+80.2%
All Other Segments$3.0M+2.8%

By product

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Service$51.8M+28.1%
Construction Fee Income$2.9M-80.1%

FAQ

When did Target Hospitality report Q2 2026 earnings?
Target Hospitality (TH) reported Q2 2026 earnings on August 10, 2026 before market open.
What were Target Hospitality's Q2 2026 revenue and EPS?
Target Hospitality reported revenue of $85.5M and eps of $-0.09 for Q2 2026.
Did Target Hospitality beat estimates in Q2 2026?
Revenue beat the consensus estimate of $79.3M by $6.2M. EPS beat the consensus estimate of $-0.11 by $0.02.
How did Target Hospitality's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 38.7% from $61.6M a year earlier and eps grew 40.0% from $-0.15.
Where can I find Target Hospitality's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-093011) and the 10-Q periodic report (0001104659-26-093264) directly on SEC EDGAR. The filing index links above go to sec.gov.