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Target Hospitality TH Q3 2025 earnings

Reported November 6, 2025 · Before market open

Revenue$99.4MBeat by $14.2M
EPS-$0.01Beat by $0.03
Revenue estimate$85.2M
EPS estimate-$0.04

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$99.4M+4.4%
Gross profit$17.9M-60.3%
Operating income$69.0K-99.8%
Net income-$795.0K-104%
EPS (diluted)-$0.01-105%

Balance sheet

See full
Cash & equivalents$30.4M-82.9%
Total debt$13.2M-93.3%
Total equity$402.4M-3.6%
Total assets$541.2M-23.8%

Cash flow

See full
Operating cash flow$53.4M+69.8%
CapEx$49.0K-22.2%
Free cash flow$53.3M+70.0%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$846.12M+8.5%
Enterprise value$828.98M+3.8%
P/S2.7×+0.9×

Profitability

See full
Gross margin23.1%-24.3pp
Operating margin0.9%-30.4pp
Net margin-3.1%-25.6pp
FCF margin31.1%-6.0pp

Returns & leverage

See full
Return on equity-2.4%-27.9pp
Debt / equity0×-0.4×
Current ratio1×0.0×

Segments

By segment

See full
Workforce Hospitality Solutions$36.8M—
Hospitality And Facilities Services South$35.6M-6.5%
Government$23.9M-55.3%
All Other Segments$3.0M-17.8%

By product

See full
Service$56.0M-14.9%
Construction Fee Income$35.6M—

FAQ

When did Target Hospitality report Q3 2025 earnings?
Target Hospitality (TH) reported Q3 2025 earnings on November 6, 2025 before market open.
What were Target Hospitality's Q3 2025 revenue and EPS?
Target Hospitality reported revenue of $99.4M and eps of $-0.01 for Q3 2025.
Did Target Hospitality beat estimates in Q3 2025?
Revenue beat the consensus estimate of $85.2M by $14.2M. EPS beat the consensus estimate of $-0.04 by $0.03.
How did Target Hospitality's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 4.4% from $95.2M a year earlier.
Where can I find Target Hospitality's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-107342) and the 10-Q periodic report (0001104659-25-107639) directly on SEC EDGAR. The filing index links above go to sec.gov.