Target Hospitality Q3 revenue up 30%, beats estimates
TH•Target Hospitality’s third-quarter revenue rose 30% to $129.1 million, beating the $118.35 million analyst consensus, while adjusted EBITDA increased 59% to $34.2 million. The company reported a $9.2 million net loss and reaffirmed its 2026 outlook.
1. Quarterly results
Target Hospitality reported third-quarter revenue of $129.1 million, up 30% year over year and above the $118.35 million consensus estimate. Adjusted EBITDA rose 59% to $34.2 million, while the company posted a net loss of $9.2 million.
2. Outlook and drivers
The company reaffirmed its 2026 revenue outlook of $435 million to $445 million and adjusted EBITDA outlook of $105 million to $115 million. It projects annualized revenue above $750 million and adjusted EBITDA above $300 million exiting 2027. Growth and margin gains were primarily driven by its Workforce Hospitality Solutions segment, completion of ramp-up phases at its Dilley, Texas community, a shift toward higher-margin hospitality services, operating efficiencies, and new and expanded multi-year contracts.
