THE WOODS, TEXAS, March 10, 2023 /PRNewswire/ — Target Hospitality Corp. (“Target Hospitality”, “Target” or the “Company”) thone of North America largest provider of vertically integrated modular accommodation and value-added hospitality services, today reported results for the fourth quarter and year ended December 31, 2022.

Financial and operational highlights

• Record sales of $502.0 million for the past year December 31, 2022a 72% increase year over year
• net income from $73.9 million for the past year December 31, 2022compared to a net loss of $4.6 million for the same period in 2021
• Basic and diluted earnings per share of $0.76 And $0.74each for the past year December 31, 2022
• Adjusted EBITDA at record level⁽¹⁾ from $264.7 million for the past year December 31, 2022a 122% increase over 2021
• Record cash generation with net cash from operations of $305.6 million and Discretionary Cash Flow (“DCF”)⁽¹⁾ from $293.3 million for the past year December 31, 2022
• Optimal financial flexibility with over $307 million in total available liquidity and net leverage ratio of 0.6 times December 31, 2022
• Strong business momentum supporting four consecutive quarterly increases in customer demand in Target’s Hospitality and Facility Services (“HFS”) segments and a 17% increase in beds utilized compared to 2021
• Renewed numerous HFS customer contracts worth over 200 million dollars of cumulative revenue through 2028
• Maximizing network optimization with a 25% increase in average beds occupied starting in 2021
• Implementing strategic diversification, with approximately 72% of revenue in 2022 coming from committed revenue contracts The United States Government
• At February 2, 2023amended and extended the term of the Company’s ABL Credit Facility, dated March 15, 2019 (as amended, the “Amended ABL Facility”), further consolidating its strong financial position
• At February 28, 2023announced the partial redemption of 9.50% Senior Secured Notes due 2024…