TH FY 2022 Earnings Report — Target Hospitality Corp. Revenue & Financial Results | Market Cap Arena

Target Hospitality Corp.TH

FY 2022 Earnings

Reported March 10, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$502M	—	$291M	—	72.3%
Op. Income	$174M	—	$37M	—	370.0%
Gross Margin	49.2%	—	34.8%	—	14.4pp
Net Margin	14.7%	—	-1.6%	—	16.3pp
EPS (Diluted)	$0.74	—	$-0.05	—	1661.2%
Free Cash Flow	$165M	—	$69M	—	138.4%

Revenue Flow

Item	Amount
REVENUE	$502M
Cost of Revenue	$255M
GROSS PROFIT	$247M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$58M
Other Expenses	$15M
Operating Expenses	$73M
Cost & Expenses	$328M
OPERATING INCOME	$174M
Interest Income	$2M
Interest Expense	$38M
Other Income/Expenses	-$68M
INCOME BEFORE TAX	$106M
Income Tax Expense	$32M
Net Income from Continuing Ops	$74M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$74M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$74M
D&A	$80M
EBIT	$144M
EBITDA	$224M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$502M
Cost of Revenue	$255M
GROSS PROFIT	$247M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$58M
Other Expenses	$15M
Operating Expenses	$73M
Cost & Expenses	$328M
OPERATING INCOME	$174M
Interest Income	$2M
Interest Expense	$38M
Other Income/Expenses	-$68M
INCOME BEFORE TAX	$106M
Income Tax Expense	$32M
Net Income from Continuing Ops	$74M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$74M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$74M
D&A	$80M
EBIT	$144M
EBITDA	$224M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$74M
Depreciation & Amortization	$68M
Stock-Based Compensation	$19M
Deferred Income Tax	$30M
Other Non-Cash Items	$48M
Change in Working Capital	$66M
OPERATING CASH FLOW	$306M
Capital Expenditure	-$141M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$615.0K
NET CASH FROM INVESTING	-$140M
Net Debt Issuance	-$7M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$590.0K
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$165M
Net Change in Cash	$158M

Balance Sheet

Item	Amount
Cash & Equivalents	$182M
Short-Term Investments	$0
Net Receivables	$42M
Inventory	$0
Other Current Assets	$13M
TOTAL CURRENT ASSETS	$236M
PP&E (Net)	$416M
Goodwill	$41M
Intangible Assets	$75M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$535M
TOTAL ASSETS	$772M
Account Payables	$18M
Short-Term Debt	$0
Deferred Revenue	$120M
Other Current Liabilities	$12M
TOTAL CURRENT LIABILITIES	$191M
Long-Term Debt	$329M
Deferred Revenue NC	$5M
Deferred Tax Liabilities	$15M
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$380M
TOTAL LIABILITIES	$571M
Common Stock	$10.0K
Additional Paid-In Capital	$139M
Retained Earnings	$88M
Treasury Stock	-$24M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$201M
Minority Interest	$0
TOTAL EQUITY	$201M
TOTAL LIABILITIES & EQUITY	$772M
Total Debt	$355M
Net Debt	$173M