Overview
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- TickerTH on Nasdaq1
- IndustryHotels, Rooming Houses, Camps & Other Lodging Places1
- HeadquartersThe Woodlands, Texas1
- Incorporated inDE2
- Business address9320 Lakeside Blvd., Suite 300, The Woodlands, Tx 773812
- Filer categoryAccelerated filer2
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Our company, Target Hospitality, is one of the largest vertically integrated specialty rental and hospitality services companies in North America. We have an extensive network of geographically relocatable specialty rental accommodation units with 16,991 beds across 29 communities. A large portion of our specialty rental asset base is comprised of modular unit assets that are generally interchangeable across segments and geographies. We also operate 2 communities not owned or leased by the Company. A portion of our revenues is currently generated under contracts that include minimum revenue commitments, and nearly all of our revenues are earned through fully executed customer contracts. We expect to continue to enter into additional contracts that include minimum revenue commitments, and we expect these arrangements to comprise a larger share of our revenues going forward.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin21¢$58.5M
- Other costs76¢$210.2M
- Income tax2¢$6.1M
Out of $274.8M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$74.1M
Out of $74.1M of cash from operations.5
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $261.3M6 | $172.2M7 | $214.4M8 | $333.7M9 | $365.6M5 | $265.9M5 | $274.8M5 |
| Gross profit | $147.0M6 | $57.2M7 | $101.3M8 | $247.1M9 | $313.3M5 | $178.2M5 | $42.7M5 |
| Selling, general and admin | $76.6M6 | $38.1M7 | $46.5M8 | $57.9M9 | $56.1M5 | $54.3M5 | $58.5M5 |
| Operating income | $48.0M6 | $4.1M7 | $37.1M8 | $174.4M9 | $240.6M5 | $108.8M5 | -$34.7M5 |
| Income before tax | -$2.7M8 | $106.3M9 | $224.8M5 | $92.8M5 | -$43.2M5 | ||
| Income tax | $7.6M6 | -$8.5M7 | $1.9M8 | $32.4M9 | $51.0M5 | $21.4M5 | -$6.1M5 |
| Net income | $12.0M6 | -$25.1M7 | -$4.6M8 | $73.9M9 | $173.7M5 | $71.3M5 | -$37.1M5 |
| Earnings per share | $0.136 | -$0.267 | -$0.058 | $0.769 | $1.715 | $0.715 | -$0.375 |
| Earnings per share (diluted) | $0.136 | -$0.267 | -$0.058 | $0.749 | $1.565 | $0.705 | -$0.375 |
| Shares (weighted, basic) | 96.6M shares8 | 97.2M shares9 | 101.4M shares5 | 100.1M shares5 | 99.5M shares5 | ||
| Shares (weighted, diluted) | 96.6M shares8 | 100.1M shares9 | 105.3M shares5 | 101.4M shares5 | 99.5M shares5 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash | $6.8M6 | $7.0M6 | $23.4M7 | $181.7M8 | $103.9M9 | $190.7M5 | $8.3M5 |
| Receivables | $28.8M7 | $42.2M8 | $67.1M9 | $49.3M5 | $56.2M5 | ||
| Inventory | $1.6M7 | $2.0M8 | $2.1M9 | $1.9M5 | $2.1M5 | ||
| Current assets | $60.8M12 | $43.6M6 | $60.5M7 | $236.4M8 | $180.5M9 | $249.3M5 | $73.3M5 |
| Property, plant and equipment | $291.8M7 | $357.1M8 | $349.1M9 | $320.9M9 | |||
| Goodwill | $41.0M8 | $41.0M9 | $41.0M5 | $41.0M5 | $41.0M5 | ||
| Intangible assets | $88.5M7 | $75.2M8 | $66.3M9 | $52.8M5 | $39.3M5 | ||
| Total assets | $600.8M12 | $534.2M6 | $513.4M7 | $771.7M8 | $694.4M9 | $725.8M5 | $530.2M5 |
| Accounts payable | $11.8M7 | $17.6M8 | $20.9M9 | $16.2M5 | $44.4M5 | ||
| Short-term debt | $180.3M5 | ||||||
| Current liabilities | $60.9M12 | $45.5M6 | $72.8M7 | $190.9M8 | $70.3M9 | $233.4M5 | $84.0M5 |
| Long-term debt | $422.0M13 | $391.8M12 | $341.4M6 | $178.1M8 | |||
| Total liabilities | $480.3M12 | $435.3M6 | $416.1M7 | $570.9M8 | $317.0M9 | $304.7M5 | $141.1M5 |
| Retained earnings | $13.7M7 | $87.7M8 | $261.1M9 | $332.4M5 | $295.3M5 | ||
| Shareholders’ equity | $120.5M7 | $98.9M8 | $97.3M8 | $200.8M8 | $377.3M9 | $421.1M5 | $389.3M5 |
| Shares outstanding | 100.8M shares12 | 101.2M shares6 | 102.0M shares7 | 100.3M shares8 | 101.7M shares9 | 99.0M shares5 | 99.8M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash from operations | $60.5M6 | $46.8M7 | $104.6M8 | $305.6M9 | $156.8M5 | $151.7M5 | $74.1M5 |
| Depreciation and amortization | $70.5M8 | $67.7M9 | $84.0M5 | $72.8M5 | $73.4M5 | ||
| Stock-based compensation | $5.1M8 | $19.2M9 | $11.2M5 | $7.3M5 | $7.6M5 | ||
| Cash from investing | -$35.9M8 | -$140.2M9 | -$68.2M5 | -$28.8M5 | -$67.8M5 | ||
| Share buybacks | $18.2M6 | $5.3M7 | $33.5M5 | ||||
| Cash from financing | -$52.3M8 | -$7.1M9 | -$166.4M5 | -$36.1M5 | -$188.6M5 |
Corporate structure
Target Hospitality Corp. sits at the top of its group. 15 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Target Hospitality Corp.
- TDR Capital II Investments LP Filed SCHEDULE 13D/A on Target Hospitality Corp., latest Oct 5, 2026 (7 filings since Mar 25, 2024)
- Private Capital Management, LLC Filed SCHEDULE 13G/A on Target Hospitality Corp., latest Jul 6, 2026 (6 filings since Feb 4, 2022)
- Conversant Capital LLC Filed SC 13G on Target Hospitality Corp., latest Mar 26, 2024
- Target Hospitality Corp. The Woodlands, Texas
- Arrow Bidco, LLC Subsidiary · Delaware, United States
- Chard Camp Catering Services Ltd. Subsidiary · Canada
- CMD- Camp Catering GP Inc. Subsidiary · Canada
- CMD-Camp Catering Limited Partner Inc. Subsidiary · Canada
- CMD-Camp Catering Limited Partnership Subsidiary · Canada
- RL Signor Holdings LLC Subsidiary · Delaware, United States
- Target Capital Projects, LLC Subsidiary · Delaware, United States
- Target Hospitality Canada Inc. Subsidiary · Canada
- Target Logistics Management LLC Subsidiary · Massachusetts, United States
- Target Management Canada, Ltd. Subsidiary · Canada
- TL Proveeduria Y Servicios de rl de cv Subsidiary · Mexico
- TLM Equipment, LLC Subsidiary · Delaware, United States
- Topaz Holdings LLC Subsidiary · Delaware, United States
- US Iron Bidco, LLC Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Target Hospitality Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $519.2M5 Dec 31, 2025 | $461.5M5 Dec 31, 2024 | +12.5% |
| Property and equipment, net | $320.9M9 Dec 31, 2024 | $349.1M9 Dec 31, 2023 | −8.1% |
| Finance-lease assets | $3.8M5 Dec 31, 2025 | $3.3M5 Dec 31, 2024 | +14.7% |
| Operating-lease assets (leased space) | $6.5M5 Dec 31, 2025 | $24.9M5 Dec 31, 2024 | −73.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $8.3M5 Dec 31, 2025 | $190.7M5 Dec 31, 2024 | −95.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $41.0M5 Dec 31, 2025 | $41.0M5 Dec 31, 2024 | 0% |
| Intangible assets, net (excluding goodwill) | $39.3M5 Dec 31, 2025 | $52.8M5 Dec 31, 2024 | −25.5% |
| Finite-lived intangibles, gross | $133.5M5 Dec 31, 2025 | $133.5M5 Dec 31, 2024 | 0% |
| Accumulated amortization | $110.5M5 Dec 31, 2025 | $97.0M5 Dec 31, 2024 | +13.9% |
| Finite-lived intangibles, net | $22.9M5 Dec 31, 2025 | $36.4M5 Dec 31, 2024 | −37.0% |
Inventory
Properties, in its own words
Our corporate headquarters are located in The Woodlands, Texas. Our executive, financial, accounting, legal, administrative, management information systems and human resources functions operate from this single, leased office. Except as indicated, we own all of the real property at the locations listed below. Subject to certain exceptions, substantially all of our owned personal property and material real property in the U.S. are encumbered under our ABL Facility. We do not believe that the encumbrances will materially detract from the value of our properties, nor will they materially interfere with their use in the operation of our business. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 and Note 8 – Debt to the notes to the consolidated financial statements included in Item 8 of this Annual Report on Form 10-K for additional information concerning our ABL Facility (as defined below). For a discussion about how each of our business segments utilizes its respective properties, see Item 1, “Business” of this Annual Report on Form 10-K.
Location · Description
The rest of Item 2
HFS – South
Pecos, Texas · Pecos South Lodge(1)
Orla, Texas · Orla North Lodge
Orla, Texas · Orla South Lodge
Orla, Texas (leased land) · El Capitan Lodge
Odessa, Texas (owned and leased land) · Odessa West Lodge
Odessa, Texas · Odessa East Lodge
Mentone, Texas (leased land) · Mentone Wolf Lodge
Mentone, Texas (leased land) · Skillman Station Lodge(1)
Midland, Texas · Midland Lodge
Midland, Texas · Midland East Lodge
Kermit, Texas (leased land) · Kermit Lodge
Kermit, Texas · Kermit North Lodge
Carlsbad, New Mexico (leased land) · Carlsbad Lodge
Carlsbad, New Mexico (leased land) · Seven Rivers Lodge
Jal, New Mexico (owned and leased land) · Jal Lodge
Big Spring, Texas · Big Spring Lodge
Winnemucca, Nevada · New Frontier RV Lodge
Afton, Texas (leased land) · Patton Springs Lodge
Dilley, Texas (leased land) · Dilley (Dilley Immigration Processing Center (2))
Pecos, Texas (owned and leased land) · PCC (3)
Pecos, Texas (leased land) · Pecos Blue Lodge (3)
Orla, Texas · Delaware Lodge (3)
Mentone, Texas (leased land) · Skillman Station Lodge(1) (3)
Pecos, Texas · Lodge 118 (3)
Pecos, Texas · Pecos Trail Lodge (3)
Pecos, Texas · Pecos South Lodge(1) (3)
Other
Canada (leased land) · Cheecham Lodge
Williston, North Dakota · Williams County Lodge
Williston, North Dakota · Judson Executive Lodge
Watford City, North Dakota (leased land) · Watford City Lodge
(1) · Location was shared between the HFS – South and Government segments until the PCC Contract terminated.
(2) · STFRC Contract terminated on August 9, 2024. These community assets in Dilley, Texas previously leased under the STFRC Contract were reactivated as of March 5, 2025 under the DIPC Contract.
(3) · The PCC Contract (as previously defined) associated with these locations terminated on February 21, 2025.
Item 2 of the 10-K filed Mar 11, 2026.4
Leadership
Who has led Target Hospitality Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerJames B. Archer Mar 19, 2019 to now14
- Chief executive officerJeffrey Sagansky Jan 11, 2018 to Mar 14, 201915
- PresidentJames B. Archer Mar 19, 2019 to now14
- PresidentEli Baker Jan 11, 2018 to Mar 14, 201916
- Chief financial officerJason Paul Vlacich Feb 27, 2024 to now17
- Chief financial officerAndrew A. Aberdale Mar 19, 2019 to Sep 5, 201918
- Chief financial officerEric Kalamaras Sep 3, 2019 to Oct 12, 202319
- Chief financial officerEli Baker Jan 11, 2018 to Mar 14, 201916
Board members and other officers (26)
- Chief Accounting OfficerCyril Jordanov Hahamski Feb 9, 2026 to now20
- SVP, Finance & IRMark Schuck Apr 9, 2025 to now21
- EVP, Strategy & Corp. Dev.Brendan Dowhaniuk Dec 4, 2024 to now22
- EVP - OperationsJohn Travis Kelley May 6, 2021 to May 22, 202323
- Exe. VP, Gen. Counsel & Secr.Heidi Diane Lewis Mar 19, 2019 to May 23, 201924
- Chief Accounting OfficerJason Paul Vlacich Mar 19, 2019 to Sep 14, 202325
- Chief Commercial OfficerTroy C. Schenk Mar 19, 2019 to now26
- Board memberPaul Hohnsbeen May 7, 2026 to now27
- Board memberErich Sanchack Aug 6, 2026 to now28
- Board memberMargaret Mary Smyth Aug 6, 2026 to now29
- Board memberJohn C. Dorman Feb 22, 2024 to now30
- Board memberAlejandro Hernandez Jun 21, 2023 to now31
- Board memberLinda R. Medler Jan 5, 2022 to now32
- Board memberBarbara J. Faulkenberry Aug 5, 2021 to Jun 21, 202333
- Board memberPamela H. Patenaude Sep 22, 2021 to now34
- Board memberJoy Anne Berry May 22, 2020 to May 22, 202335
- Board memberAlan G. Mnuchin Jan 18, 2019 to Jan 22, 201936
- Board memberAndrew P. Studdert Mar 19, 2019 to Jan 4, 202237
- Board memberJames B. Archer Mar 19, 2019 to now14
- Board memberMartin L. Jimmerson Mar 19, 2019 to now38
- Board memberEli Baker May 23, 2019 to Jan 4, 202239
- Board memberFredric D. Rosen Jan 11, 2018 to Mar 1, 201940
- Board memberJames A. Graf Jan 11, 2018 to Mar 1, 201941
- Board memberJeffrey Sagansky Jan 11, 2018 to Nov 15, 202315
- Board memberJoshoa A. Kazam Jan 11, 2018 to Mar 5, 201942
- General counselHeidi Diane Lewis Mar 6, 2020 to now43
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Arrow Bidco, LLC Delaware3
- CMD- Camp Catering GP Inc. Canada (Alberta)3
- CMD-Camp Catering Limited Partner Inc. Canada (Alberta)3
- CMD-Camp Catering Limited Partnership Canada (Alberta)3
- Chard Camp Catering Services Ltd. Canada (Alberta)3
- RL Signor Holdings LLC Delaware3
- TL Proveeduria Y Servicios de rl de cv Mexico (The Federal District)3
- TLM Equipment, LLC Delaware3
- Target Capital Projects, LLC Delaware3
- Target Hospitality Canada Inc. Canada (Ontario)3
- Target Logistics Management LLC Massachusetts3
- Target Management Canada, Ltd. Canada (British Columbia)3
- Topaz Holdings LLC Delaware3
- US Iron Bidco, LLC Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Platinum Eagle Acquisition Corp.Jul 20, 2017 to Mar 15, 20192
Timeline
- Sep 9, 20268-K Other events44
- Sep 1, 20268-K Regulation FD disclosure45
- Aug 26, 20268-K Regulation FD disclosure; Other events46
- Aug 10, 20268-K Results of operations47
- Aug 5, 20268-K Executive or director change48
- Jul 27, 20268-K Entered a material agreement; New debt or obligation; Other events49
- May 28, 20268-K Other events50
- May 21, 20268-K Shareholder vote; Other events51
- May 11, 20268-K Results of operations52
- May 7, 20268-K Executive or director change53
- Apr 22, 20268-K Other events54
- Apr 21, 20268-K Results of operations55
- Mar 19, 2019New chief executive James B. Archer becomes CEO14
- Jan 11, 2018New chief executive Jeffrey Sagansky becomes CEO15
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.01) a share, on Nov 6, 2025.56
When it reported results
- Aug 10, 2026Reported quarterly or annual results47
- May 11, 2026Reported quarterly or annual results52
- Apr 21, 2026Reported quarterly or annual results55
- Mar 11, 2026Reported quarterly or annual results57
- Nov 6, 2025Reported quarterly or annual results58
- Aug 7, 2025Reported quarterly or annual results59
- May 19, 2025Reported quarterly or annual results60
- Mar 26, 2025Reported quarterly or annual results61
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
399 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 88 major events, 211 insider forms, 14 large holders, 66 other. The latest 20:
- Oct 5, 20264 OWNERSHIP DOCUMENT EDGAR
- Oct 5, 2026SCHEDULE 13D/A EDGAR
- Oct 1, 2026144 EDGAR
- Oct 1, 2026144 EDGAR
- Sep 29, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 29, 20264/A OWNERSHIP DOCUMENT EDGAR
- Sep 29, 20264/A OWNERSHIP DOCUMENT EDGAR
- Sep 28, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 28, 2026SCHEDULE 13D/A EDGAR
- Sep 18, 20264 EDGAR
- Sep 16, 20264 EDGAR
- Sep 14, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 14, 2026SCHEDULE 13D/A EDGAR
- Sep 9, 20268-K EDGAR
- Sep 9, 2026424B7 EDGAR
- Sep 8, 2026424B7 EDGAR
- Sep 1, 20268-K EDGAR
- Aug 26, 20268-K EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 10, 20268-K EDGAR
The 399 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
46 open-market trades by officers, directors and large owners since October 2021: 8 buys and 38 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 18, 2026 | Schrenk Troy C.Chief Commercial Officer | Buy | 5,907 | $21.16 | $125.0K | Form 4 |
| Sep 15, 2026 | Archer James BradleyDirector and CEO and President | Buy | 13,385 | $18.69 | $250.2K | Form 4 |
| Jan 20, 2026 | Lewis Heidi DianeEVP, General Counsel & Sec | Sale | 9,000 | $7.34 | $66.1K | Form 4 |
| Dec 15, 2025 | Lewis Heidi DianeEVP, General Counsel & Sec | Sale | 13,456 | $8.50 | $114.4K | Form 4 |
| Dec 3, 2025 | Robertson StephenDirector | Buy | 125,000 | $7.94 | $992.5K | Form 4 |
| Nov 17, 2025 | Lewis Heidi DianeEVP, General Counsel & Sec | Sale | 9,000 | $6.70 | $60.3K | Form 4 |
| Nov 17, 2025 | Robertson StephenDirector | Buy | 145,000 | $6.85 | $993.2K | Form 4 |
| Oct 20, 2025 | Lewis Heidi DianeEVP, General Counsel & Sec | Sale | 9,000 | $7.09 | $63.8K | Form 4 |
| Sep 22, 2025 | Lewis Heidi DianeEVP, General Counsel & Sec | Sale | 12,256 | $8.71 | $106.8K | Form 4 |
| Sep 18, 2025 | Schrenk Troy C.Chief Commercial Officer | Sale | 49,344 | $8.58 | $423.4K | Form 4 |
| Oct 10, 2023 | Kalamaras EricChief Financial Officer | Sale | 2,456 | $16.53 | $40.6K | Form 4 |
| Oct 3, 2023 | Schrenk Troy C.Chief Commercial Officer | Sale | 4,901 | $16.50 | $80.9K | Form 4 |
| Oct 3, 2023 | Kalamaras EricChief Financial Officer | Sale | 442 | $16.50 | $7.3K | Form 4 |
| Sep 12, 2023 | Vlacich Jason PaulCFO | Sale | 895 | $16.05 | $14.4K | Form 4 |
| Sep 1, 2023 | Vlacich Jason PaulCFO | Sale | 4,851 | $16.06 | $77.9K | Form 4 |
| Aug 31, 2023 | Vlacich Jason PaulCFO | Sale | 7,371 | $16.01 | $118.0K | Form 4 |
| Aug 30, 2023 | Vlacich Jason PaulCFO | Sale | 7,749 | $16.00 | $124.0K | Form 4 |
| Aug 29, 2023 | Schrenk Troy C.Chief Commercial Officer | Sale | 200 | $15.51 | $3.1K | Form 4 |
| Aug 28, 2023 | Schrenk Troy C.Chief Commercial Officer | Sale | 28,674 | $15.60 | $447.3K | Form 4 |
| Aug 25, 2023 | Schrenk Troy C.Chief Commercial Officer | Sale | 7,169 | $15.51 | $111.2K | Form 4 |
All 46 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- TDR Capital II Investments LPSCHEDULE 13D/A, 7 filings Mar 25, 2024 to Oct 5, 202662
- Private Capital Management, LLCSCHEDULE 13G/A, 6 filings Feb 4, 2022 to Jul 6, 202663
- Conversant Capital LLCSC 13G, 1 filing Mar 26, 202464
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | James BArcher President and Chief Executive Officer | $850.0K | $7.2M65 | |
| 2025 | JasonVlacich Chief Financial Officer | $445.4K | $2.6M65 | |
| 2025 | Troy C.Schrenk Senior Executive Vice President, Operations, Chief Commercial Officer | $400.0K | $1.9M65 | |
| 2025 | Heidi D.Lewis Executive Vice President, General Counsel and Secretary | $392.7K | $1.6M65 | |
| 2025 | BrendanDowhaniuk Executive Vice President, Strategy & Corporate Development | $325.0K | $1.4M65 | |
| 2024 | James BArcher President and Chief Executive Officer | $844.2K | $4.1M65 | |
| 2024 | JasonVlacich Chief Financial Officer | $402.9K | $1.5M65 | |
| 2024 | Troy C.Schrenk Senior Executive Vice President, Operations, Chief Commercial Officer | $397.8K | $1.4M65 | |
| 2024 | Heidi D.Lewis Executive Vice President, General Counsel and Secretary | $373.3K | $1.1M65 | |
| 2024 | BrendanDowhaniuk Executive Vice President, Strategy & Corporate Development | $31.2K | $188.1K65 | |
| 2023 | James BArcher President and Chief Executive Officer | $794.2K | $3.5M65 | |
| 2023 | Troy C.Schrenk Senior Executive Vice President, Operations, Chief Commercial Officer | $370.1K | $1.2M65 | |
| 2023 | Heidi D.Lewis Executive Vice President, General Counsel and Secretary | $361.2K | $842.3K65 | |
| 2023 | JasonVlacich Chief Financial Officer | $317.2K | $768.7K65 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Target Hospitality Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARTarget Hospitality Corp.1
- CIK0001712189
- Employer ID (EIN)98-13786314
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)7000 Hotels, Rooming Houses, Camps & Other Lodging Places1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address9320 Lakeside Blvd., Suite 300, The Woodlands, TX 773811
- Phone832 709-25631
- Shares outstanding99,623,423 as of Aug 6, 202611
- Public float$227.8M as of Jun 30, 20254
- AuditorErnst & Young LLP, Houston, Texas PCAOB ID 42; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceJul 20, 20171
- Filings743 in all: 4 (385), 8-K (139), 3 (32), 144 (31), 10-Q (26), 425 (9), 10-K (8), CORRESP (8)1
All 45 form types
DEF 14A (8), DEFA14A (7), SC 13G (7), 424B7 (6), SCHEDULE 13D/A (6), UPLOAD (6), EFFECT (5), S-4/A (5), SC 13G/A (5), 8-K/A (4), ARS (4), S-8 (4), SC 13D/A (4), 4/A (3), 25-NSE (2), 424B3 (2), NT 10-Q (2), S-1/A (2), S-3 (2), S-4 (2), SC TO-I/A (2), SCHEDULE 13G/A (2), 10-K/A (1), 424B4 (1), 8-A12B (1), 8-K12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), NT 10-K (1), PRE 14A (1), S-1 (1), S-3/A (1), SC 13D (1), SC TO-I (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 11, 2026
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Apr 7, 2026
Latest 8-K (8-K) Sep 9, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.0001 per share | TH | Nasdaq |
From the cover page of the 10-K filed Mar 11, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Target Hospitality Corp. names in Item 1A of its 10-K filed Mar 11, 2026: 44 risks under these headings, as written.4
- Operational Risks
- Financial Accounting Risks
- Social, Political and Regulatory Risks
- Growth, and Development Risks
- Information Technology and Privacy Risks
- Risks Related to Our Indebtedness
- Risks Related to Ownership of Our Common Stock
- Our operations are and will be exposed to operational economic, political and regulatory risks.
- These and other risks could have a material adverse effect on our business, results of operations and financial condition.
- We face significant competition as a provider of specialty rental and hospitality services in the specialty rental sector. If we are unable to compete successfully, we could lose customers and our revenue and profitability could decline.
- The loss of any one of our largest customers in any of our business segments could adversely affect our results of operations.
- As several of these customers are new and operate in emerging or rapidly evolving industries, we may face increased risks related to contract execution, project delays, or changes in customer capital spending.
The other 39 risks
- Our business depends on the quality and reputation of the Company and its communities. Any deterioration in the quality and reputation of the Company or public resistance, potential legal challenges to, and increasing scrutiny of our industry, could affect our ability to obtain new contracts or result in the loss of existing contracts and negatively impact our brand or reputation, each of which could have a material adverse effect on our business, financial condition and results of operations.
- We are subject to extensive procurement laws, regulations and procedures, including those that enable the U.S. government to terminate contracts for convenience. Our business and reputation could be adversely affected if we or those we do business with fail to comply with or adapt to existing or new procurement laws and regulations, which are regularly evolving.
- Our natural resource development customers are exposed to a number of unique operating risks and challenges which could also adversely affect us.
- Our business also depends on activity levels in critical mineral development and data center infrastructure industries, and reductions or delays in these projects could adversely affect our results of operations.
- Our business is contract intensive. Servicing existing contracts may lead to customer disputes or delays in receipt of payments, and failure to retain our current customers, renew existing customer contracts, and obtain new customer contracts, or the termination of existing contracts, could adversely affect our business.
- We are subject to fluctuations in occupancy levels, and a decrease in occupancy levels could cause a decrease in revenues and profitability.
- We may be adversely affected if customers reduce their specialty rental and hospitality services outsourcing.
- Expansion into new markets exposes us to operational, regulatory, and execution risks.
- Our expansion into new markets such as critical mineral development and data center infrastructure exposes us to operational, regulatory, and execution risks for which we have more limited historical experience. These markets may require new technical capabilities, specialized labor, and compliance with complex permitting regimes. If we are unable to execute successfully in these markets, our financial results could be materially adversely affected.
- Our operations could be subject to natural disasters and other business disruptions, which could materially adversely affect our future revenue and financial condition and increase its costs and expenses.
- Construction risks exist which may adversely affect our results of operations.
- Demand for our products and services is sensitive to changes in demand within a number of key industry end-markets and geographic regions.
- Certain of our major communities are located on land subject to leases. If we are unable to renew a lease, we could be materially and adversely affected.
- Third parties may fail to provide necessary services and materials for our communities and other sites.
- It may become difficult for us to find and retain qualified employees, and failure to do so could impede our ability to execute our business plan and growth strategy.
- Significant increases in operating costs, including raw material and labor costs, could increase our operating costs significantly and harm our profitability.
- Our future operating results may fluctuate, fail to match past performance, or fail to meet expectations.
- We are exposed to various possible claims relating to our business, and our insurance may not fully protect us.
- Public health crises such as pandemics and their impact on business and economic conditions and government requirements could adversely affect our business, financial condition or results of operations.
- If we determine that our goodwill and intangible assets have become impaired, we may incur impairment charges, which would negatively impact our reported operating results.
- Social, Political, Regulatory and Litigation Risks
- A failure to maintain food safety or comply with government regulations related to food and beverages may subject us to liability.
- We may be unable to recognize deferred tax assets and, as a result, lose future tax savings, which could have a negative impact on our liquidity and financial position.
- Unanticipated changes in our tax obligations, the adoption of a new tax legislation, or exposure to additional income tax liabilities could affect profitability.
- We are subject to various laws and regulations, including those governing our contractual relationships with the U.S. government and a U.S. government contractor and the health and safety of our workforce and our customers. Obligations and liabilities under these laws and regulations may materially harm our business.
- We are subject to various anti-corruption laws and we may be subject to other liabilities which could have a material adverse effect on our business, results of operations and financial condition.
- We may be exposed to certain regulatory and financial risks related to climate change and other environmental laws and regulations.
- We may be subject to litigation, judgments, orders or regulatory proceedings that could materially harm our business.
- We are subject to evolving public disclosure, financial reporting and corporate governance expectations and regulations that impact compliance costs and risks of noncompliance.
- We may not be able to successfully acquire and integrate new operations, which could cause our business to suffer.
- Global, national or local economic movements could have a material adverse effect on our business.
- Any failure of our management information systems could disrupt our business and result in decreased revenue and increased overhead costs.
- Our business could be negatively impacted by security threats, including cybersecurity threats and other disruptions.
- Global capital and credit markets conditions could materially adversely affect our ability to access the capital and credit markets or the ability of key counterparties to perform their obligations to it.
- We are, and may in the future become, subject to covenants that limit our operating and financial flexibility and, if we default under our debt covenants, we may not be able to meet our payment obligations.
- Restrictions in Arrow Bidco’s existing and future debt agreements could limit our growth and our ability to respond to changing conditions.
- Credit rating downgrades could adversely affect our businesses, cash flows, financial condition and operating results.
- Our stock price has been and may continue to be subject to volatility, and this and other factors may affect elements of our capital allocation strategy such as share repurchases, acquisitions and debt reduction.
- We have incurred and expect to continue to incur significantly increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance efforts.
- Our principal stockholder has substantial control over our business, which may be disadvantageous to other stockholders.
Legal proceedings
We are involved in various lawsuits, claims and legal proceedings, most of which arise out of the ordinary course of business. The nature of the Company’s business is such that disputes occasionally arise with vendors including suppliers and subcontractors, and customers over contract specifications and contract interpretations among other things. The company assesses these matters on a case-by-case basis as they arise. Reserves are established, as required, based on assessment of exposure. We have insurance policies to cover general liability and workers’ compensation related claims. In the opinion of management, the ultimate amount of liability not covered by insurance, if any, under such pending lawsuits, claims and legal proceedings will not have a material adverse effect on its financial condition results of operations, or liquidity. Because litigation is subject to inherent uncertainties including unfavorable rulings or developments, it is possible that the ultimate resolution of our legal proceedings could involve amounts that are different from our currently recorded accruals, and that such differences could be material.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGAREli Baker, President
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- 21SEC EDGARMark Schuck, SVP, Finance & IR
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- 23SEC EDGARJohn Travis Kelley, EVP - Operations
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- 27SEC EDGARPaul Hohnsbeen, Board member
- 28SEC EDGARErich Sanchack, Board member
- 29SEC EDGARMargaret Mary Smyth, Board member
- 30SEC EDGARJohn C. Dorman, Board member
- 31SEC EDGARAlejandro Hernandez, Board member
- 32SEC EDGARLinda R. Medler, Board member
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- 34SEC EDGARPamela H. Patenaude, Board member
- 35SEC EDGARJoy Anne Berry, Board member
- 36SEC EDGARAlan G. Mnuchin, Board member
- 37SEC EDGARAndrew P. Studdert, Board member
- 38SEC EDGARMartin L. Jimmerson, Board member
- 39SEC EDGAREli Baker, Board member
- 40SEC EDGARFredric D. Rosen, Board member
- 41SEC EDGARJames A. Graf, Board member
- 42SEC EDGARJoshoa A. Kazam, Board member
- 43SEC EDGARHeidi Diane Lewis, General counsel
- 44SEC EDGAROther events
- 45SEC EDGARRegulation FD disclosure
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- 47SEC EDGARResults of operations
- 48SEC EDGARExecutive or director change
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- 50SEC EDGAROther events
- 51SEC EDGARShareholder vote; Other events
- 52SEC EDGARResults of operations
- 53SEC EDGARExecutive or director change
- 54SEC EDGAROther events
- 55SEC EDGARResults of operations
- 56NasdaqNasdaq calendar
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