Target Hospitality (TH) Earnings Call Presentation

Company Overview - Target Hospitality is North America's largest provider of comprehensive hospitality solutions[4,6] - The company has over 16,000 network beds across 28 communities[6,9] and +8,000 available beds to expand with limited investment[9,33] - Target Hospitality has an average customer relationship length of +6.5 years[9] Financial Performance and Outlook - The company anticipates total revenue between $265 million and $285 million in 2025[6] - Adjusted EBITDA is projected to be between $47 million and $57 million in 2025[6] - Since 2021, the company has generated +$160 million of average annual Discretionary Cash Flow (DCF)[9] - As of December 31, 2024, Target Hospitality reported $191 million in cash and cash equivalents[42] Growth and Strategy - The company is pursuing a multi-year workforce hub contract supporting critical mineral development, expected to generate approximately $140 million in revenue through 2027[23,25] - Target Hospitality is strategically diversifying and regionally expanding its reach[22] - The company redeemed all outstanding 10.75% Senior Secured Notes on March 25, 2025, resulting in over $19 million of annual interest expense savings[46]