Target Hospitality Q3 Revenue Jumps 30% on $1.7B Contract Wins
The Woodlands – November 10, 2026 -- Target Hospitality Corp. (NASDAQ: TH) reported third-quarter revenue of $129.1 million, up 30% from $99.4 million a year earlier and 51% from the prior quarter, as its Workforce Hospitality Solutions (WHS) segment scaled to more than 6,200 utilized beds.
Adjusted EBITDA rose 59% to $34.2 million from $21.5 million, and margin widened roughly 480 basis points to 27%. The company still posted a net loss of $9.2 million, or $0.09 per share.
Contract awards top $1.7 billion since January
Since January 2026, Target has won multi-year awards worth more than $1.7 billion covering over 10,000 beds. Customers span large-scale industrial projects, including AI data centers and power generation. The contracts carry minimum take-or-pay commitments and, in many cases, significant advance payments.
Several recent WHS awards have been expanded, lifting total contract value by more than 10% over initial terms.