Target Hospitality Reports Q1 2026 Results and $1.4 Billion in New Contracts

Target Hospitality announced in a press release its financial results for the first quarter of 2026, reporting revenue of 72.8 million dollars and a net loss of 13 million dollars. Adjusted EBITDA reached 9.9 million dollars, with 7 million dollars in cash from operations and 150 million dollars in total available liquidity as of March 31, 2026.

Since January 2026, the company has secured more than 1.4 billion dollars in multi-year contracts within its Workforce Hospitality Solutions segment, adding over 9,000 beds. These agreements include a 48-month, 750 million dollar contract to provide accommodations for about 3,370 workers supporting AI infrastructure projects.

In March 2026, Target signed a 129 million dollar contract for a 1,400-bed project supporting power generation and AI data center development in West Texas, and a 23 million dollar contract for a 400-bed facility near Pecos, Texas. In April, the company announced a 550 million dollar contract with a top five hyperscaler for a 4,000-bed data center campus in North Texas.

Construction on previously announced data center community expansions remains on schedule for completion by June 2026. The company is also in advanced discussions for additional projects tied to AI infrastructure and large-scale power generation opportunities.