Custom Truck One Source, Inc.

6.04+0.02 (+0.33%)

Oct 29, 4:00:02 PM EDT · NYSE · CTOS · USD

Upcoming Earnings

Report date

EPS

-0.10 (-0.10 ~ -0.10)

Revenue

445.02M (424.90M ~ 455.70M)

Key Stats

Market Cap

1.37B

P/E (TTM)

Basic EPS (TTM)

-0.11

Dividend Yield

Recent Filings

8-K

Q2 revenue up 21%

7/30/25Jul 30, 2025

Custom Truck One Source reported Q2 2025 revenue of $511.5 million, up 20.9% year-over-year, with Adjusted EBITDA rising 16.7% to $93.4 million amid strong demand in utility and telecom markets. Rental fleet utilization hit 77.6%, boosting ERS revenue 17.3%, while TES sales surged 22.4% on vocational vehicle orders. Backlog dipped to $334.8 million, yet the company reaffirms 2025 guidance of $1.97B–$2.06B revenue and $370M–$390M Adjusted EBITDA. Net leverage stands at 4.66x.

10-Q

Q2 FY2025 results

7/30/25Jul 30, 2025

Custom Truck One Source posted solid Q2 revenue growth of 20.9% y/y to $511.5M, fueled by 24.7% y/y equipment sales surge to $356.1M and 17.3% y/y rental revenue jump to $120.8M, while parts and services held steady at $34.6M; gross profit climbed 14.9% y/y to $102.5M with margins dipping to 20.0% from 21.1% amid higher rental depreciation up 21.1% y/y to $54.0M. Operating income more than doubled to $27.9M, yet net loss widened to $28.4M or $(0.13) per diluted share from $24.5M or $(0.10), driven by a $17.5M tax hit from effective rate adjustments; EPS reconciles to 226.5M diluted shares with no anti-dilution. Cash from operations hit $181.4M YTD, funding $225.3M rental fleet buys, while total debt stands at $1.6B including $670.5M ABL at 6.4% with $275.7M availability and no covenant issues; a January stock repurchase of 8.1M shares for $32.6M trimmed shares outstanding. Fleet utilization rose to 77.6%, but sales backlog shrank 30% y/y to $334.8M. Competition in equipment rentals remains a persistent drag.

8-K

Annual meeting elects directors

6/12/25Jun 12, 2025

Custom Truck One Source stockholders elected Fred Ross, Georgia Nelson, Mary Jackson, and Ryan McMonagle as Class C directors at the June 12, 2025 annual meeting, with each nominee securing over 174 million 'for' votes amid 22 million withheld. The board stays steady. Ernst & Young LLP's appointment as auditors for the fiscal year ending December 31, 2025, won ratification with 209 million votes in favor.

8-K

Q1 revenue grows 2.7%

4/30/25Apr 30, 2025

Custom Truck One Source reported Q1 2025 revenue of $422.2 million, up 2.7% year-over-year, fueled by 9.5% rental revenue growth from stronger utility and infrastructure demand. Yet gross profit dipped 5.7% to $85.5 million amid pricing pressures in truck sales, while Adjusted EBITDA fell 5.1% to $73.4 million. Fleet utilization hit 77.7%, boosting average OEC on rent by 13%. The company reaffirms 2025 guidance of $1.97B–$2.06B revenue and $370M–$390M Adjusted EBITDA, despite tariff uncertainties.

10-Q

Q1 FY2025 results

4/30/25Apr 30, 2025

Custom Truck One Source posted Q1 revenue of $422.2M, up 2.7% y/y from $411.3M, driven by stronger rental demand in the ERS segment while equipment sales held steady at $273.9M. Gross profit dipped to $85.5M from $90.7M, yielding a 20.3% margin versus 22.1%, as rental depreciation climbed 14.5% y/y to $50.1M amid fleet expansion. Operating income fell 32.5% y/y to $12.4M, but net loss widened to $17.8M or $(0.08) per diluted share on 228.3M shares, reflecting higher interest expense of $38.9M—up 2.6% y/y—while tax benefits improved to $7.7M. Cash from operations surged to $55.6M, funding $71.3M in rental equipment buys; free cash flow stood negative at $(15.7M) (derived). Liquidity remains solid with $5.4M cash, $289.9M ABL availability, and total debt at $1.6B including $920M in 5.5% notes due 2029. In January 2025, the company repurchased 8.1M shares for $32.6M from affiliates at a 23% discount. Competition in equipment rental and sales persists as a key risk.

About

Custom Truck One Source, Inc. provides specialty equipment rental and sale services to electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. It operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). The ERS segment owns new and used specialty equipment, including truck-mounted aerial lifts, cranes, service trucks, dump trucks, trailers, digger derricks, and other machinery and equipment. Its TES segment offers new equipment for sale to be used for end-markets, which can be modified to meet customers specific needs. The APS segment provides truck and equipment maintenance and repair services; and rents and sells specialized tools, including stringing blocks, insulated hot stick, and rigging equipment, as well as sale of specialized aftermarket parts. The company was formerly known as Nesco Holdings, Inc. and changed its name to Custom Truck One Source, Inc. in April 2021. Custom Truck One Source, Inc. was founded in 1988 and is headquartered in Kansas City, Missouri.

CEO

Mr. Ryan McMonagle

IPO

10/9/2017

Website

https://www.customtruck.com

Employees

2,619

Sector

Industrials

Industry

Rental & Leasing Services