Custom Truck One Source Inc Stock Price, News & Analysis

Custom Truck One Source, trading under the ticker CTOS, has officially opened a new location in Ayr, Ontario. This expansion marks the company's total to 36 locations across North America, reinforcing its presence in the equipment market. The new 9,500 square feet facility will cater to diverse customer needs, offering services from new and used truck sales to aftermarket parts and financing solutions. CEO Ryan McMonagle expressed enthusiasm about the company's growth and its commitment to supporting Canadian clientele in achieving their business goals.

This strategic move is expected to enhance operational capacity and customer service, further solidifying Custom Truck's position as a market leader.

Custom Truck One Source, Inc. (CTOS) reported robust financial results for Q4 and FY 2022. Q4 revenue surged 36.6% to $486.7 million, while annual revenue reached $1.573 billion, up 34.8% from 2021. Gross profit improved by 64.7% in Q4, totaling $128.3 million, with net income rebounding to $30.9 million from a loss in Q4 2021. Adjusted EBITDA for FY 2022 was $393 million, marking a 21.6% increase. The company appointed Ryan McMonagle as CEO, with strong operational momentum and demand expected to continue in 2023. Guidance for this year anticipates revenues between $1.61 billion and $1.73 billion, driven by growth across all segments.

Custom Truck One Source (NYSE: CTOS) announced that its President and COO, Ryan McMonagle, along with CFO, Chris Eperjesy, will present at the J.P. Morgan 2023 Industrials Conference in New York City on March 16, 2023, at 3:00 p.m. ET. The presentation will include a fireside chat and a Q&A session. A live audio-only webcast will be accessible via the Company’s Investor Relations website, with a replay available for 30 days. Custom Truck One Source specializes in providing truck and heavy equipment solutions across various markets in North America, including rentals and manufacturing.

Custom Truck One Source (NYSE: CTOS) will release its fourth quarter and full year 2022 financial results after the market close on March 14, 2023. The management team will host a conference call to discuss the results at 5:00 p.m. ET on the same day. Investors can access the webcast and presentation via their investor page. A replay of the call will be available until March 21, 2023.

Custom Truck One Source (NYSE: CTOS) announced that President Ryan McMonagle and CFO Chris Eperjesy will present at the CJS Securities 23rd Annual New Ideas for the New Year Investor Conference on January 11, 2023. The event will be held virtually, starting at 10:15 a.m. ET, featuring a fireside chat and Q&A session. Investors can listen to a live audio webcast on the Company's Investor Relations website, with a replay available for 30 days after the conference. Custom Truck One Source provides specialized truck and heavy equipment solutions across North America.

Custom Truck One Source (CTOS) announced the retirement of CEO Fred Ross effective March 20, 2023. Ryan McMonagle, the current President and COO, will succeed him. The Board unanimously approved this transition as part of a succession plan. Ross will remain with the company as Founder and Board member, assisting in leadership transition and special projects. McMonagle, who joined CTOS in 2015, aims to uphold the company's reputation and further its growth in specialized truck and heavy equipment solutions in North America.

Custom Truck One Source (NYSE: CTOS) announced participation in the BofA Securities 2022 Leveraged Finance Conference on Tuesday, November 29, 2022. President Ryan McMonagle and CFO Chris Eperjesy will engage in a fireside chat at 2:10 p.m. ET. A live webcast will be available through the Company’s Investor Relations website, and a replay will be accessible for 30 days post-conference. Custom Truck One Source specializes in truck and heavy equipment solutions across various sectors in North America.

Custom Truck One Source (CTOS) reported its Q3 2022 results, showcasing total revenue of $357.8 million, slightly up from $357.3 million in Q3 2021. Rental revenue grew by 5.4% to $115 million, driven by strong demand across all segments. Gross profit increased 35.1% to $88.2 million, yet the company posted a net loss of $2.4 million, an improvement from a $20.5 million loss last year. Adjusted EBITDA rose to $91.6 million. Despite supply chain challenges, CTOS maintained a strong sales order backlog of $709.2 million.