Custom Truck One Source Inc Stock Price, News & Analysis

Custom Truck One Source (CTOS) is set to release its first quarter 2023 financial results on May 9, 2023, after market close. Management will hold a conference call to discuss the results at 5:00 p.m. ET on the same day, with a webcast available for public access.

The company is a leading provider of specialty equipment and services in North America, catering to sectors such as electric utility, telecommunications, and rail markets. Custom Truck One Source operates a rental fleet exceeding 10,000 units, which includes various specialized equipment necessary for infrastructure maintenance and installation.

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.