Welcome to our dedicated page for Custom Truck One Source news (Ticker: CTOS), a resource for investors and traders seeking the latest updates and insights on Custom Truck One Source stock.
Custom Truck One Source reports developments tied to specialty equipment rentals, sales, parts, tools, accessories and services for North American electric utility transmission and distribution, telecommunications, rail, forestry, waste management and infrastructure markets. Its updates commonly cover financial results, rental fleet utilization, equipment demand, operating segment presentation and debt or cash-flow priorities.
Company news also includes product and distribution activity involving specialized trucks and heavy equipment, including Load King service truck offerings, dealer relationships, investor conferences and earnings-call schedules. The recurring business themes center on equipment used to maintain, repair, upgrade and install electric lines, telecommunications networks and rail systems.
Custom Truck One Source (CTOS) will announce its third quarter 2022 financial results on November 8, 2022, after market close. The management will discuss these results during a conference call at 5:00 p.m. ET on the same day. Interested parties can access the presentation through the company's investor relations website. Custom Truck One Source specializes in providing truck and heavy equipment solutions to the utility, telecommunications, rail, and infrastructure sectors across North America.
Custom Truck One Source (CTOS) has announced its partnership with Battle Motors to expand its truck offerings, which will include the full cabover line of electric trucks. This collaboration enables Battle Motors to utilize Custom Truck's distribution channels, enhancing their market presence while providing comprehensive customer support. The partnership caters to the refuse and municipal markets, offering CARB-compliant solutions. With decades of design expertise, Battle Motors focuses on innovation in heavy-duty trucks, ensuring reliability across various applications.
Custom Truck One Source (CTOS) reported robust financial results for Q2 2022, achieving total revenue of $362.1 million, driven by a 13.7% increase in rental revenue. Gross profit surged 77.3% to $82.8 million, while net income returned to $13.6 million from a $129.4 million loss in the same quarter last year. Adjusted EBITDA rose 21.6% year-over-year to $85.4 million. The company announced a stock repurchase program of $30 million and is updating its full-year revenue guidance to $1.540-$1.650 billion. Despite ongoing supply chain issues, CTOS maintains strong customer demand across its segments.
Custom Truck One Source (CTOS) announced the appointment of Christopher J. Eperjesy as Chief Financial Officer, effective August 15, 2022, succeeding Todd Barrett, who remains Chief Accounting Officer. Eperjesy brings extensive experience from positions at Clarios International and Cooper Tire & Rubber Company. Additionally, the Company authorized a $30 million stock repurchase program, signaling management's confidence in long-term growth strategies. This repurchase initiative aims to support shareholder value amidst market fluctuations.
Custom Truck One Source (CTOS) will release its second quarter 2022 financial results on August 9, 2022, after market close. Management will hold a conference call at 5:00 p.m. EDT on the same day to discuss the results. Investors can access the webcast and financial presentation at investors.customtruck.com. A replay of the call will be available until August 16, 2022.
Custom Truck One Source provides specialized truck and equipment solutions across North America.
American Veterans Group has launched an initiative to connect veterans with employment opportunities at Custom Truck One Source (CTOS) in Kansas City. Funded through a grant to the U.S. Chamber of Commerce Foundation's Hiring Our Heroes program, this initiative aims to prepare military service members and their spouses for civilian careers. Custom Truck will engage with active-duty personnel to fill technical roles that align with their skills. AVG pledges 25% of its earnings to support veterans' employment efforts, enhancing workforce diversity and economic opportunity.
Custom Truck One Source (NYSE: CTOS) announced that President Ryan McMonagle and Interim CFO Todd Barrett will participate in a fireside chat and private investor meetings at the Stifel 2022 Cross Sector Insight Conference on June 8, 2022, starting at 4:45 p.m. EDT. A live webcast of the event will be available on the Company's Investor Relations website, with a replay accessible for 30 days post-conference. Custom Truck One Source provides specialized truck and heavy equipment solutions across North America, catering to utility and telecommunications markets, among others.
Custom Truck One Source (CTOS) reported financial results for Q1 2022, revealing total revenue of $366.5 million, primarily driven by strong demand for rental equipment. Gross profit improved by 8.5% to $84.5 million. Despite a net loss of $3.3 million, a decrease from $3.7 million in Q4 2021, the company closed the acquisition of HiRail Leasing Group for $51.6 million. Adjusted EBITDA decreased to $91.5 million. The firm maintains its full-year revenue and EBITDA outlook amid ongoing operational optimization.
Custom Truck One Source (NYSE: CTOS) announced participation in the Oppenheimer 17th Annual Industrial Growth Conference on May 4, 2022. CEO Fred Ross, President Ryan McMonagle, CFO Brad Meader, and Chief Accounting Officer Todd Barrett will engage in a fireside chat starting at 12:45 p.m. EDT. A live webcast will be available via the Company’s Investor Relations website, with a replay for 30 days post-conference. Custom Truck One Source provides specialized truck and heavy equipment solutions across North America, serving various markets.
Custom Truck One Source (NYSE: CTOS) announced the appointment of Todd Barrett as interim Chief Financial Officer, effective May 13, 2022, following the resignation of Brad Meader. Meader will assist in the transition until May 27, 2022. The company provided a preliminary revenue range for Q1 2022 of $363 million to $366 million, with a net loss range of $10 million to $8 million, and an Adjusted EBITDA range of $90 million to $93 million. The official financial results will be released on May 10, 2022.