Custom Truck One Source Inc Stock Price, News & Analysis

Custom Truck One Source (NYSE: CTOS) has successfully acquired the HiRail Leasing Group for $46.0 million, enhancing its service offerings in Canada. HiRail, a key player in rail equipment rental with over 600 units, extends Custom Truck's reach into Ontario and Alberta. This acquisition aligns with Custom Truck's strategy to bolster its core rental business and deliver comprehensive equipment solutions to its customers. The deal was financed through available cash and existing credit facilities, indicating a solid financial backing for growth.

Custom Truck One Source (NYSE: CTOS) will present at the CJS Securities 22nd Annual New Ideas for the New Year Conference on January 12, 2022, starting at 8:00 a.m. Eastern Time. The presentation will feature CEO Fred Ross, President Ryan McMonagle, and CFO Brad Meader. Interested investors can watch a live webcast on the company's Investor Relations website, where a replay will be available for 30 days post-conference. Custom Truck provides specialized truck and heavy equipment solutions throughout North America.

Custom Truck One Source (CTOS) has priced a secondary offering of 12,322,975 shares of common stock at $8.50 per share, set to close on November 22, 2021. This offering is conducted by selling stockholders affiliated with The Blackstone Group, and CTOS will not receive any proceeds. The underwriters have a 30-day option to purchase an additional 1,848,446 shares. Citigroup is the lead book-running manager. The offering is made under an effective shelf registration statement, with no shares being offered by the Company itself.

Custom Truck One Source (NYSE: CTOS) announced a secondary offering of 12,322,975 shares of common stock by selling stockholders affiliated with Blackstone. An additional 1,848,446 shares may be purchased by underwriters within a 30-day option. The company will not receive any proceeds from this sale, which is managed by Citigroup and other institutions. This offering follows regulatory guidelines and will be made by means of a prospectus. The offering does not entail any new shares from the company itself.

Custom Truck One Source (CTOS) reported third-quarter 2021 revenue of $357.3 million, down 4.7% from the previous quarter but reflecting strong year-over-year growth. The company recorded a net loss of $20.5 million, significantly improved from a loss of $129.4 million in Q2 2021. Adjusted EBITDA rose to $84.4 million. The equipment sales order backlog increased 52% to $338.5 million. Rental revenue improved 10.6% sequentially. The company reaffirmed its full-year guidance, citing solid fundamentals in end markets despite supply chain challenges.

Custom Truck One Source (NYSE: CTOS) will present at the Baird 51^st Global Industrial Conference on November 10, 2021, at 4:55 p.m. ET. CEO Fred Ross, President Ryan McMonagle, and CFO Brad Meader will represent the company. Custom Truck One Source specializes in providing heavy equipment solutions across North America, serving utility, telecommunications, rail, and infrastructure sectors through rentals, sales, and services. For more details, visit customtruck.com.

Custom Truck One Source (NYSE: CTOS) is set to release its third quarter 2021 financial results on November 9, 2021, after market close. A conference call will follow at 5:00 pm ET to discuss the results, available at investors.customtruck.com. Interested parties can join the discussion by phone or access a replay until November 16, 2021. Custom Truck One Source provides specialized truck and heavy equipment solutions across North America, focusing on various markets including utility and telecommunications.

Custom Truck One Source (NYSE: CTOS) announced that its President Ryan McMonagle and CFO Brad Meader will present at the Deutsche Bank 29th Annual Leveraged Finance Conference on October 5, 2021, at 10:00 a.m. Eastern Time. A live webcast will be available on the company’s Investor Relations website, with a replay accessible for 30 days post-conference. Custom Truck One Source specializes in providing truck and heavy equipment solutions across various markets in North America.