Custom Truck One Source, Inc. ( (CTOS) ) has released its Q3 earnings. Here is a breakdown of the information Custom Truck One Source, Inc. presented to its investors.
Custom Truck One Source, Inc. is a leading provider of specialty equipment for various infrastructure-related markets, offering a one-stop-shop model for customers in North America.
In its third-quarter 2024 earnings report, Custom Truck One Source, Inc. reported a total revenue of $447.2 million, marking a 5.7% increase from the previous quarter, along with strategic expansions in its credit facilities and significant improvements in its core markets.
The company saw a sequential increase in gross profit to $91.8 million and an adjusted gross profit of $137.8 million. However, it reported a net loss of $17.4 million, though this was an improvement from the previous quarter’s loss. The adjusted EBITDA slightly increased to $80.2 million. The company also increased its ABL revolving credit facility limit by $200 million and extended its maturity to 2029. Despite challenges in the ERS segment, improvements in the TES segment contributed to its performance.
Looking forward, Custom Truck One Source, Inc. has updated its full-year guidance, anticipating continued growth in the company’s key markets. The management remains optimistic about fiscal 2025, expecting to capitalize on industry tailwinds and return to double-digit adjusted EBITDA growth.
