Custom Truck One Source, Inc. ( (CTOS) ) has released its Q1 earnings. Here is a breakdown of the information Custom Truck One Source, Inc. presented to its investors.
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Custom Truck One Source, Inc. is a prominent provider of specialty equipment and services to various infrastructure-related markets, including electric utility, telecom, and rail, known for its comprehensive ‘one-stop-shop’ business model.
In its first-quarter 2025 earnings report, Custom Truck One Source, Inc. announced a revenue increase of 2.7% year-over-year, reaching $422.2 million, while reaffirming its 2025 guidance amidst ongoing economic challenges.
The company reported a net loss of $17.8 million, an increase from the previous year, primarily due to decreased gross profit and higher interest expenses. Despite this, the Equipment Rental Solutions segment saw a 9.4% increase in rental revenue, driven by improved fleet utilization and increased rental volume. The Truck and Equipment Sales segment experienced a decline in revenue due to pricing pressures, though the order backlog increased significantly.
Looking ahead, Custom Truck One Source, Inc. remains cautiously optimistic about fiscal 2025, expecting growth driven by strong demand in its core markets and strategic inventory management. The company anticipates generating meaningful free cash flow and reducing its net leverage ratio by the end of the year.