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, Inc. (NYSE: CTOS) generates a steady flow of news tied to its role as a provider of specialty equipment, parts, tools, accessories and services for electric utility transmission and distribution, telecommunications, rail and other infrastructure-related end markets in North America. This news page focuses on developments that affect CTOS as a public company and as an equipment and services provider to critical infrastructure projects.
Visitors can review updates on quarterly financial results, where the company reports revenue from rental, equipment sales and parts and services across its Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES) and Aftermarket Parts and Services (APS) segments. Earnings releases often include segment performance, operating metrics such as fleet utilization, average original equipment cost on rent and sales order backlog, as well as commentary on demand trends in its core utility and infrastructure markets.
News items also cover corporate and capital markets activity, including announcements about participation in leveraged finance, industrial growth and diversified industrials and services conferences, where management presents to and meets with institutional investors. These events provide insight into how the company communicates its strategy, segment outlooks and financial guidance to the investment community.
In addition, Custom Truck One Source issues press releases about operational developments such as the opening of new locations in markets like Portland, Oregon and Orlando, Florida, which are intended to enhance service coverage in key regions. Product-related news highlights new equipment introductions from its manufacturing arm, Load King Manufacturing, including tracked easement machines, service trucks, material handling units and an all-electric bucket truck available through CTOS sales, rentals and in-house financing options.
By following this CTOS news feed, readers can track financial disclosures, geographic expansion, product launches and investor-related events that shape the company’s position in utility, telecom, rail and other infrastructure-related markets.
Custom Truck One Source (NYSE: CTOS) reported Q2 2024 results, showing declines across key metrics:
- Total revenue decreased 7.4% to $423.0 million
- Gross profit fell 19.3% to $89.3 million
- Net loss of $24.5 million compared to $11.6 million profit in Q2 2023
- Adjusted EBITDA down 22.4% to $80.1 million
The company cited slower utility market demand impacting its Equipment Rental Solutions segment. However, it saw continued strength in infrastructure, rail and telecom markets. CTOS updated its 2024 guidance, now expecting:
- Revenue of $1.8-$1.98 billion
- Adjusted EBITDA of $340-$375 million
Management expects temporary headwinds to persist through 2024 but anticipates a return to growth in 2025, driven by long-term tailwinds in its end markets.
Custom Truck One Source (NYSE: CTOS) has announced its plan to release second quarter 2024 financial results after the market close on Thursday, August 1, 2024. The company will host 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. For those who prefer to listen by phone, dial-in numbers are provided along with the conference ID. A replay of the call will be available until August 8, 2024, with specific replay instructions provided.
Custom Truck One Source (NYSE: CTOS) has announced that its CFO, Chris Eperjesy, will participate in the Deutsche Bank 15th Annual Global Industrials, Materials & Building Products Conference. The event will take place in New York City on June 6, 2024. Eperjesy will take part in a fireside chat and meet with institutional investors. The fireside chat is scheduled for 11:10 a.m. EDT and will be available via a live audio-only webcast on the company's Investor Relations website. A replay will be accessible for 30 days post-conference.
Custom Truck One Source, Inc. (NYSE: CTOS) reported a decrease in total revenue, gross profit, and adjusted EBITDA for the first quarter of 2024 compared to the same period in 2023. The net loss was $14.3 million, a significant decline from the net income of $13.8 million in the first quarter of 2023. The company attributes these declines to lower rental asset sales, reduced rental demand from the utility end market, and supply chain issues affecting job starts in their core Transmission & Distribution markets. Despite these challenges, CTOS remains optimistic about future growth due to strong demand in their Truck & Equipment Sales and Aftermarket Parts and Services segments.
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