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 (NYSE: CTOS) news coverage tracks developments from one of North America's specialized truck and heavy equipment providers. The company serves utility, infrastructure, and construction markets through equipment sales, rentals, parts, service, and financing operations.
News for Custom Truck One Source typically includes quarterly and annual earnings reports detailing rental utilization, equipment sales volumes, and aftermarket service performance. The company's expansion activities generate coverage when new locations open to extend regional service capabilities. Equipment industry conferences and trade shows often feature company participation and product announcements.
Investors following CTOS monitor developments across multiple revenue streams: equipment sales transactions, rental fleet performance, aftermarket parts and service demand, and financing activity. The company's Load King manufacturing division adds another dimension with product launches and production updates. Geographic expansion news provides insight into market penetration strategy.
This news page aggregates press releases, earnings announcements, investor presentations, and material developments for Custom Truck One Source. Bookmark this page to track company announcements, equipment industry trends affecting CTOS operations, and investor-relevant disclosures.
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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