Custom Truck One Source, Inc. Reports First Quarter 2024 and Updates Full-Year Guidance
Custom Truck One Source, Inc. (CTOS)
Company Research
Source: Business Wire
KANSAS CITY, Mo.--(BUSINESS WIRE)--Custom Truck One Source, Inc. (NYSE: CTOS), a leading provider of specialty equipment to the electric utility, telecom, rail, forestry, waste management and other infrastructure-related end markets, today reported financial results for its three months ended March 31, 2024.CTOS First-Quarter HighlightsTotal revenue of $411.3 million, a decrease of $40.9 million, or 9.0%, compared to $452.2 million for the first quarter of 2023 primarily due to fewer rental asset sales and lower rental demand from the utility end marketGross profit of $90.7 million, a decline of $19.0 million, or 17.3%, compared to $109.7 million for the first quarter of 2023Adjusted Gross Profit of $134.5 million, a decrease of $15.5 million, or 10.4%, compared to $150.0 million for the first quarter of 2023Net loss of $14.3 million, compared to net income of $13.8 million in the first quarter of 2023Adjusted EBITDA of $77.4 million, a decrease of $27.8 million, or 26.4% compared
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News
- Custom Truck One Source, Inc. (NYSE: CTOS) had its price target lowered by analysts at Oppenheimer Holdings Inc. from $8.00 to $7.00. They now have an "outperform" rating on the stock.MarketBeat
- Analysts Have Been Trimming Their Custom Truck One Source, Inc. (NYSE:CTOS) Price Target After Its Latest Report [Yahoo! Finance]Yahoo! Finance
- Custom Truck One Source, Inc. (NYSE:CTOS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Custom Truck One Source, Inc. (NYSE: CTOS) had its price target lowered by analysts at JPMorgan Chase & Co. from $7.00 to $6.00. They now have a "neutral" rating on the stock.MarketBeat
- Custom Truck One Source, Inc. (NYSE: CTOS) had its price target lowered by analysts at Robert W. Baird from $8.00 to $7.00. They now have an "outperform" rating on the stock.MarketBeat
CTOS
Earnings
- 5/2/24 - Miss
CTOS
Sec Filings
- 5/10/24 - Form 4
- 5/9/24 - Form 4
- 5/8/24 - Form 4
- CTOS's page on the SEC website