Custom Truck Earnings Reports

Custom Truck One Source, Inc. delivered a strong third quarter in 2025, with total revenue increasing by 7.8% year-over-year to $482.1 million and Adjusted EBITDA growing by 19.6% to $96.0 million. The company experienced a net loss of $5.8 million, a significant improvement from the $17.4 million net loss in the prior year's quarter. Growth was primarily driven by strength in core T&D markets and substantial growth in the Equipment Rental Solutions (ERS) segment.

Custom Truck One Source, Inc. delivered a robust second quarter in 2025, achieving substantial year-over-year revenue growth of 20.9% to $511.5 million and a 16.7% increase in Adjusted EBITDA to $93.4 million. This performance was fueled by strong demand in core markets, particularly within the Equipment Rental Solutions (ERS) and Truck and Equipment Sales (TES) segments, leading to increased rental revenue, equipment sales, and improved fleet utilization.

Custom Truck One Source, Inc. achieved year-over-year revenue growth in the first quarter of 2025, primarily driven by strong performance in the utility, infrastructure, rail, and telecom end markets. The company reported an increase in rental revenue and rental asset sales, with improved fleet utilization. Despite a net loss, the company reaffirmed its full-year 2025 guidance, anticipating continued growth and a reduction in net leverage ratio.

Custom Truck One Source achieved Q4 2024 revenue of $520.7 million, reflecting sequential growth of 16.4%. The company reported net income of $27.6 million, reversing a net loss in Q3. Rental revenue increased 4.3% year-over-year, while equipment sales declined slightly. The TES segment recorded record revenue exceeding $300 million for the quarter, and backlog remained strong despite a 46.4% reduction from the previous year.

Custom Truck One Source reported a 3.0% increase in total revenue compared to Q3 2023, driven by higher new truck sales and equipment rentals. The company is optimistic about fiscal 2025, anticipating benefits from secular tailwinds like AI, data center investments, electrification, and utility grid upgrades.

Custom Truck One Source reported a decrease in total revenue by 7.4% to $423.0 million and a net loss of $24.5 million compared to a net income of $11.6 million in the second quarter of 2023. Adjusted EBITDA decreased by 22.4% to $80.1 million. The company is updating its full-year revenue guidance to $1,800 million—$1,980 million and Adjusted EBITDA guidance to $340 million—$375 million.

Custom Truck One Source reported a decrease in total revenue to $411.3 million, a net loss of $14.3 million, and an adjusted EBITDA of $77.4 million for the first quarter of 2024. The company is updating its full-year revenue and Adjusted EBITDA guidance for 2024, expecting near-term pressure in demand in the utility market.