Custom Truck Earnings Reports

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.