Custom Truck One Source, Inc. (CTOS) Form 10-Q — Oct 26, 2026
Custom Truck One Source swung to Q3 2026 net income of $2.3 million ($0.01 EPS) versus a $5.8 million loss in Q3 2025, on total revenue of $495.2 million, up 2.7% year over year. Rental revenue jumped 20.1% to $152.7 million as fleet utilization improved to 81.5% and average OEC on rent rose 10.5%, while equipment sales slipped 3.4% partly due to a vendor recall and hailstorm damage that hurt unit volumes by more than $20 million. Nine-month net income was $8.6 million versus a $51.9 million loss in the prior-year period, with sales order backlog up 22.2% to $341.9 million and net leverage improving to 3.70x on LTM Adjusted EBITDA of $446.4 million.
Key figures
- Eps
- 0.01 (Q3 basic/diluted); 0.04 (nine months)
- Revenue
- 495224000
- Net Income
- 2305000
- Revenue Yoy
- 2.7% (Q3); 7.4% nine months
- Total Assets
- 3596345000
- Cash Position
- 14564000
- Shares Outstanding
- 227173348
- Abl borrowings
- $710.0 million
- Abl availability
- $234.3 million
- Fleet utilization
- 81.5%
- Adjusted ebitda q3
- $110.9 million
- Net leverage ratio
- 3.70x
- Nine month revenue
- $1.52 billion
- Ltm adjusted ebitda
- $446.4 million
- Sales order backlog
- $341.9 million (+22.2% YoY)
- Nine month net income
- $8.6 million vs. $(51.9) million prior year
- Operating cash flow nine months
- $231.7 million
AI analysis
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