Summary of Custom Truck OneSource (CTOS) FY Conference Call Company Overview - **Company**: Custom Truck OneSource (CTOS) - **Industry**: Specialty equipment rental and sales, focusing on electric, utility transmission and distribution, communications, and rail markets in North America - **Business Model**: One-stop shop offering rental, sales, and aftermarket parts and services [1][2] Key Points and Arguments Rental Fleet Characteristics - **Fleet Size**: Over 10,000 units, with 70% focused on utility markets, 10% on rail and telecom, and the remainder on specialty vocational trucks [5][6] - **Asset Life**: Equipment has a useful life of 10 to 20 years, with an average rental duration of just over one year [7][8] - **Fleet Age**: The average age of the fleet is just over three years, which is considered a competitive advantage [9] Integrated Production Capabilities - **Production Model**: Custom Truck sources attachments and chassis directly from major suppliers, allowing for economies of scale and cost advantages [11][12] - **Customer Flexibility**: The company caters to customer needs through rentals, sales, and aftermarket services, enhancing customer retention [13][14] End Markets and Demand Trends - **Revenue Breakdown**: 55% from utility, just under 30% from infrastructure, and each rail and telecom contributing just under 5% [15][16] - **Market Drivers**: Strong demand for utility grid upgrades, infrastructure projects, and ongoing investments in rail and telecom, with a noted softness in telecom [17][19] Growth Opportunities - **Future Drivers**: Anticipated growth from utility grid upgrades, electrification, manufacturing onshoring, and data center investments [20][21] - **Q1 Performance**: Reported a 13% growth in the ERS segment, with improved rental fleet utilization at 78% [25] Tariff Impact and Procurement Strategy - **Tariff Resilience**: The company is well-positioned with a young rental fleet and significant pre-tariff inventory, minimizing the impact of potential tariffs [26][27] - **Supplier Relationships**: Strong relationships with suppliers have allowed for proactive procurement strategies to mitigate cost increases [28][30] Capital Allocation and Free Cash Flow - **Free Cash Flow Target**: Aiming for $50 million in levered free cash flow, with significant investments in the rental fleet projected between $375 million and $400 million [52][53] - **Debt Reduction Priority**: Focus on reducing net leverage to below three times by the end of 2026 [54][56] Backlog and Long-Term Growth - **Backlog Status**: Increased backlog by over $51 million in Q1, with a healthy range of four to six months on hand [60][62] - **Growth Projections**: Expected long-term growth rates in the high single digits to low double digits, with targeted gross profit margins of 15% to 18% for new sales [66][68] Customer Dynamics - **Demand from Customers**: Both larger and smaller customers are showing good demand, with smaller customers leaning towards rentals due to capital expense hesitancy [70][72] Additional Important Insights - **Greenfield Strategy**: The company is expanding its footprint with new locations and acquisitions, targeting areas with customer demand [45][49] - **Pricing Strategy**: Adjusted gross profit margins targeted at low to mid-seventy percent for rentals and mid-twenty percent for asset sales, with recent price increases reflecting market conditions [41][42][43] This summary encapsulates the key insights and strategic directions discussed during the Custom Truck OneSource FY Conference Call, highlighting the company's operational strengths, market dynamics, and future growth potential.

Custom Truck One Source (CTOS) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Brian Perman - Vice President, Investor RelationsRyan McMonagle - Chief Executive OfficerChris Eperjesy - CFONaim Kaplan - Equity Research Associate Conference Call Participants None - AnalystRohan Vasudeva - Equity Research Analyst Operator Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Custom Truck OneSource Inco ...

Custom Truck One Source (CTOS) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Brian Perman - Vice President, Investor RelationsRyan McMonagle - Chief Executive OfficerChris Eperjesy - CFONaim Kaplan - Equity Research Associate Conference Call Participants None - AnalystRohan Vasudeva - Equity Research Analyst Operator Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Custom Truck OneSource Inco ...

Custom Truck One Source (CTOS) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Speaker0 Thank you for standing by. My name is Tina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Custom Truck OneSource Incorporated First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. I will now hand the call over to your host t ...

Custom Truck One Source, Inc. (CTOS) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this company would post earnings of $0.04 per share when it actually produced earnings of $0.04, delivering no surprise.Over the last four quarters, the company ha ...

Custom Truck One Source 1st Quarter 2025 Investor Presentation CONFIDENTIAL DRAFT1 Safe Harbor This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, Adjusted Gross Profit, Adjusted Gross Margin, EBITDA and Adjusted EBITDA (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures may exclude items that are significant in u ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q _______________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38186 _______________________________ CUSTOM TRUCK ONE SOUR ...

EXHIBIT 99.1 Custom Truck One Source, Inc. Reports First Quarter 2025 Results and Reaffirms 2025 Guidance KANSAS CITY, Mo. April 30, 2025 – (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 the three months ended March 31, 2025. CTOS First-Quarter Highlights "In the first quarter, we achieved year-over-yea ...

Financial Data and Key Metrics Changes - Custom Truck One Source, Inc. generated $521 million in revenue for Q4 2024, with adjusted gross profit of $168 million and adjusted EBITDA of $102 million [26] - Average utilization of the rental fleet for Q4 was just under 79%, compared to 73% in Q3 and under 78% in Q4 of the prior year [27] - Total OEC (Original Equipment Cost) in the rental fleet ended the year at $1.52 billion, up $60 million versus year-end 2023 and up $22 million versus the end of Q3 [31] Business Line Data and Key Metrics Changes - The ERS segment had $172 million of revenue in Q4, down from $185 million in Q4 of 2023, but rental revenue was up 15% sequentially [28] - TES segment revenue for Q4 was over $308 million, a quarterly record, and total TES revenue for the year exceeded $1 billion for the first time, up almost 7% versus 2023 [15][32] - APS business posted revenue of $41 million in Q4, up more than 6% from Q4 of the previous year [35] Market Data and Key Metrics Changes - Approximately 55% of total revenue comes from the utility end market, which is experiencing significant growth due to increased electricity demand driven by AI and grid upgrades [10] - Net orders improved in Q4 to $280 million, up over 90% on a sequential basis and up 35% compared to Q4 of 2023 [34] - The company expects total revenue for 2025 to be between $1.97 billion and $2.06 billion, with projected adjusted EBITDA between $370 million and $390 million [22][39] Company Strategy and Development Direction - The company plans to continue investing in its rental fleet and expanding its physical presence, including opening a new branch in Portland, Oregon [14][24] - Management emphasized the importance of long-term relationships with strategic suppliers and a diversified customer base as key to success [23] - The company aims to achieve a net leverage ratio below three times by fiscal 2026, with a target to get below four times by the end of fiscal 2025 [40][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand drivers in the industry, despite some demand weakness experienced in certain utility markets [41] - The company anticipates double-digit adjusted EBITDA growth across its consolidated business in 2025, driven by strong market tailwinds [25][41] - Management noted that high interest rates and economic caution influenced customer purchasing behavior, but they are closely monitoring order intake [17] Other Important Information - The company closed on a sale-leaseback transaction on eight properties for net proceeds of over $52 million, which were used to reduce borrowings [21] - Inventory management efforts resulted in a reduction of more than $150 million in Q4, contributing to lower balances on floor plan lines and reduced borrowings [37] - The company is monitoring developments involving tariffs and chassis emission regulations, with approximately 30% of total purchases coming from Mexico and Canada [19][20] Q&A Session Summary Question: Concerns about TES Revenue guidance and backlog - Management explained that the normalized backlog is four to six months and emphasized the increase in net orders as a positive indicator for revenue growth [45][46] Question: Seasonality of revenue and EBITDA - Management expects a similar split of revenue and EBITDA between the first and second halves of the year, with slight variations [52][54] Question: Impact of sale-leaseback on lease expenses - Management clarified that the sale-leaseback will result in an incremental lease expense of approximately $4.5 to $5 million annually, primarily affecting cost of goods sold [56] Question: Margin outlook and tariff impacts - Management provided insights on margin targets, indicating low to mid-seventy percent margins for rental and mid-teens for TES, while also discussing strategies to mitigate tariff impacts [65][69] Question: Infrastructure bill benefits - Management noted that benefits from the infrastructure bill are still emerging and described the current situation as mid-innings in terms of impact [74] Question: Utilization progression in the full year guide - Management indicated that utilization is expected to remain in the high seventies to low eighties range, driven by strong demand from utility customers [78][82]

分组1 - Custom Truck One Source, Inc. (CTOS) reported quarterly earnings of $0.04 per share, matching the Zacks Consensus Estimate, but down from $0.07 per share a year ago [1] - The company posted revenues of $520.74 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 4.80% and slightly down from $521.75 million year-over-year [2] - Custom Truck One Source shares have declined approximately 13.9% since the beginning of the year, contrasting with the S&P 500's decline of -0.5% [3] 分组2 - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The estimate revisions trend for Custom Truck One Source is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is -$0.04 on revenues of $421.56 million, and for the current fiscal year, it is -$0.04 on revenues of $1.87 billion [7] 分组3 - The Automotive - Original Equipment industry, to which Custom Truck One Source belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, which may negatively impact stock performance [8]