earnings
confidence high
sentiment positive
materiality 0.75
CTOS reports FY2021 pro forma revenue up 9.4% to $1.48B; Adj. EBITDA up 9.5%; issues 2022 outlook
Custom Truck One Source, Inc.
- Pro forma FY revenue $1,483.6M (+9.4% YoY); pro forma Adj. EBITDA $323.1M (+9.5% YoY).
- Q4 total revenue $356.4M; Adj. EBITDA $95.6M vs $84.4M in Q3 2021.
- Q4 net loss $3.7M (improved from $20.5M in Q3); FY net loss $181.5M includes $61.7M debt extinguishment.
- 2022 guidance: revenue $1,565M-$1,750M; Adj. EBITDA $385M-$410M.
- Sales order backlog $411.6M (+21.6% sequentially); fleet utilization 83.7%.