CTOS Q1 revenue $366.5M, Adj. EBITDA $91.5M; maintains full-year outlook

Custom Truck One Source, Inc.

2022-Q1 EPS reported -$0.01 revenue$366,476,000

Total revenue $366.5M; gross profit $84.5M (+8.5% vs Q4 2021).
Net loss of $3.3M, improved from $3.7M in Q4 2021.
Adjusted EBITDA $91.5M vs $95.6M Q4 2021; pro forma Adj. EBITDA up 25.5% YoY.
Sales order backlog grew 42.4% to $586.4M; closed HiRail acquisition for ~$51.6M.
Pro forma rental revenue up 8.9% YoY; fleet utilization 82.5%.

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