CTOS Q2 net income $13.6M, Adj EBITDA $85.4M; raises FY guidance; appoints CFO, $30M buyback

Custom Truck One Source, Inc.

2022-Q2 EPS reported $0.04 revenue$728,582,000

Q2 revenue $362.1M (down 3.5% YoY); rental revenue up 13.7% to $112.1M; gross profit $82.8M (+77.3% YoY).
Net income $13.6M vs net loss $129.4M in Q2 2021; first positive net income since the merger.
FY 2022 guidance: revenue $1.54-1.65B, Adj EBITDA $385-400M; ERS and APS segment guidance reaffirmed.
Christopher J. Eperjesy appointed CFO effective Aug 15, 2022; Todd Barrett to continue as CAO.
Board authorized $30M stock repurchase program; sales order backlog $663.6M (+198% YoY).

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