---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-23-000007"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2023-03-14T23:59:59+00:00"
generated_at: "2026-06-18T03:27:35.496749+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CTOS reports record Q4 revenue $486.7M, net income $30.9M, CEO transition to McMonagle

## Summary
- Q4 revenue $486.7M (+36.6% YoY); full-year revenue $1,573.1M (+34.8%).
- Q4 net income $30.9M vs loss $3.7M in Q4 2021; net leverage reduced to 3.5x.
- Q4 Adj. EBITDA $124.5M (27.7% margin); full-year Adj. EBITDA $392.98M.
- CEO Fred Ross retiring; Ryan McMonagle becomes CEO effective March 20, 2023.
- FY2023 guidance: revenue $1.61-1.73B, Adj. EBITDA $415-435M.

## SEC filing metadata
- accession: 0001709682-23-000007
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2023-03-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000007/0001709682-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000007/ctos-20230314.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-23-000007
- JSON: https://secwatch.observer/filing/0001709682-23-000007.json
- Plain text: https://secwatch.observer/filing/0001709682-23-000007.txt

## Key facts
- Earnings Releases
  Custom Truck One Source, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $486.7 million, net income $30.9 million.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $486.7 million
  - Net income: $30.9 million
  - Result: reported results
  source text: markets, today reported financial results for the fourth quarter and full year ended December 31, 2022. CTOS Fourth-Quarter and Full-Year Highlights • Total quarterly revenue of $486.7 million and annual revenue of $1,573.1 million, driven primarily by growth and continued strong demand from our end markets • Quarterly gross profit improvement of $50.4 million, or
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000007/0001709682-23-000007-index.htm
- Earnings Releases
  Custom Truck One Source, Inc. reported the fiscal year ended December 31, 2022 results: revenue $1,573.1 million, net income $38.9 million.
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $1,573.1 million
  - Net income: $38.9 million
  - Result: reported results
  source text: for the fourth quarter and full year ended December 31, 2022. CTOS Fourth-Quarter and Full-Year Highlights • Total quarterly revenue of $486.7 million and annual revenue of $1,573.1 million, driven primarily by growth and continued strong demand from our end markets • Quarterly gross profit improvement of $50.4 million, or 64.7%, to $128.3 million compared to $77.9
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000007/0001709682-23-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.