---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-23-000042"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:29:14.348197+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Custom Truck Q1 rev $452M (+23% YoY); net income $13.8M vs loss; raises FY23 guidance

## Summary
- Total revenue $452.2M, up 23.4% YoY; rental revenue +8.4%, equipment sales +32.6%.
- Net income $13.8M vs net loss $3.3M in Q1 2022; Adjusted EBITDA $105.2M, +15% YoY.
- Full-year 2023 guidance raised: revenue $1,635M-$1,755M, Adj. EBITDA $420M-$440M.
- Sales order backlog $855M, +13.4% from Dec 2022; net leverage ratio improved to 3.4x.
- ERS segment gross profit $66.3M (+25.2% YoY); TES gross profit $34.1M (+43.4% YoY).

## SEC filing metadata
- accession: 0001709682-23-000042
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000042/0001709682-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000042/ctos-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-23-000042
- JSON: https://secwatch.observer/filing/0001709682-23-000042.json
- Plain text: https://secwatch.observer/filing/0001709682-23-000042.txt

## Key facts
- Earnings Releases
  Custom Truck One Source, Inc. updated its first quarter ended March 31, 2023 guidance (raised).
  - Period: first quarter ended March 31, 2023
  - Guidance: raised
  - Result: reported results
  source text: On May 9, 2023, Custom Truck One Source, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000042/0001709682-23-000042-index.htm

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