secwatch.observer — SEC 8-K summary
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Issuer:     Custom Truck One Source, Inc. (CTOS)
CIK:        0001709682
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001709682-23-000042
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1709682/000170968223000042/0001709682-23-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1709682/000170968223000042/ctos-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001709682-23-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer