---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-23-000057"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T16:20:37.647051+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Custom Truck Q3 revenue $434M (+21%), net income $9.2M vs -$2.4M; raises FY revenue guidance

## Summary
- Revenue $434.4M vs $357.8M (+21.4%); net income $9.2M vs loss of $2.4M.
- Adjusted EBITDA $100.2M vs $91.6M (+9.3%); net leverage ratio 3.3x.
- TES segment revenue up 34% YoY; fleet utilization 78.9% (80.5% at quarter end).
- Full-year revenue guidance raised to $1,765M-$1,870M; Adjusted EBITDA reaffirmed $425M-$445M.
- Repurchased $15.8M of common stock during Q3; leverage target delay to '24.

## SEC filing metadata
- accession: 0001709682-23-000057
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000057/0001709682-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000057/ctos-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-23-000057
- JSON: https://secwatch.observer/filing/0001709682-23-000057.json
- Plain text: https://secwatch.observer/filing/0001709682-23-000057.txt

## Key facts
- Earnings Releases
  Custom Truck One Source, Inc. reported three months ended September 30, 2023 results: revenue $434.4 million, net income $9.2 million. Guidance raised.
  - Period: three months ended September 30, 2023
  - Revenue: $434.4 million
  - Net income: $9.2 million
  - Guidance: raised
  - Result: reported results
  source text: Total revenue of $434.4 million, an increase of $76.6 million, or 21.4%, compared to $357.8 million for the third quarter of 2022 as a result of continued strong demand across our end markets • Gross profit of $107.2 million, an improvement of $19.0 million, or 21.5%, compared to $88.2 million for the third quarter of 2022 • Adjusted Gross Profit of $149.6 million, an increase of $18.8 million, or 14.4%, compared to $130.8 million for the third quarter of 2022 • Net income of $9.2 million, an increase of $11.6 million, compared to net loss of $2.4 million, in the third quarter of 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968223000057/0001709682-23-000057-index.htm

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