---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-24-000009"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T01:40:33.278713+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CTOS reports record 2023 revenue $1.87B, net income $50.7M; guides 2024 rev $2.0-2.18B

## Summary
- Q4 revenue $521.8M (+7.2% YoY), full-year revenue $1,865.1M (+18.6% YoY); Q4 net income $16.1M vs $30.9M in Q4 2022.
- Full-year 2023 Adjusted EBITDA $426.9M (+8.6% YoY); Q4 Adjusted EBITDA $118.4M vs $124.5M in Q4 2022.
- 2024 guidance: revenue $2.0-2.18B, Adjusted EBITDA $440-470M; targets >$100M levered free cash flow and net leverage <3.0x by year-end.
- TES segment Q4 revenue $298.9M (+20.9% YoY) on record production; ERS rental revenue $116.6M (-5.5% YoY) due to lower utilization (77.6% vs 86.3%).
- As of Dec 31: total debt $1,517.8M, net leverage 3.5x; availability $194.5M; repurchased $18.9M common stock in Q4.

## SEC filing metadata
- accession: 0001709682-24-000009
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1709682/000170968224000009/0001709682-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968224000009/ctos-20240307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-24-000009
- JSON: https://secwatch.observer/filing/0001709682-24-000009.json
- Plain text: https://secwatch.observer/filing/0001709682-24-000009.txt

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