---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-24-000036"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:40:56.773937+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Custom Truck One Source Q1 net loss $14.3M, revenue down 9%, cuts FY 2024 guidance

## Summary
- Q1 revenue $411.3M (-9% YoY); net loss $14.3M vs net income $13.8M in Q1 2023.
- Adjusted EBITDA $77.4M, down 26.4% vs Q1 2023 record $105.2M.
- ERS rental revenue $103.3M (-9.2%); fleet utilization 73.3% (down from 83.6%).
- TES revenue up 14.7% to $239.9M; sales backlog $537.3M (-37.2% YoY).
- FY 2024 guidance lowered: revenue $1.95-2.13B, Adj. EBITDA $400-440M, net leverage target <3.5x.

## SEC filing metadata
- accession: 0001709682-24-000036
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1709682/000170968224000036/0001709682-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968224000036/ctos-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-24-000036
- JSON: https://secwatch.observer/filing/0001709682-24-000036.json
- Plain text: https://secwatch.observer/filing/0001709682-24-000036.txt

## Key facts
- Earnings Releases
  Custom Truck One Source, Inc. reported three months ended March 31, 2024 results: revenue $411.3 million, net income Net loss of $14.3 million.
  - Period: three months ended March 31, 2024
  - Revenue: $411.3 million
  - Net income: Net loss of $14.3 million
  - Result: reported results
  source text: and other infrastructure-related end markets, today reported financial results for its three months ended March 31, 2024. CTOS First-Quarter Highlights • Total revenue of $411.3 million, a decrease of $40.9 million, or 9.0%, compared to $452.2 million for the first quarter of 2023 primarily due to fewer rental asset sales and lower rental demand from the utility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968224000036/0001709682-24-000036-index.htm

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