secwatch.observer — SEC 8-K summary
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Issuer:     Custom Truck One Source, Inc. (CTOS)
CIK:        0001709682
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001709682-25-000022
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CTOS Q1 revenue up 2.7% to $422M; net loss widens to $17.8M; reaffirms 2025 guidance
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- Total revenue $422.2M (+2.7% YoY); rental revenue up 9.5% to $116.3M; equipment sales flat.
- Net loss of $17.8M vs. $14.3M loss in Q1 2024; adjusted EBITDA $73.4M down 5.1% YoY.
- ERS fleet utilization 77.7% (up from 73.3%); average OEC on rent +13% YoY to $1.20B.
- TES revenue down 3.1% to $232.5M; sales order backlog $420M as of March 31, 2025.
- Reaffirms 2025 guidance: revenue $1.97-$2.06B, adjusted EBITDA $370-$390M; targets $50-$100M levered free cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1709682/000170968225000022/0001709682-25-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1709682/000170968225000022/ctos-20250430.htm
  HTML page:      https://secwatch.observer/filing/0001709682-25-000022

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