CTOS reports record Q4 revenue $528M, full-year Adj EBITDA $384M, issues strong FY2026 guidance

Custom Truck One Source, Inc.

Q4 revenue $528.2M (record), up 1.4% YoY; full-year revenue $1,944M, up 7.9%.
Q4 net income $20.9M; full-year net loss $31.1M; Adjusted EBITDA Q4 $120.7M (+18.4%), full-year $383.6M (+12.9%).
Fleet utilization 83.6% (highest in ~3 years); total OEC $1.64B record; inventory down >$100M in Q4.
FY2026 guidance: revenue $2,005-2,120M (3-9% growth), Adj EBITDA $410-435M (7-13% growth).
Net leverage 4.3x; targeting below 4x by end-2026, below 3x in 2027; new 2-segment reporting from Q1 2026.

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