---
schema_version: "secwatch.filing_event.v1"
accession: "0001709682-26-000017"
form_type: "8-K"
ticker: "CTOS"
cik: "0001709682"
company_name: "Custom Truck One Source, Inc."
filed_at: "2026-04-27T23:59:59+00:00"
generated_at: "2026-05-15T03:54:04.520868+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CTOS Q1 revenue record $461.6M (+9.3% YoY); raises FY 2026 Adjusted EBITDA guidance to $415M-$440M

## Summary
- Net loss narrowed to $4.1M from $17.8M YoY; Adjusted EBITDA $98.0M, up 33.4%.
- SER rental fleet utilization 81.4% (+370bps YoY); average OEC on rent up 11.8%.
- STEM equipment sales +4.4% YoY; backlog $411.3M, up ~23% from Q4 2025.
- FY 2026 EBITDA guidance raised to $415M-$440M; levered FCF expected >$50M.
- Net leverage 4.02x; target below 4x by year-end 2026, below 3x in 2027.

## SEC filing metadata
- accession: 0001709682-26-000017
- form_type: 8-K
- ticker: CTOS
- cik: 0001709682
- company_name: Custom Truck One Source, Inc.
- filed_at: 2026-04-27T23:59:59+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/1709682/000170968226000017/0001709682-26-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1709682/000170968226000017/ctos-20260427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001709682-26-000017
- JSON: https://secwatch.observer/filing/0001709682-26-000017.json
- Plain text: https://secwatch.observer/filing/0001709682-26-000017.txt

## Key facts
- Earnings Releases
  Custom Truck One Source, Inc. reported the three months ended March 31, 2026 results: revenue $461.6 million, net income Net loss of $4.1 million. Guidance raised.
  - Period: the three months ended March 31, 2026
  - Revenue: $461.6 million
  - Net income: Net loss of $4.1 million
  - Guidance: raised
  - Result: reported results
  source text: infrastructure-related end markets, today reported financial results for the three months ended March 31, 2026. CTOS First-Quarter Highlights • Record first quarter revenue of $461.6 million, an increase of $39.4 million, or 9.3%, compared to the first quarter of 2025 • Increased Average OEC on rent by $141.4 million, or 11.8%, compared to the first quarter of 2025 •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1709682/000170968226000017/0001709682-26-000017-index.htm

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