Quarterly ResultApr 27, 2026, 04:23 PM
CTOS Q1 Revenue $461.6M (+9.3%); Adj. EBITDA $98.0M (+33.4%); Raises 2026 Guidance
AI Summary
Custom Truck One Source, Inc. reported record first-quarter 2026 revenue of $461.6 million, a 9.3% increase year-over-year. Adjusted EBITDA grew significantly by 33.4% to $98.0 million, and the net loss improved by 76.9% to $4.1 million. Driven by strong conditions in transmission and distribution markets, the company increased its full-year 2026 Adjusted EBITDA guidance range to $415M - $440M. The company also introduced new segment reporting for Specialty Equipment Rentals (SER) and Specialty Truck Equipment and Manufacturing (STEM), with SER Adjusted EBITDA at $105.5 million and STEM Adjusted EBITDA at $32.7 million.
Key Highlights
- Record Q1 2026 revenue of $461.6 million, up 9.3% YoY.
- Adjusted EBITDA for Q1 2026 was $98.0 million, a 33.4% increase YoY.
- Net loss improved by 76.9% to $4.1 million in Q1 2026.
- Increased 2026 full-year Adjusted EBITDA guidance to $415M - $440M.
- Specialty Equipment Rentals (SER) Adjusted EBITDA was $105.5 million.
- Specialty Truck Equipment & Manufacturing (STEM) Adjusted EBITDA was $32.7 million.
- Average OEC on rent increased by $141.4 million, or 11.8%, compared to Q1 2025.
- Rental fleet average utilization was 81.4%, up 370 basis points YoY.