Custom Truck One Source, Inc. (CTOS) SEC Filings & Earnings Calls

Third-party equipment sales timing shift may cause Q3 revenue to be modestly below Q2; but full-year guidance raised.

“We expect third quarter revenue and Adjusted EBITDA to be up year-over-year but modestly below the second quarter, as certain third-party new equipment and used equipment sales... were delivered in the second quarter rather than the second half.”

Inventory and floor plan financing risk

“Inventory $1,042,203 as of June 30, 2026, compared to $930,939 as of December 31, 2025.”

Interest rate exposure on floating rate debt

“ABL Facility bears interest at SOFR plus 1.50% to 2.00%.”

Concentration in infrastructure end markets

“We are a specialty equipment provider to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management and other infrastructure-related industries in North America.” · word for word

High leverage and interest expense

“Interest expense, net $35,037 (in $000s) for Q1 2026; total debt net $1.63B”

Negative net income

“Net loss $(4,102) (in $000s) for Q1 2026”

Inventory buildup

“Inventory increased to $1,022,471 from $930,939 (Dec 2025), a 9.8% increase”

Net leverage reduction of ~30 bps indicates progress but leverage remains a focus.

“made substantial progress in reducing our net leverage, down almost 30 basis points versus the end of the previous quarter”

Pricing Pressure in Truck Sales

“The decrease in gross profit for the year ended December 31, 2025, compared to the year ended December 31, 2024, was due to continued pricing pressures on truck sales.” · word for word

Backlog Decline

“Sales order backlog (as of period end) $335,265 vs $368,779.” · word for word

Interest Rate Exposure

“As of December 31, 2025, we have variable rate debt, consisting of $1,355.4 million outstanding under the ABL Facility and floor plan financing arrangements.” · word for word

Net loss for full year despite revenue growth; high depreciation and interest costs weighing on bottom line.

“Full-year net loss of $31.1 million compared to a net loss of $28.7 million in 2024” · word for word

Inventory levels remain high; working capital management a focus.

“We made progress reducing our inventory in the fourth quarter, with inventory declining more than $100 million” · word for word

Departure of Chief Accounting Officer may create temporary gap in financial reporting oversight, though no disagreement indicates orderly transition.

“resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.” · word for word

Continued net losses

“Net Income (Loss) $(5,756) for the three months ended September 30, 2025.”

High inventory levels

“Inventory $1,035,642 as of September 30, 2025, representing 29% of total assets.”

Related party transactions

“The Company has transactions with related parties as summarized below.” · word for word

No material new risks; continued reliance on utility and infrastructure end markets.

“No specific risk factor updates in this filing.”