Custom Truck One Source(NYSE) CTOS

Custom Truck One Source rents and sells heavy trucks and cranes. They help companies build and fix power lines and cell towers. Their equipment also supports railroads and forest maintenance projects.

Building North America's Infrastructure

• Equipment Sales: Direct sales of vocational trucks and machinery modified to meet specific customer needs; accounts for 68.1% of revenue for the three-month period ended June 30, 2026.
• Rental Solutions: Short-term and long-term access to specialized fleet items including bucket trucks and digger derricks; accounts for 25.7% of revenue for the three-month period ended June 30, 2026.
• Aftermarket Services: Maintenance, repair, and specialized replacement parts for heavy vocational equipment; accounts for 6.2% of revenue for the three-month period ended June 30, 2026.

Strategic Evolution and Fleet Growth

• Reclassified reporting into two segments, Specialty Equipment Rentals and Specialty Truck Equipment & Manufacturing, on Jan. 1, 2026.
• Transitioned two facilities from rental operations to manufacturing operations to support increased equipment production.
• Grew the rental fleet to more than 10,350 units as of June 30, 2026.

An Integrated Equipment Model

The company uses a direct-to-customer sales model and own-brand manufacturing through Load King. This integrated approach allows for short lead times on tailored equipment solutions for utility and infrastructure contractors.

Reviewing the Financial Trajectory

• Total revenue reached $1,025.1 million during the six-month period ended June 30, 2026, up 9.8% year over year.
• Net income improved to $6.3 million for the six-month period ended June 30, 2026, from a net loss of $46.2 million in 2025.
• Average original equipment cost on rent increased 13.6% during the six-month period ended June 30, 2026.
• Net cash from operating activities was $68.2 million for the six-month period ended June 30, 2026, down from $181.4 million in 2025.

Bottom Line

Custom Truck has evolved into an integrated manufacturer and provider for critical utility and telecommunications infrastructure. Its transition toward internal manufacturing and direct sales supports a broad range of specialized equipment needs across North America.