Custom Truck One Source Up 3.85% To $6.87 After Earnings Beat

Wednesday, August 9, 2023 - Custom Truck One Source (CTOS) reported upside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Custom Truck One Source were at $0.02. The company beat those estimates with an EPS of $0.05. The earnings per share of $0.05 (which represents a -150% EPS surprise) led to the company's profits falling 0% compared to last year when the firm reported an EPS of $0.05. The neutral in Custom Truck One Source's annual growth rate represents how the business is performing neutrally amid recent economic conditions.

Analyst projections for Custom Truck One Source revenue came in at a consensus of $387.9 million. Second-Quarter revenues surpassed estimates for $456.8 million by $68.9 million (18%). The company achieved 26% growth year-over-year compared to the firm's revenue of $362.1 million from the year-ago quarter. The lower earnings growth relative to revenue signals Custom Truck One Source has not been able to improve its profit margin.

The stock is up 3.85% to $6.87 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Custom Truck One Source has performed a little above average during the past few months. Before the report, Custom Truck One Source received a Long-Term Technical Rank by InvestorsObserver of 51, putting it in the top half of stocks. The firm set a 52-week high on February 16, 2023 at $7.64 and set a 52-week low on November 9, 2022 at $5.53.

Custom Truck One Source Inc is a one-stop-shop provider of specialty equipment in the electric utility transmission and distribution, telecom, rail, and infrastructure end-markets in North America. The company's segment includes Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). It generates maximum revenue from the TES segment. Geographically, it derives a majority of revenue from the United States.