Filing Flows › Custom Truck One Source (CTOS) › Q1 2025
Custom Truck One Source (CTOS) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Custom Truck One Source (CTOS) reported revenue of $422M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -19% from the quarter before. Operating margin was 2.9%, net loss $17.8M (4.2% of revenue).
Custom Truck One Source, Q1 2025: revenue $422M (+3% year over year), operating margin 2.9%, net loss $17.8M, operating cash flow $55.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $422M | -19% | +3% |
| Operating profit | $12.4M | — | — |
| Net earnings | −$17.8M | — | — |
| Operating cash flow | $55.6M | -32% | — |
| Free cash flow | $51.7M | — | — |
What changed
Revenue was $422.2M in Q1 2025, up 3% year over year and down 19% from the previous quarter. Equipment sales was the largest line at 65% of revenue. Rental added $8.8M year over year (up 9%), 80% of the total change. Parts sales and services declined 1%.
Gross margin was 20.3%, down 1.8 points from a year earlier. Operating profit was $12.4M, a 2.9% margin (down 1.5 points year over year). Operating profit fell $6.0M even though revenue rose $10.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 1% against revenue growth of 3%. The quarter ended with a net loss of $17.8M, after a profit of $27.6M the previous quarter. Net interest and other expense of $37.9M was the main reason.
Operating cash flow was $55.6M. Non-cash charges added back $62.1M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $8.9M. Capital expenditures of $3.9M left free cash flow of $51.7M.
Questions
What was Custom Truck One Source's revenue in the first quarter 2025?
Custom Truck One Source (CTOS) reported revenue of $422M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -19% from the quarter before.
Was Custom Truck One Source profitable in the first quarter 2025?
Operating profit was $12.4M (2.9% of revenue) and net loss $17.8M.