Filing Flows › Custom Truck One Source (CTOS) › Q1 2026
Custom Truck One Source (CTOS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 27, 2026
Custom Truck One Source (CTOS) reported revenue of $462M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -13% from the quarter before. Operating margin was 6.8%, net loss $4.1M (0.9% of revenue).
Custom Truck One Source, Q1 2026: revenue $462M (+9% year over year), operating margin 6.8%, net loss $4.1M, operating cash flow $23.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $462M | -13% | +9% |
| Operating profit | $31.5M | -39% | +154% |
| Net earnings | −$4.1M | -120% | — |
| Operating cash flow | $23.8M | -50% | -57% |
| Free cash flow | $13.7M | — | -74% |
What changed
Revenue was $461.6M in Q1 2026, up 9% year over year and down 13% from the previous quarter. Equipment Sales was the largest line at 63% of revenue. Rental added $20.3M year over year (up 18%), 52% of the total change. Parts sales and services declined 1%.
Gross margin was 22.3%, up 2.1 points from Q1 2025. Operating profit was $31.5M, a 6.8% margin (up 3.9 points year over year). Of the extra revenue versus Q1 2025, 48% reached operating profit, above the 3% margin then. Operating expenses fell 2% while revenue rose 9%. The quarter ended with a net loss of $4.1M, after a profit of $20.9M the previous quarter. Net interest and other expense of $35.3M was the main reason.
Operating cash flow was $23.8M (down 57% year over year). Non-cash charges added back $68.2M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items used $41.5M. Capital expenditures of $10.1M left free cash flow of $13.7M.
Questions
What was Custom Truck One Source's revenue in the first quarter 2026?
Custom Truck One Source (CTOS) reported revenue of $462M for the first quarter 2026 (Q1 2026), +9% from a year earlier and -13% from the quarter before.
Was Custom Truck One Source profitable in the first quarter 2026?
Operating profit was $31.5M (6.8% of revenue) and net loss $4.1M.