Filing Flows › Custom Truck One Source (CTOS) › Q2 2026 › vs Q1 2026
Custom Truck One Source (CTOS) Q2 2026 vs Q1 2026 (quarter over quarter)
Custom Truck One Source's revenue rose $102M (+22%) from $462M in Q1 2026 to $563M in Q2 2026. The biggest changes: Total sales and services +$94.0M (+29%); Total rental revenue +$7.8M (+6%). Gross margin 22.0% against 22.3% (-0.3 pts).
Custom Truck One Source, Q2 2026: revenue $563M (+10% year over year), operating margin 8.3%, net earnings $10.4M, operating cash flow $44.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 22.0% | 22.3% | -0.3 pts |
| Operating margin | 8.3% | 6.8% | +1.5 pts |
| Net margin | 1.8% | -0.9% | +2.7 pts |
| Free cash flow margin | 5.8% | 3.0% | +2.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Equipment Sales | $384M | $293M | $90.9M | +31% |
| Rental | $137M | $131M | $6.6M | +5% |
| Parts sales and services | $34.8M | $31.8M | $3.1M | +10% |
| Shipping and handling | $7.8M | $6.6M | $1.2M | +18% |
| Total sales and services | $418M | $324M | $94.0M | +29% |
| Total rental revenue | $145M | $137M | $7.8M | +6% |
| Revenue | $563M | $462M | $102M | +22% |
| Gross profit | $124M | $103M | $20.9M | +20% |
| Cost of revenue | $439M | $359M | $80.9M | +23% |
| Operating profit | $46.6M | $31.5M | $15.1M | +48% |
| Operating expenses | $77.4M | $71.6M | $5.8M | +8% |
| Pre-tax earnings | $9.0M | −$3.8M | $12.8M | — |
| Other expense, net | $37.6M | $35.3M | $2.4M | +7% |
| SG&A | $61.3M | $57.6M | $3.6M | +6% |
| Other operating costs | $16.1M | $14.0M | $2.1M | +15% |
| Income tax benefit | $1.4M | −$297K | $1.7M | — |
| Net earnings | $10.4M | −$4.1M | $14.5M | — |
| Operating cash sources | $82.7M | $65.3M | $17.4M | +27% |
| Depreciation & amortization | $68.9M | $68.2M | $686K | +1% |
| Share-based compensation | $3.4M | $1.2M | $2.3M | +191% |
| Working capital & other | $38.4M | $41.5M | −$3.1M | -8% |
| Operating cash flow | $44.4M | $23.8M | $20.6M | +86% |
| Free cash flow (OCF − capex) | $32.9M | $13.7M | $19.2M | +140% |
| Capital expenditures | $11.5M | $10.1M | $1.3M | +13% |
Questions
How much did Custom Truck One Source's revenue grow quarter over quarter in Q2 2026?
Custom Truck One Source's revenue rose $102M (+22%) from $462M in Q1 2026 to $563M in Q2 2026.
What drove Custom Truck One Source's revenue change in Q2 2026?
Total sales and services +$94.0M (+29%); Total rental revenue +$7.8M (+6%).