Filing Flows › Custom Truck One Source (CTOS) › Q2 2026 › vs Q2 2025
Custom Truck One Source (CTOS) Q2 2026 vs Q2 2025 (year over year)
Custom Truck One Source's revenue rose $52.0M (+10%) from $511M in Q2 2025 to $563M in Q2 2026. The biggest changes: Total sales and services +$27.7M (+7%); Total rental revenue +$24.2M (+20%). Gross margin 22.0% against 20.0% (+2.0 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 22.0% | 20.0% | +2.0 pts |
| Operating margin | 8.3% | 5.5% | +2.8 pts |
| Net margin | 1.8% | -5.5% | +7.4 pts |
| Free cash flow margin | 5.8% | 23.7% | -17.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Equipment Sales | $384M | $356M | $27.4M | +8% |
| Rental | $137M | $115M | $22.6M | +20% |
| Parts sales and services | $34.8M | $34.6M | $270K | +0.8% |
| Shipping and handling | $7.8M | $6.2M | $1.6M | +27% |
| Total sales and services | $418M | $391M | $27.7M | +7% |
| Total rental revenue | $145M | $121M | $24.2M | +20% |
| Revenue | $563M | $511M | $52.0M | +10% |
| Gross profit | $124M | $103M | $21.4M | +21% |
| Cost of revenue | $439M | $409M | $30.5M | +7% |
| Operating profit | $46.6M | $27.9M | $18.7M | +67% |
| Operating expenses | $77.4M | $74.6M | $2.7M | +4% |
| Pre-tax earnings | $9.0M | −$10.9M | $19.9M | — |
| Other expense, net | $37.6M | $38.8M | −$1.2M | -3% |
| SG&A | $61.3M | $59.2M | $2.1M | +4% |
| Other operating costs | $16.1M | $15.4M | $639K | +4% |
| Income tax benefit | $1.4M | −$17.5M | $18.9M | — |
| Net earnings | $10.4M | −$28.4M | $38.8M | — |
| Operating cash sources | $82.7M | $39.4M | $43.3M | +110% |
| Depreciation & amortization | $68.9M | $66.0M | $2.9M | +4% |
| Share-based compensation | $3.4M | $1.8M | $1.7M | +93% |
| Working capital & other | $38.4M | −$86.3M | $125M | — |
| Operating cash flow | $44.4M | $126M | −$81.3M | -65% |
| Free cash flow (OCF − capex) | $32.9M | $121M | −$88.3M | -73% |
| Capital expenditures | $11.5M | $4.6M | $6.9M | +152% |
Questions
How much did Custom Truck One Source's revenue grow year over year in Q2 2026?
Custom Truck One Source's revenue rose $52.0M (+10%) from $511M in Q2 2025 to $563M in Q2 2026.
What drove Custom Truck One Source's revenue change in Q2 2026?
Total sales and services +$27.7M (+7%); Total rental revenue +$24.2M (+20%).