Custom Truck One Source, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 02, 2024 at 09:15 pm
Share
Custom Truck One Source, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 106.17 million compared to USD 118.29 million a year ago. Revenue was USD 411.31 million compared to USD 452.16 million a year ago.
Net loss was USD 14.34 million compared to net income of USD 13.8 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to diluted earnings per share from continuing operations of USD 0.06 a year ago.
Custom Truck One Source, Inc. is a provider of specialty equipment, parts, tools, accessories and services to the electric utility transmission and distribution, telecommunications and rail markets in North America. The Company offers its specialized equipment to a diverse customer base for the maintenance, repair, upgrade and installation of critical infrastructure assets. Its segments include Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). ERS segment owns a range of new and used specialty equipment, including truck-mounted aerial lifts, cranes, service trucks, dump trucks, trailers, digger derricks and other machinery and equipment. TES segment offers a variety of new equipment for sale to be used across its end-markets. APS segment includes the sale of specialized aftermarket parts, including captive parts related to its Load King brand, used in the maintenance and repair of the equipment the Company sells and rents.