NYSE$CTOS
Custom Truck One Source Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Custom Truck One Source reported Q4 2025 revenue of $528.2M and net income of $20.9M.
Q4 revenue rose 1.4% to a record $528.2 million; adjusted EBITDA grew 18.4% to $120.7 million. Fleet utilization reached 83.6%. FY25 revenue was $1.94 billion with adjusted EBITDA of $383.6 million (+12.9%).
- ERS segment Q4 revenue +20%; rental utilization near three-year high.
- Inventory down more than $100M in Q4.
- 2026 revenue outlook +3% to +9%; adjusted EBITDA +7% to +13%.
- Segment realignment to SER/STEM effective Q1 FY26.
Headline financials
Revenue & EPS history
Custom Truck · Revenue · Quarterly
$528M
Revenue by segment
Custom Truck · $457M total across 3 segments · Q2 2023
- Truck and Equipment Sales$251M—55.0%
- Equipment Rental Solutions$169M—36.9%
- Aftermarket Parts & Services$36.9M—8.1%
Forward guidance
2026 consolidated revenue +3% to +9%; adjusted EBITDA +7% to +13%; levered FCF expected >$50M.
Tailwinds
- Fleet utilization and OEC on rent at highs.
- Inventory reduction supports working capital.
Headwinds
- TES Q4 revenue -7.7% on timing/tariff pull-forward.
- Leverage ratio 4.3x at year-end.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
-3.3%
Avg return
Earnings day
-1.8%
Avg return
5 days after
+1.9%
Avg return
30 days after
36%
12 / 33 earnings
Positive
+20.1%
Q4 2024
Best reaction
-19.8%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.5% | +15.6% | +11.9% | |
| Q4 2025 | -11.2% | -8.3% | +14.1% | |
| Q3 2025 | -11.0% | -12.6% | -4.0% | |
| Q1 2025 | -3.0% | +2.7% | +6.7% | |
| Q4 2024 | +20.1% | +18.2% | -12.4% | |
| Q3 2024 | +12.7% | +13.2% | +64.7% | |
| Q2 2024 | -18.8% | -22.0% | -18.2% | |
| Q1 2024 | -13.8% | -16.3% | -1.4% | |
| Q4 2023 | -16.1% | -14.1% | -4.9% | |
| Q3 2023 | -17.5% | -18.0% | -2.0% | |
| Q2 2023 | +0.0% | -1.2% | -0.6% | |
| Q1 2023 | +3.8% | +2.2% | +13.4% | |
| Q4 2022 | +10.1% | +5.3% | +6.1% | |
| Q3 2022 | -15.1% | -10.6% | +0.0% | |
| Q2 2022 | +2.0% | +11.8% | +2.9% | |
| Q1 2022 | -7.4% | +1.2% | -1.5% | |
| Q4 2021 | +2.1% | +4.5% | -3.8% | |
| Q3 2021 | +3.9% | +5.5% | -22.7% | |
| Q2 2021 | -10.1% | -14.9% | +15.2% | |
| Q1 2021 | -5.9% | -8.6% | -10.2% | |
| Q4 2020 | +2.8% | +9.0% | +19.2% | |
| Q3 2020 | +9.0% | +13.3% | +57.6% | |
| Q2 2020 | -0.3% | +7.1% | +18.8% | |
| Q1 2020 | -15.4% | -17.1% | -32.3% | |
| Q4 2019 | -12.3% | +11.8% | -3.0% | |
| Q3 2019 | -19.8% | -31.5% | -21.8% | |
| Q2 2019 | +1.0% | -4.5% | -27.5% | |
| Q1 2019 | +0.0% | +0.1% | -0.6% | |
| Q4 2018 | +0.7% | +0.7% | +0.4% | |
| Q3 2018 | +0.0% | +0.0% | +0.0% | |
| Q2 2018 | +0.0% | +0.0% | +0.1% | |
| Q1 2018 | +0.0% | +0.0% | -0.4% | |
| Q3 2017 | -0.3% | -0.3% | -0.6% | |
| Q2 2017 | — | — | — |
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