Financial Data and Key Metrics Changes - For Q3 2024, the company generated $447 million in revenue, $138 million in adjusted gross profit, and $80 million in adjusted EBITDA [23] - Average OEC on rent decreased year-over-year from just over $1.16 billion in Q3 2023 to $1.08 billion in Q3 2024, but improved sequentially from $1.04 billion in Q2 2024 [23][24] - The company expects total revenue for 2024 to be between $1.8 billion and $1.89 billion, with adjusted EBITDA projected between $340 million and $350 million [20][36] Business Line Data and Key Metrics Changes - The ERS segment had $150 million in revenue for Q3 2024, down from $167 million in Q3 2023, but rental revenue increased by 5% sequentially [24] - The TES segment saw a 13% revenue growth compared to Q3 last year, with year-to-date revenue up 8% [17] - The APS business posted revenue of $36 million in Q3, a slight increase from the previous year [31] Market Data and Key Metrics Changes - The utility end market, which accounts for about 60% of revenue, is experiencing robust demand due to increased electricity needs driven by AI and electrification trends [10][11] - The company anticipates a 24% to 29% increase in U.S. electricity demand by 2035, nearly double last year's forecast [11] - The TES backlog moderated to just under $400 million, down from a peak of over 12 months in early 2023 [28] Company Strategy and Development Direction - The company is strategically investing in its rental fleet to meet current and projected demand, with total OEC at just under $1.5 billion, the highest quarter-end level [16][27] - Management is optimistic about the long-term demand drivers in the industry and expects to return to double-digit adjusted EBITDA growth next year [21][38] - The company is closely monitoring upcoming chassis emission regulations and is prepared for anticipated demand increases [19] Management's Comments on Operating Environment and Future Outlook - Management noted that supply chain issues are resolving, interest rates are moderating, and regulatory delays are subsiding, leading to expected improvements [12] - The company is confident that current activity levels and strong market tailwinds will drive growth in 2025 [21][38] - Management acknowledged challenges in the used equipment market but expects improvements in Q4 due to seasonal buying patterns [39] Other Important Information - The company upsized its ABL facility by $200 million to $950 million and extended the maturity to August 2029 [32] - Borrowings under the ABL increased to $628 million, primarily due to inventory increases and lower-than-expected adjusted EBITDA performance [31] Q&A Session Summary Question: Comments on the used market - Management noted some demand in the used market with sequential growth, but there is pricing pressure. They expect improvement in Q4 [39] Question: Fleet utilization expectations - Management indicated that high 70s to low 80s utilization rates are desirable and reflect current market conditions [40][41] Question: Class 8 vocational truck demand - Management confirmed good availability of Class 8 chassis and does not anticipate significant pre-buy orders at the beginning of 2025 [42][46] Question: Growth CapEx and OEC growth outlook - Management expects mid-single-digit fleet growth as T&D market conditions improve, with formal guidance to be provided in March [62] Question: ERS segment revenue guidance - Management clarified that the guidance reflects a normalization of backlog and anticipates growth in Q4 [55][50] Question: Telecom segment activity - Management reported increased activity in telecom, with larger orders for rental equipment, although it remains a small segment [58]

Financial Performance - Custom Truck One Source, Inc. reported a quarterly loss of $0.07 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.03, and compared to earnings of $0.04 per share a year ago, indicating an earnings surprise of -133.33% [1] - The company posted revenues of $447.22 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 0.64%, and this represents an increase from year-ago revenues of $434.35 million [2] - Over the last four quarters, the company has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [2] Stock Performance - Custom Truck One Source shares have declined approximately 41.3% since the beginning of the year, while the S&P 500 has gained 22.3% [3] - The current Zacks Rank for the stock is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.04 on revenues of $564.8 million, and for the current fiscal year, it is -$0.13 on revenues of $1.85 billion [7] - The trend for estimate revisions ahead of the earnings release has been unfavorable, which could impact future stock performance [6] Industry Context - The Automotive - Original Equipment industry, to which Custom Truck One Source belongs, is currently ranked in the bottom 24% of over 250 Zacks industries, suggesting a challenging environment [8]

Table of Contents _______________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38186 _______________________________ CUSTOM TRUCK ONE ...

EXHIBIT 99.1 Custom Truck One Source, Inc. Reports Third Quarter 2024 Results and Updates Full-Year Guidance KANSAS CITY, Mo, October 30, 2024 – (BUSINESS WIRE) – Custom Truck One Source, Inc. (NYSE: CTOS), a leading provider of specialty equipment to the electric utility, telecom, rail, forestry, waste management and other infrastructurerelated end markets, today reported financial results for the three and nine months ended September 30, 2024. CTOS Third-Quarter Highlights • Total revenue of $447.2 millio ...

Custom Truck One Source, Inc. (NYSE:CTOS) Q2 2024 Earnings Conference Call August 2, 2024 5:00 PM ET Company Participants Brian Perman - VP, IR Ryan McMonagle - CEO Chris Eperjesy - CFO Conference Call Participants Justin Hauke - Robert W. Baird Tami Zakaria - JPMorgan Michael Shlisky - D.A. Davidson Brian Brophy - Stifel Nicole DeBlase - Deutsche Bank Operator Ladies and gentlemen, thank you for standing by and welcome to Custom Truck One Source's Second Quarter 2024 Earnings Conference Call. Please note, ...

Custom Truck One Source 2nd Quarter 2024 Investor Presentation August 1, 2024 CONFIDENTIAL DRAFT1 2 Safe Harbor This presentation includes certain financial measures that have not been prepared in a manner that complies with generally accepted accounting principles in the United States ("GAAP"), including, without limitation, Adjusted Gross Profit, Adjusted Gross Margin, EBITDA, Adjusted EBITDA and Pro Forma Adjusted EBITDA (collectively, the "non-GAAP financial measures"). These non-GAAP financial measures ...

Custom Truck One Source, Inc. (CTOS) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -900%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced a loss of $0.06, delivering a surprise of -500%. Over the last four quarters, the co ...

Table of Contents _______________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38186 _______________________________ CUSTOM TRUCK ONE SOURC ...

EXHIBIT 99.1 Custom Truck One Source, Inc. Reports Second Quarter 2024 Results and Updates Full-Year Guidance KANSAS CITY, Mo, August 1, 2024 – (BUSINESS WIRE) – Custom Truck One Source, Inc. (NYSE: CTOS), a leading provider of specialty equipment to the electric utility, telecom, rail, forestry, waste management and other infrastructurerelated end markets, today reported financial results for its three and six months ended June 30, 2024. CTOS Second-Quarter Highlights • Total revenue of $423.0 million, a d ...

The market expects Custom Truck One Source, Inc. (CTOS) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 1, 2024, might help the stock move higher if these k ...