Custom Truck One Source(US:CTOS)2025-04-30 21:35Financial Performance - Q1 2025 - Revenue reached $422 million[19], with Equipment Rental Solutions (ERS) contributing $154 million[19], Truck & Equipment Sales (TES) $232 million[19], and Aftermarket Parts & Service (APS) $35 million[19] - Adjusted Gross Profit was $136 million[19] - Adjusted EBITDA amounted to $73 million[19] Segment Analysis - Q1 2025 - ERS revenue increased by 13% to $154 million[19], with rental revenue up 9% to $113 million[42] and rental sales up 26% to $41 million[42] - TES revenue decreased by 3% to $232 million[49], but net orders surged by 220% compared to Q1 2024, reaching $284 million[50] - APS revenue remained flat at $35 million[52] Fleet and Utilization - Q1 2025 - The company's rental fleet consists of over 10,000 vehicles with an original equipment cost (OEC) of $1.55 billion[19] - Average utilization for Q1 2025 was just under 78%[48], with OEC on Rent increasing by $137 million compared to Q1 2024[48] Outlook and Strategy - The company reaffirms its 2025 outlook, projecting consolidated revenue between $1.97 billion and $2.06 billion, representing a 9%-14% growth[58], and Adjusted EBITDA between $370 million and $390 million, also a 9%-15% increase[58] - The company anticipates net OEC to increase by a mid-single-digit percentage in 2025, with gross rental capex between $375 million and $400 million[58] - The company expects to reduce inventory later in 2025 and generate $50 million to $100 million of levered free cash flow[58]