Custom Truck One Source(US:CTOS)2024-03-07 22:06Financial Performance - Full year 2023 revenue reached $1865 million, a 19% increase compared to 2022[10] - Adjusted Gross Profit for 2023 was $625 million, up 13% from 2022[10] - Adjusted EBITDA for 2023 totaled $427 million, a 9% increase year-over-year[6, 10] - Q4 2023 revenue was $522 million, marking a record quarterly revenue[11] Business Segments - Equipment Rental Solutions (ERS) revenue increased by 10% compared to 2022[10] - Truck & Equipment Sales (TES) revenue increased significantly by 29% compared to 2022[10] - Aftermarket Parts & Service (APS) revenue saw a 5% increase compared to 2022[10] - TES new sales backlog stands at $689 million, representing just over 8 months of production[22] Market Dynamics and Outlook - The company anticipates revenue between $2 billion and $218 billion for 2024, representing growth of 7% to 17%[70] - Adjusted EBITDA is projected to be between $440 million and $470 million in 2024, indicating growth of 3% to 10%[70] - The company's fleet OEC (Original Equipment Cost) is $146 billion[8]