Custom Truck One Source, Inc. has recently released its 10-Q report, providing a detailed look into the company's financial condition and operations. Custom Truck One Source, Inc. specializes in providing specialty equipment rental and sale services to various industries, including electric utility transmission and distribution, telecommunications, rail, forestry, and waste management in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). The ERS segment owns new and used specialty equipment, the TES segment offers new equipment for sale, and the APS segment provides maintenance and repair services as well as specialized tools and aftermarket parts.
In the Management’s Discussion and Analysis of Financial Condition and Results of Operations, Custom Truck One Source, Inc. provides a comprehensive overview of the company's financial and performance measures. The report includes key financial measures such as revenue, cost of rental revenue, depreciation of rental equipment, cost of equipment sales, selling, general and administrative expenses, amortization and non-rental depreciation, transaction expenses and other, financing and other expense (income), interest expense, and income tax expense (benefit). Additionally, the report outlines important operating metrics used by the company to evaluate its performance, including ending original equipment cost (OEC), average OEC on rent, fleet utilization, and OEC on rent yield.
Furthermore, the report details the company's operating segments, namely the Equipment Rental Solutions (ERS) Segment, Truck and Equipment Sales (TES) Segment, and Aftermarket Parts and Services (APS) Segment. It provides insight into the activities within each segment, including the composition of the rental fleet, sale of new and used specialty equipment, and the provision of maintenance and repair services.
The 10-Q report also includes a detailed list of risk factors applicable to the company, emphasizing potential challenges and uncertainties that could materially affect the forward-looking statements and projections. These risk factors include increases in labor costs, competition in the equipment dealership and rental industries, disruptions in the supply chain, regulatory changes, and the company's significant indebtedness, among others.
Today the company's shares have moved 1.2% to a price of $4.9. Check out the company's full 10-Q submission here.
