Custom Truck One Source, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
March 08, 2024 at 02:50 am IST
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Custom Truck One Source, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 478.91 million compared to USD 464.04 million a year ago. Revenue was USD 1,865.1 million compared to USD 1,573.09 million a year ago.
Net income was USD 50.71 million compared to USD 38.91 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.16 a year ago.
Custom Truck One Source, Inc. is a provider of specialty equipment, parts, tools, accessories and services to the electric utility transmission and distribution, telecommunications and rail markets in North America. The Company offers its specialized equipment to a diverse customer base for the maintenance, repair, upgrade and installation of critical infrastructure assets. Its segments include Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS). ERS segment owns a range of new and used specialty equipment, including truck-mounted aerial lifts, cranes, service trucks, dump trucks, trailers, digger derricks and other machinery and equipment. TES segment offers a variety of new equipment for sale to be used across its end-markets. APS segment includes the sale of specialized aftermarket parts, including captive parts related to its Load King brand, used in the maintenance and repair of the equipment the Company sells and rents.