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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Custom Truck One Source
Custom Truck One Source (CTOS) investor relations material
Custom Truck One Source Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 revenue was $495.2M, up 2.7% YoY; Adjusted EBITDA was $110.9M, up 15.6%, and net income was $2.3M versus a $5.8M loss.
Record rental demand drove 20.1% rental revenue growth, 81.5% fleet utilization and 39.4% on-rent yield.
FY2026 Adjusted EBITDA guidance increased to $447.5M–$460M; consolidated revenue guidance remains $2.10B–$2.20B.
Financial highlights
Q3 gross profit was $113.3M, up 12.4% YoY; Adjusted Gross Profit rose 9.4% to $170.2M.
Q3 operating income increased to $38.1M from $32.6M; net interest expense declined to $37.1M from $40.2M.
9M revenue was $1.52B versus $1.42B; net income was $8.6M versus a $51.9M loss, and Adjusted EBITDA was $325.7M versus $262.8M.
9M operating cash flow was $231.7M versus $262.8M; investing cash outflow was $232.9M versus $233.8M.
Outlook and guidance
FY2026 revenue guidance remains $2.10B–$2.20B, with Adjusted EBITDA guidance raised to $447.5M–$460M, implying 8%–13% and 17%–20% YoY growth, respectively.
SER revenue guidance rose to $870M–$890M; STEM revenue guidance remains $1.63B–$1.70B, with results expected toward the upper end of the range.
Net rental fleet investment guidance increased to $210M–$230M; 2026 levered free cash flow is expected to be slightly positive.
Q4 third-party STEM new sales are expected to grow at a mid-to-high-teens rate YoY as delayed deliveries ship; FY2026 growth guidance is 3%–10%.
Net leverage is expected meaningfully below 4x at FY-end; 2027 Adjusted EBITDA growth is expected to be double-digit, with a below-3x leverage target.
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Latest events from Custom Truck One Source
- Record Q2 2026 results and raised guidance reflect strong rental and equipment demand.CTOS
Q2 2026 - Scale, strong end-market demand, and operational flexibility drive growth and margin recovery.CTOS24th Annual Diversified Industrials & Services Conference
- Strong utility and infrastructure demand, rising backlog, and disciplined expansion drive growth.CTOSOppenheimer 20th Annual Industrial Growth Conference
- All director nominees and the auditor ratification proposal were approved with a quorum present.CTOSAGM 2026
- Strong demand, margin expansion, and backlog growth drive positive outlook through 2027.CTOSOppenheimer 21st Annual Industrial Growth Virtual Conference
- Shareholders will vote virtually on directors, auditor ratification, and performance-based executive pay.CTOSProxy filing
- Shareholders will vote on director elections and auditor ratification at the 2026 Annual Meeting.CTOSProxy filing
- Record Q1 revenue and EBITDA growth led to higher 2026 guidance and improved leverage.CTOSQ1 2026
- Record 2025 revenue and EBITDA set the stage for continued growth and deleveraging in 2026.CTOSQ4 2025
Next Custom Truck One Source earnings date
Q4 20264 Mar, 2027
Custom Truck One Source
Next Custom Truck One Source earnings date
Q4 20264 Mar, 2027
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Frequently asked questions
Custom Truck One Source Inc provides equipment rental, sales, and servicing solutions for the utility, telecom, rail, and infrastructure sectors. The company offers a fleet of specialized trucks and related parts, with integrated engineering, customization, and logistics support. The company is headquartered in Kansas City, Missouri, and its shares are listed on the NYSE.