On August 8, 2023, CUSTOM TRUCK ONE SOURCE ($NYSE:CTOS) announced its earnings results for the second quarter of fiscal year 2023, ending June 30, 2023. Despite total revenue rising to USD 456.8 million, a 26.2% increase on the same quarter from the previous year, net income decreased by 14.8%, amounting to USD 11.6 million.
The stock opened at $6.6 and closed at the same price at the end of trading, a decrease of 1.8% from their last closing price of 6.7. This marks a slight decline compared to the positive figures that were seen in their first quarter report. This was in line with the company’s expectations and was largely driven by strong demand for their products and services. In the company’s conference call with investors, management highlighted their focus on customer service and delivery performance as the primary drivers of their success during the quarter.
They also noted that they are continuing to invest in technology to increase their efficiency and reduce costs. With a strong balance sheet and healthy cash flow, CUSTOM TRUCK ONE SOURCE remains well-positioned to continue to drive growth in the future. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for CTOS. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CTOS. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CTOS. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for CTOS are shown below. More…
Income Statement Ratios
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At GoodWhale, we conducted an analysis of CUSTOM TRUCK ONE SOURCE’s wellbeing. We found that its Risk Rating is high, meaning that it poses a high risk in terms of financial and business aspects. Upon further investigation of their income sheet and balance sheet, we detected two risk warnings. We recommend that our clients take caution when making an investment in CUSTOM TRUCK ONE SOURCE. To learn more about these risks, please become a registered user of GoodWhale. More…
Risk Rating Analysis
Star Chart Analysis
The company has a strong competitive position in the market, with a wide range of products and services. Custom Truck One Source Inc is a publicly traded company on the New York Stock Exchange under the ticker symbol CUST.
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CUSTOM TRUCK ONE SOURCE reported its second quarter earnings for fiscal year 2023 on August 8th, which showed total revenue of USD 456.8 million, an increase of 26.2% year-over-year. Net income decreased 14.8% in comparison to the same quarter of the prior year, coming in at USD 11.6 million. This could be concerning for investors looking to invest in CUSTOM TRUCK ONE SOURCE, as increasing revenue but lower profits can be a sign of weak efficiency. Investors should keep a close watch on the company’s future earnings reports to determine if the decline is temporary or a larger signal of financial trouble.