CUSTOM TRUCK ONE SOURCE Reports Second Quarter Earnings Results for FY2023
August 10, 2023
🌥️Earnings Overview
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.
Share Price
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
Income Snapshot
Below shows the total revenue, net income and net margin for CTOS. More…
| Total Revenues | Net Income | Net Margin |
| 1.75k | 53.97 | 4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CTOS. More…
| Operations | Investing | Financing |
| 66.23 | -229.14 | 178.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CTOS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.14k | 2.22k | 3.74 |
Key Ratios Snapshot
Some of the financial key ratios for CTOS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 61.8% | 46.7% | 9.8% |
| FCF Margin | ROE | ROA |
| -20.4% | 11.7% | 3.4% |
Analysis
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…
Peers
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.
– H&E Equipment Services Inc ($NASDAQ:HEES)
H&E Equipment Services is a leading provider of equipment services and solutions for a wide range of industries, including construction, mining, oil and gas, government, and power generation. The company has a market cap of 1.49B as of 2022 and a return on equity of 35.46%. H&E Equipment Services provides a wide range of services, including equipment rental, sales, and maintenance, to its customers. The company has a strong focus on customer service and provides a wide range of support services to its customers.
– Babylon Pump & Power Ltd ($ASX:BPP)
Babylon Pump & Power Ltd is a market leader in providing pump and power solutions. The company has a strong focus on customer service and providing high quality products. The company has a market capitalization of 12.29M as of 2022 and a return on equity of -43.24%. The company’s products are used in a wide range of industries, including mining, construction, agriculture, and manufacturing.
– Triton International Ltd ($NYSE:TRTN)
Triton International Ltd is a leading provider of containers and related services. The company has a market cap of 3.83B as of 2022 and a return on equity of 15.89%. Triton International Ltd is a publicly traded company listed on the New York Stock Exchange. The company was founded in 2006 and is headquartered in Hamilton, Bermuda. Triton International Ltd is a leading provider of intermodal transportation equipment and services with a focus on container leasing and sales, depot services, container trucking, and related logistics services.
Summary
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.
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