Custom Truck One Source, Inc. — Form 8-K
Filed October 26, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 68/100
What the filing says
Custom Truck One Source reported Q3 2026 revenue of $495.2M (up 2.7% YoY) with rental revenue up 20.1%. Record average OEC on rent of $1.39B and fleet utilization of 81.5% drove Q3 Adjusted EBITDA of $110.9M (up 15.6% YoY). Company raised full-year 2026 Adjusted EBITDA guidance to $447.5M–$460M (from $437.5M–$455M), SER segment revenue to $870M–$890M (from $850M–$875M), and increased net rental fleet investment to $210M–$230M. Net leverage improved to 3.70x from 4.31x year-end 2025.
Why this rating
Strong operational momentum and third guidance raise within company's $291M market cap; 17–20% Adjusted EBITDA growth meaningful but levered FCF turned slightly positive (down from $50M+) due to fleet investment. Execution risk remains.
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