Custom Truck One Source | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 482.06 M

LB filings
2025.10.27 20:13
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Revenue: As of FY2025 Q3, the actual value is USD 482.06 M, missing the estimate of USD 492.42 M.

EPS: As of FY2025 Q3, the actual value is USD -0.03, missing the estimate of USD -0.0241.

EBIT: As of FY2025 Q3, the actual value is USD 33.5 M.

Financial Data and Outlook Summary

Segment Revenue

  • Equipment Rental Solutions (ERS): Revenue details not provided in the reference.
  • Truck and Equipment Sales (TES): Revenue details not provided in the reference.
  • Aftermarket Parts and Services (APS): Revenue details not provided in the reference.

Operational Metrics

  • Net Income: Not specified in the reference.
  • Gross Margin: Not specified in the reference.
  • Operating Profit: Not specified in the reference.
  • Operating Margin: Not specified in the reference.
  • Operating Costs: Not specified in the reference.

Cash Flow

  • Operating Cash Flow: Not specified in the reference.
  • Free Cash Flow: Not specified in the reference.

Unique Metrics

  • Company-Specific Financial Indicators: Not specified in the reference.

Outlook / Guidance

  • Outlook / Guidance: Not specified in the reference.

Equipment Rental Solutions (ERS) Segment

  • Rental Revenue: $123.9 million for Q3 2025, up from $105.3 million in Q3 2024.
  • Total Revenue: $169.1 million for Q3 2025, up from $150.9 million in Q3 2024.
  • Gross Profit: $50.3 million for Q3 2025, up from $42.5 million in Q3 2024.
  • Adjusted Gross Profit: $104.3 million for Q3 2025, up from $87.5 million in Q3 2024.
  • Cost of Rental Revenue: $30.4 million for Q3 2025, up from $29.4 million in Q3 2024.
  • Depreciation of Rental Equipment: $54.1 million for Q3 2025, up from $45.0 million in Q3 2024.

Truck and Equipment Sales (TES) Segment

  • Equipment Sales: $275.4 million for Q3 2025, up from $259.9 million in Q3 2024.
  • Total Revenue: $275.4 million for Q3 2025, up from $259.9 million in Q3 2024.
  • Gross Profit: $41.4 million for Q3 2025, down from $41.9 million in Q3 2024.
  • Cost of Equipment Sales: $234.0 million for Q3 2025, up from $218.0 million in Q3 2024.

Aftermarket Parts and Services (APS) Segment

  • Rental Revenue: $3.2 million for Q3 2025, up from $3.0 million in Q3 2024.
  • Parts and Services Revenue: $34.3 million for Q3 2025, up from $33.4 million in Q3 2024.
  • Total Revenue: $37.5 million for Q3 2025, up from $36.4 million in Q3 2024.
  • Gross Profit: $9.1 million for Q3 2025, up from $7.4 million in Q3 2024.
  • Cost of Revenue: $28.4 million for Q3 2025, down from $29.0 million in Q3 2024.

Consolidated Financial Metrics

  • Total Revenue: $482.1 million for Q3 2025, up from $447.2 million in Q3 2024.
  • Gross Profit: $100.8 million for Q3 2025, up from $91.8 million in Q3 2024.
  • Adjusted Gross Profit: $155.5 million for Q3 2025, up from $137.8 million in Q3 2024.
  • Net Loss: -$5.8 million for Q3 2025, improved from -$17.4 million in Q3 2024.
  • Adjusted EBITDA: $96.0 million for Q3 2025, up from $80.2 million in Q3 2024.
  • Operating Income: $32.6 million for Q3 2025, up from $23.0 million in Q3 2024.
  • Operating Expenses: $68.1 million for Q3 2025, down from $68.8 million in Q3 2024.
  • Interest Expense: $26.5 million for Q3 2025, down from $27.2 million in Q3 2024.
  • Cash and Cash Equivalents: $13.1 million as of September 30, 2025, up from $3.8 million as of December 31, 2024.
  • Total Debt Outstanding: $1,666.4 million as of September 30, 2025.
  • Net Debt: $1,653.3 million as of September 30, 2025.
  • Net Leverage Ratio: 4.53x as of September 30, 2025.
  • Operating Cash Flow: $262.8 million for the nine months ended September 30, 2025, up from $39.9 million for the same period in 2024.
  • Free Cash Flow: -$233.8 million for the nine months ended September 30, 2025, down from -$164.9 million for the same period in 2024.

Outlook / Guidance

  • 2025 Consolidated Revenue Guidance: $1,970 million to $2,060 million.
  • 2025 Adjusted EBITDA Guidance: $370 million to $390 million.
  • ERS Segment Revenue Guidance: $660 million to $690 million.
  • TES Segment Revenue Guidance: $1,160 million to $1,210 million.
  • APS Segment Revenue Guidance: $150 million to $160 million.
  • The company expects to invest up to an additional net $50 million in its rental fleet this year, resulting in at least high-single digit fleet growth (based on net OEC) this year. The company also expects to reduce its inventory by $125 million to $150 million compared to the level at the end of last year.
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