Custom Truck One Source, Inc. (NYSE:CTOS) reported its Q1 earnings result, with EPS of $0.06 coming in better than the Street estimate of $0.03. Revenue was $452.2 million, beating the Street estimate of $393.41 million.
The company highlighted demand remains strong and alluded to meaningful continuing improvements in the supply chain.
Q1/23 Equipment Rental Solutions (ERS) segment revenue grew 25% year-over-year as utilization/equipment on rent/rental yield all improved via strong demand. Q1 Truck and Equipment Sales (TES) segment revenue grew 25% year-over-year as supply chain constraints waned and backlog increased 46% year-over-year.