News & Events zu Custom Truck One Source Inc (CTOS)CTOSCustom Truck One Source Inc

Nasdaq and S&P 500 Bounce Back as Anthropic IPO Revives Investor Optimism

Nasdaq Composite and S&P 500 bounced after two consecutive losing sessions, as the S-1 pre-IPO filing by Anthropic revived investor optimism in the AI trade.  Technology - bolstered by pro-AI spaces like semiconductors, computer hardware, equipment, and communication  stocks - was the best-performing sectors in the S&P 500.  After a 20% decline over the past three weeks, iShares Semiconductors ETFended the day up 3%, though the Software ETF (IGV) was also higher by 0.7%, gaining for the second straight day.   Among the notable decliners on Monday, an equity offering out of Metaweighed on the stock by about 2%, while a revenue miss by Verizonsaw the stock sell off by over 3%.  Overall, Communication Services was by far the worst-performing sector in the S&P 500 index.In the opening hour of the evening session, S&P e-Minis and Nasdaq 100 contracts are both down by 0.1%.  In commodities, WTI crude oil futures are down slightly, with energy markets somewhat less on edge as fears of renewed strikes on Iran have not materialized.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Celesticaup 16.2%Hawkinsup 10.8%JetBlue Airwaysup 10.1%AudioEyeup 7.8%Amkor Technologyup 3.4%Cadence Design Systemsup 2.7%DOWN AFTER EARNINGS -Whirlpooldown 8.5%Custom Truck One Sourcedown 8.5%Clearwater Paperdown 7.3%Brown & Browndown 3.6%Rambusdown 1.9%

CTOS Reports Q3 Revenue of $495.2M, Raises Adjusted EBITDA Outlook

Reports Q3 revenue $495.2M, consensus $516.49M. "In the third quarter, record demand across our core T&D markets drove 16% year-over-year Adjusted EBITDA growth and 24% growth year to date, and we are raising our full-year Adjusted EBITDA outlook for the third time this year. Our SER segment continued to benefit from strong utility end-market demand, with our rental fleet generating a record quarterly average OEC on rent of nearly $1.4 billion and average utilization of 81.5%. We also ended the quarter with record total OEC of $1.76 billion, providing strong visibility into continued SER growth through the fourth quarter and into 2027," said Ryan McMonagle, Chief Executive Officer of CTOS. "In STEM, orders grew 22% year-over-year and backlog reached $342 million, and the third-party deliveries that shifted out of the quarter are scheduled to ship in the fourth quarter. Our earnings growth also drove a further meaningful reduction in net leverage, to 3.70x. As we look to the remainder of 2026 and beyond, CTOS is well positioned to participate in powerful secular trends, including utility grid upgrades and transmission expansion, electrification, data center-driven load growth, and infrastructure spending. We remain disciplined in executing our strategy, with a focus on profitable growth, strategic capital deployment, free cash flow generation, and continued deleveraging. Increasing our investment in the rental fleet reflects that discipline as we put capital behind visible, long-duration transmission demand at attractive returns, with the larger earnings benefit arriving in 2027."

Raises FY26 Adjusted EBITDA Outlook to $447.5M-$460M

Raises FY26 adjusted EBITDA view $447.5M-$460M from $437.5M-$455M.