Custom Truck One Source, Inc. — Third Quarter 2026 Earnings Summary

Custom Truck One Source, Inc. reported record third-quarter 2026 results with revenue reaching $495.2 million and Adjusted EBITDA increasing 15.6% to $110.9 million. The company raised its full-year 2026 Adjusted EBITDA guidance to a range of $447.5 million to $460 million and increased SER segment revenue guidance to $870 million–$890 million due to strong demand in transmission and distribution markets. Net leverage ratio improved to 3.70x while the rental fleet's original equipment cost on rent grew to a record $1.76 billion. Management attributes the growth to grid modernization, electrification, and data center infrastructure trends, with a strategic focus on profitable fleet expansion expected to yield significant earnings in 2027.