Yahoo Finance Custom Truck One Source (CTOS) Reports Earnings Tomorrow: What To Expect
Truck and heavy equipment distributor Custom Truck One Source (NYSE:CTOS) will be announcing earnings results tomorrow after market close. Here's what to expect.
Custom Truck One Source missed analysts' revenue expectations by 9.8% last quarter, reporting revenues of $411.3 million, down 9% year on year. It was a weak quarter for the company, with a miss of analysts' revenue and earnings estimates.
Is Custom Truck One Source a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Custom Truck One Source's revenue to be flat year on year at $456.2 million, slowing from the 26.2% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.03 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Custom Truck One Source has missed Wall Street's revenue estimates three times over the last two years.
Looking at Custom Truck One Source's peers in the specialty equipment distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. United Rentals delivered year-on-year revenue growth of 6.2%, meeting analysts' expectations, and H&E Equipment Services reported revenues up 4.5%, falling short of estimates by 1.5%. United Rentals traded up 5.4% following the results.
Read our full analysis of United Rentals's results here and H&E Equipment Services's results here.
There has been positive sentiment among investors in the specialty equipment distributors segment, with share prices up 9.4% on average over the last month. Custom Truck One Source is up 18.6% during the same time and is heading into earnings with an average analyst price target of $7.1 (compared to the current share price of $4.98).
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