Shares of Custom Truck One Source Inc (CTOS) plummeted 9.57% in pre-market trading on Tuesday following the release of its third-quarter earnings report. The company, which specializes in truck and heavy equipment solutions, reported results that fell short of analyst expectations, leading to a significant sell-off.

Custom Truck One Source reported a quarterly adjusted loss of 3 cents per share for the quarter ended September 30, missing the mean analyst estimate of a 2-cent loss. This marks the fourth consecutive quarter the company has failed to meet earnings expectations. Revenue for the quarter rose 7.8% year-over-year to $482.06 million, but still fell short of the $492.12 million forecast by analysts. The company's bottom line showed a quarterly loss of $5.76 million.

Despite the current setback, Custom Truck One Source had seen its shares rise by 5.0% over the past quarter and gain 40.1% year-to-date before this earnings release. Wall Street maintains a generally positive outlook on the stock, with the current average analyst rating being "buy" and a median 12-month price target of $8.00, representing a potential 15.7% upside from its last closing price. However, investors will likely be closely watching the company's performance in the coming quarters to see if it can reverse the trend of missed earnings estimates.