Custom Truck misses Q3 revenue expectations, reaffirms 2025 revenue forecast

Reuters
10/28
Custom Truck misses Q3 revenue expectations, reaffirms 2025 revenue forecast

Overview

  • Custom Truck Q3 revenue grows 7.8% yr/yr but misses analyst expectations

  • Adjusted EBITDA for Q3 beats estimates, increasing by 19.6% yr/yr

  • Company reaffirms 2025 revenue and Adjusted EBITDA guidance

Outlook

  • Custom Truck reaffirms 2025 revenue guidance of $1.97 bln to $2.06 bln

  • Company expects double-digit growth in 2025 revenue and adjusted EBITDA

  • Custom Truck plans additional $50 mln investment in rental fleet

Result Drivers

  • CORE UTILITY MARKETS - Strong demand in core utility markets drove revenue growth, per CEO Ryan McMonagle

  • ERS SEGMENT GROWTH - Significant growth in average OEC on rent and fleet utilization in ERS segment contributed to revenue increase

  • VOCATIONAL VEHICLE DEMAND - Robust demand for vocational vehicles boosted TES segment revenue by 6%

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$482.10 mln

$492.12 mln (6 Analysts)

Q3 Net Income

-$5.80 mln

Q3 Adjusted EBITDA

Beat

$96 mln

$93.19 mln (6 Analysts)

Q3 Adjusted Gross Profit

$155.50 mln

Q3 Gross Profit

$100.80 mln

Press Release: ID:nBw3HVfbga

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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