Custom Truck One Source : First Quarter 2025 Earnings Presentation

Published: 2025-05-01 10:25:05 ET CTOS

Published on 05/01/2025 at 10:25

1st Quarter 2025 Investor Presentation

1

April 30, 2025

CTOS at a Glance

Leading Integrated Provider of

Specialty Equipment

$1.81B+

LTM Revenue1

$336M

LTM Adj. EBITDA1,2

New Location

Coming June 2025

•

10,000+

Fleet Units1

40

Locations4

•

True "One-Stop-Shop" platform,

focused on rental and sales

Deep product knowledge and truck expertise

2,600+

Employees1

$1.55B

Fleet OEC3

Strong track record of consistent growth

End Market & Business Mix

Favorable end markets with positive tailwinds

Proven integration experience and operational focus

Nationwide footprint, with recent expansion in underserved regions

Established track record of conservative balance sheet management and de-levering

End Market5

Revenue1

Rental Fleet OEC1

As of, or for the twelve-month period ended, March 31, 2025.

Adjusted EBITDA is a non-GAAP measure. Please refer to the supplemental information provided in the Appendix for reconciliations to the most comparable GAAP measure.

OEC represents the original equipment cost exclusive of the effect of purchase accounting adjustments applied to rental equipment acquired in business combinations and any rental equipment held for sale. As of March 31, 2025.

Excludes third-party service locations. As of April 30, 2025. 3

Based on FY24.

Q1 2025 - Off to a Solid Start

Strong fundamentals continue across all end market and product categories

Revenue of $422M

ERS: $154M - Rental KPIs continue strong recovery from H2 '24

TES: $232M - Strong order flow and backlog growth

APS: $35M - Benefitting from improved utility end-market demand

Adjusted Gross Profit(1)of $136M

Adjusted EBITDA(1)of $73M

Continue to benefit from previous years' strategic inventory investment

Supports continued strong demand for new equipment sales for TES

Catalyst for further investment in our ERS fleet in 2025, particularly for specialty vocational trucks that service the Infrastructure end market

Focused on tariff mitigation strategies

Will benefit from current inventory levels

Working with vendors to minimize the impact form potential tariffs through a variety of efforts, including a tactical investment in inventory in Q1 '25

ERS rental fleet of over 10,000 vehicles and $1.55B of OEC continues to be a strong hedge to meet our customers' equipment needs

(1) Adjusted Gross Profit and Adjusted EBITDA are non-GAAP measures. Refer to the supplemental information provided in the Appendix for reconciliations to the most comparable GAAP measures. 4

Unique Business Model = Strong Value Creation

Attractive end markets with long-term secular growth drivers

Infrastructure Bill and Inflation Reduction Act further supercharge end-market tailwinds

Differentiated one-stop shop business model with strong unit economics for rent or buy

Best-in-class asset level returns: High-teens Rental Asset ROICs and New Sales margins of 15%-18%

Market leading specialty rental fleet of over 10,000 vehicles and $1.55B of OEC

Demonstrated ability to grow with our customers and win new logos

Nationwide footprint provides superior customer service and operating flexibility

40 branches with more than 300 technicians, with ability to expand further

CTOS/Nesco combination created multiple operating synergy opportunities and scale benefits

Improved operating and production efficiency with increased scale resulting in enhanced vendor relationships

Value creation for shareholders

Solid balance sheet and prudent capital investment strategy

Financial flexibility to both reduce leverage and invest for growth

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Disclaimer

Custom Truck One Source Inc. published this content on May 01, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 01, 2025 at 14:24 UTC.