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Custom Truck One Source (CTOS)

The Company is a leading provider of specialized truck and heavy equipment solutions to the utility, telecommunications, rail and infrastructure markets in North America. The Company's solutions include rentals, sales, aftermarket parts, tools, accessories and service, equipment production, manufacturing, financing solutions, and asset disposal. With vast equipment breadth, the Company's team of experts service its customers across an integrated network of locations across North America.

Company profile

Ticker
CTOS, CTOS-WT
Exchange
CEO
Lee Jacobson
Employees
Incorporated
Location
Fiscal year end
Former names
Capitol Investment Corp. IV, NESCO HOLDINGS, INC.
SEC CIK
Subsidiaries
Capitol Intermediate Holdings, LLC • Capitol Investment Merger Sub 2, LLC • NESCO Holdings • NESCO, LLC • NESCO Finance Corporation • NESCO International, LLC • NESCO Investments, LLC • NESCO El Alquiler S. de R.L. de C.V. • CTOS Blocker GP I L.L.C. • CTOS Blocker GP II L.L.C. ...

CTOS stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$10.50
Low target
$10.00
High target
$11.00
Deutsche Bank
Maintains
Buy
$10.00
14 Apr 22
Citigroup
Maintains
Buy
$11.00
13 Apr 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 23.81M 23.81M 23.81M 23.81M 23.81M 23.81M
Cash burn (monthly) 4.03M (no burn) (no burn) 10.32M 9.92M (no burn)
Cash used (since last report) 11.57M n/a n/a 29.62M 28.48M n/a
Cash remaining 12.24M n/a n/a -5.81M -4.67M n/a
Runway (months of cash) 3.0 n/a n/a -0.6 -0.5 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 May 22 Mark Ein Common Stock Buy Acquire P No No 5.7934 50,000 289.67K 1,415,534
13 May 22 Barrett Raymond Todd Common Stock Buy Acquire P No No 5.67 5,000 28.35K 9,403
13 May 22 Mark Ein Common Stock Buy Acquire P No No 5.91 351,903 2.08M 1,365,534
13 May 22 Marshall Heinberg Common Stock Buy Acquire P Yes No 5.68 20,000 113.6K 85,000
13 May 22 Marshall Heinberg Common Stock Buy Acquire P No No 5.68 20,000 113.6K 159,537
29 Apr 22 Mark Ein RSU Common Stock Grant Acquire A No No 0 14,315 0 14,315
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Risks
  • Effective management of our rental equipment is vital to our business and inability to obtain raw materials, component parts and/or finished goods in a timely and cost-effective manner would adversely affect our ability to manufacture and market our products.
  • A small portion of our workforce is unionized, and more of our workforce could become unionized in the future, which could negatively impact the stability of our production, materially reduce our profitability and increase the risk of work stoppages.
  • We may not be able to attract and retain skilled technicians, which could have a material adverse effect on our ability to meet customer demand.
  • A material disruption to our operation and manufacturing locations could adversely affect our ability to generate revenue.
  • The cost of new equipment that we purchase for use in our rental fleet or for our sales inventory may increase, and the aging or obsolescence of our existing equipment, and the fluctuation of the market value thereof, could have a material adverse affect on our results of operations.
  • Our business is highly dependent on the timely and sufficient delivery of finished goods, such as commercial vehicles, from our suppliers.
  • Integration of the Nesco and the Custom Truck LP businesses may be difficult, costly and time-consuming, and the anticipated benefits and cost savings of the Acquisition may not be realized or may be less than expected.
  • Platinum owns the majority of our equity, and its interests may not be aligned with yours.
  • We have, and may incur, significant indebtedness and may be unable to service our debt. This indebtedness could adversely affect our financial position, limit our available cash and our access to additional capital and prevent us from growing our business.
  • To service our indebtedness, we will require a significant amount of cash. Our ability to generate cash depends on many factors, some of which are beyond our control. An inability to service our indebtedness could lead to a default under the Indenture or ABL Credit Agreement, which may result in an acceleration of our indebtedness.
  • The Indenture and the ABL Credit Agreement impose significant operating and financial restrictions on our company and our subsidiaries, which may prevent us from capitalizing on business opportunities.
  • Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
  • The phase-out of LIBOR, and uncertainty as to its replacement, may adversely affect our business.
  • Disruptions or security compromises affecting our information technology systems or those of our critical service providers could adversely affect our operating results by subjecting us to liability, and limiting our ability to effectively monitor and control our operations, adjust to changing market conditions, or implement strategic initiatives.
Management Discussion
  • Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Any statements made in this report that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and should be evaluated as such. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. As you read and consider this report, you should understand that these statements are not guarantees of performance or results and are subject to and involve risks, uncertainties and assumptions. You should not place undue reliance on these forward-looking statements or projections. Below is a summary of risk factors applicable to us that may materially affect such forward-looking statements and projections:
  • •the phase-out of LIBOR and uncertainty as to its replacement.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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