Custom Truck One Source revenue jumps 8% in 2025

Vocational truck and heavy-equipment dealer Custom Truck One Source posted higher revenue in 2025, driven by strong construction activity and rental demand.

Custom Truck One Source (CTOS) is poised for continued growth in 2026 after offloading more than $100 million of inventory in the fourth quarter, Chief Executive Ryan McMonagle stated in the company’s Q4 earnings release today.

“We are optimistic about 2026, as CTOS is well-positioned to benefit from secular tailwinds driven by data center investments, electrification, infrastructure investment and utility grid upgrades, leading to another year of expected growth across our segments,” he said.

Kansas City, Mo.-based CTOS reported the following full-year results:

• Total revenue increased 7.9% year over year to $1.9 billion;
• Equipment sales rose 6.7% YoY to $1.3 billion;
• Aftermarket parts and service revenue fell 2.2% YoY to $133.3 million;
• Rental revenue jumped 14.3% YoY to $506.2 million; and
• Fleet utilization rate landed at 79.4%, up from 74.3% in 2024.

The company projects revenue to increase 3% to 9% in 2026, according to the release.

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