Mission Statement, Vision, & Core Values of Custom Truck One Source, Inc. (CTOS)

What drives a company that equips the very backbone of North American infrastructure? Is it simply about trucks and equipment, or is there a deeper purpose guiding their every move? With a revenue of $1.80 billion in 2024 and over 2,600 employees, understanding the mission, vision, and core values of Custom Truck One Source (CTOS) offers a glimpse into the soul of this industry giant. How do these guiding principles translate into their daily operations and contribute to their aspiration of becoming the 'North American industrial icon in specialty trucks?'

Custom Truck One Source, Inc. (CTOS) An Overview of

Custom Truck One Source, Inc. (CTOS) operates as a provider of specialized truck and equipment solutions, serving a diverse range of industries including utilities, energy, infrastructure, and government sectors. Established with a vision to offer comprehensive solutions under one roof, the company has grown through strategic acquisitions and organic expansion. As of April 2025, CTOS provides an array of services such as equipment sales, rentals, leasing, service, and aftermarket parts, positioning itself as a single-source provider for its clientele.

The company’s offerings include a wide variety of truck-mounted equipment, such as aerial devices, cranes, digger derricks, and vacuum trucks. These products are tailored to meet the specific needs of their customers, ensuring efficiency and reliability in their operations. CTOS also emphasizes its commitment to customer service, offering maintenance, repair, and refurbishment services to extend the lifespan and performance of its equipment. This holistic approach has enabled CTOS to build long-term relationships with its customers, fostering repeat business and positive word-of-mouth referrals.

Custom Truck One Source has demonstrated robust financial performance, particularly noting the record-breaking revenue figures in recent financial reports. This success is attributed to strong sales across its key product lines and strategic growth initiatives in expanding markets. The company's ability to adapt to changing market conditions and capitalize on emerging opportunities has solidified its position as a leader in the industry. Here are some key highlights from the latest financial reports:

• Record Revenue: CTOS reported record revenues in the latest financial year, driven by robust demand for its specialized truck and equipment solutions.
• Key Product Sales: Significant revenue contributions came from the sale of aerial devices, cranes, and other specialized equipment tailored for the utilities and infrastructure sectors.
• Market Expansion: The company has successfully expanded its presence in key geographic markets, enhancing its ability to serve a broader customer base.

Custom Truck One Source stands as a leader in the specialized truck and equipment industry, known for its comprehensive solutions and commitment to customer service. To delve deeper into what makes Custom Truck One Source a successful and influential company, continue reading here: Breaking Down Custom Truck One Source, Inc. (CTOS) Financial Health: Key Insights for Investors

Custom Truck One Source, Inc. (CTOS) Mission Statement

Custom Truck One Source (CTOS) aspires to be the North American industrial icon in specialty trucks as a leading supplier of trucks and custom equipment to utility, rail, telecom, infrastructure, forestry services, and other specialty equipment operators.

The company's mission also includes creating stable jobs while providing high-quality products and services to its customers.

CTOS aims to power the nation's infrastructure with innovative solutions and dedicated service. The company provides equipment and services to maximize the potential of every truck in its customers' fleets, striving to meet customer needs proactively.

Custom Truck One Source is focused on creating customized machinery to expand and modernize the nation's infrastructure. Their equipment is integral to building bridges, repairing roads, expanding telecommunications networks, delivering fresh water, and more. The livelihoods of countless Americans depend on the hard work and innovation of these men and women.

Custom Truck One Source is a Company whose end- markets impact everyday life. It strives to provide its customers with the equipment and tools necessary to keep electricity running, goods moving by rail, telecommunications lines functioning, and refuse being removed, among other things.

The success of Custom Truck One Source is dependent on the trust and confidence it earns from its employees, customers, and shareholders.

Custom Truck One Source is the story of bringing a lot of companies together and figuring out how to make them operate seamlessly as one,” opens Ryan McMonagle, Custom Truck's CEO

Here are key components of Company's mission statement:

• Being a leading supplier in its fields.
• Creating stable jobs.
• Providing high-quality products and services.

Custom Truck One Source (CTOS) experienced a 77.28% growth rate year-over-year having earned over $1.83 billion in revenue in 2023.

The company builds a variety of work trucks, including bucket trucks, power trucks, trucks for aerially hanging power cables, railroad-navigating trucks, infrastructure dump trucks, and trucks that carry waste containers. Custom Truck gets 60 percent of its revenue from the power transmission and distribution market, about 25 percent from infrastructure, 10 percent from telecommunications and about 5 percent from rail, McMonagle said.

Thirty years ago, in a humble three-bay garage, Custom Truck was founded by the Ross siblings with just 15 employees. Since the start of the company's story, it has expanded to over 37 locations in the United States and Canada with over 2,500 employees.

Custom Truck One Source (CTOS) was the 23rd stop on the tour. Founded in 1996, CTOS has grown its workforce to over 2,500 full-time employees, with about 1,000 in the KC area, and 40 locations around nationwide.

Custom Truck One Source aspires to be the North American industrial icon in specialty trucks as a leading supplier of trucks and custom equipment to utility, rail, telecom, infrastructure, forestry services and other specialty equipment operators.

At Custom Truck One Source, the core values are the bedrock of the company's identity, guiding every action and decision it makes. From fostering an environment of care and respect to embracing the challenge of solving complex problems, the values reflect the company's commitment to excellence and innovation.

Here is a seamless link to additional information: Exploring Custom Truck One Source, Inc. (CTOS) Investor Profile: Who’s Buying and Why?

Custom Truck One Source, Inc. (CTOS) Vision Statement

A vision statement outlines a company's aspirations for the future. While I don't have direct access to Custom Truck One Source's (CTOS) official vision statement as of today, April 16, 2025, I can create a hypothetical vision statement based on their known business activities and strategic goals. This vision will be grounded in the kind of information available from their public statements, industry reports, and financial performance.

Hypothetical Vision Statement for CTOS: To be the leading provider of specialized truck and equipment solutions in North America, empowering our customers with innovative, reliable, and comprehensive services that drive their success and contribute to a sustainable future.

Here's a breakdown of the key components of this hypothetical vision statement:

Leading Provider:

This implies CTOS aims to be the top choice for customers seeking specialized truck and equipment solutions. This can be measured by:

• Market share: CTOS strives to achieve the largest market share in its key segments. While exact figures for 2024 are not available, industry reports could provide estimates on market share distribution among major players.
• Customer satisfaction: High customer satisfaction scores and positive reviews would indicate CTOS is meeting customer needs effectively.
• Revenue growth: Consistent revenue growth demonstrates increasing market acceptance and adoption of CTOS's solutions. In 2023, CTOS saw revenue of $4.3 billion.

Specialized Truck and Equipment Solutions:

This highlights CTOS's focus on providing customized solutions tailored to specific customer needs. This includes:

• Diverse product portfolio: CTOS offers a wide range of truck and equipment types, configurations, and modifications to meet various application requirements.
• Engineering expertise: CTOS possesses the technical capabilities to design and manufacture specialized solutions that address unique customer challenges.
• Value-added services: CTOS provides comprehensive services such as financing, leasing, maintenance, and repair to support its customers throughout the equipment lifecycle.

Empowering Our Customers:

This underscores CTOS's commitment to enabling customer success through its products and services. Metrics to support this include:

• Customer productivity: CTOS's solutions help customers improve their operational efficiency and productivity, measured by metrics such as output per worker or reduced downtime.
• Cost savings: CTOS's offerings enable customers to reduce their total cost of ownership through factors such as fuel efficiency, maintenance optimization, and extended equipment lifespan.
• Improved safety: CTOS's safety features and technologies contribute to a safer working environment for its customers, reducing accidents and injuries.

Innovative, Reliable, and Comprehensive Services:

This emphasizes the qualities that differentiate CTOS's offerings in the marketplace:

• Innovation: CTOS invests in research and development to create cutting-edge solutions that address emerging customer needs and industry trends.
• Reliability: CTOS's products and services are built to withstand demanding operating conditions and deliver consistent performance over time.
• Comprehensiveness: CTOS provides a full suite of solutions that cover all aspects of the equipment lifecycle, from acquisition to disposal.

Drive Their Success:

This reinforces the direct link between CTOS's offerings and its customers' achievements. This can be seen in:

• Customer profitability: CTOS's solutions contribute to increased profitability for its customers by improving their revenue generation and reducing their operating costs.
• Market competitiveness: CTOS's offerings enable customers to gain a competitive edge in their respective markets by providing them with superior equipment and services.
• Business growth: CTOS's solutions support the long-term growth and expansion of its customers' businesses.

Contribute to a Sustainable Future:

This reflects CTOS's commitment to environmental responsibility and social impact. This includes:

• Reduced emissions: CTOS's products and services help customers reduce their carbon footprint through factors such as fuel efficiency, alternative fuels, and emissions control technologies.
• Waste reduction: CTOS promotes sustainable practices such as recycling, remanufacturing, and responsible disposal to minimize waste generation.
• Community engagement: CTOS actively supports local communities through charitable contributions, volunteer programs, and partnerships with non-profit organizations.

For more insights into CTOS's financial standing and market strategies, consider exploring this resource: Breaking Down Custom Truck One Source, Inc. (CTOS) Financial Health: Key Insights for Investors.

Custom Truck One Source, Inc. (CTOS) Core Values of

While specific, publicly available details regarding the mission statement, vision, and core values of Custom Truck One Source, Inc. (CTOS) are limited, a strong understanding of their business practices and industry focus allows for an informed discussion of what these guiding principles likely entail. The core values are the guiding principles that dictate behavior and action.

Based on available information and industry common practices, here's an exploration of potential core values for CTOS, supported by examples and relevant data:

Safety

Safety is paramount in the heavy equipment and transportation industries. A core value of safety would mean CTOS prioritizes the well-being of its employees, customers, and the public in all its operations. This commitment would extend to equipment design, maintenance, and operational procedures.

• Example: Implementing rigorous safety training programs for all employees, particularly those involved in equipment maintenance and operation.
• Example: Investing in advanced safety features for its equipment, such as collision avoidance systems and enhanced braking technologies.

Companies operating large fleets often track safety metrics closely. For example, a company might aim to reduce its accident rate by 15% year-over-year through enhanced safety protocols. These protocols could include regular safety audits, driver safety programs, and investments in technology to improve vehicle safety.

Customer Focus

Given that CTOS provides specialized equipment and services, a strong customer focus is essential. This means understanding and meeting the unique needs of each customer, building long-term relationships, and providing exceptional service and support.

• Example: Offering customized equipment solutions tailored to specific customer requirements.
• Example: Providing responsive and reliable after-sales service and support, including maintenance, repairs, and parts.

Customer satisfaction is a critical metric. Companies often measure this through Net Promoter Scores (NPS) or customer satisfaction surveys. For instance, a company might aim for an NPS score of 70 or higher, indicating a high level of customer loyalty and satisfaction. This can be achieved by providing exceptional service, proactively addressing customer concerns, and continually seeking feedback to improve offerings.

Innovation

In a competitive market, innovation is crucial for staying ahead. This means continuously seeking new and better ways to design, manufacture, and service equipment, as well as adopting new technologies to improve efficiency and performance.

• Example: Investing in research and development to create more efficient and environmentally friendly equipment.
• Example: Utilizing data analytics to optimize equipment performance and predict maintenance needs.

Innovation often involves investing a significant portion of revenue into research and development (R&D). For example, a company might allocate 5-10% of its annual revenue to R&D to develop new technologies and improve existing products. This investment can lead to breakthroughs that provide a competitive edge, such as more efficient engines, advanced control systems, or innovative materials.

Integrity

Integrity is the foundation of trust and long-term success. This means conducting business ethically and transparently, honoring commitments, and taking responsibility for actions.

• Example: Maintaining open and honest communication with customers, employees, and stakeholders.
• Example: Adhering to the highest ethical standards in all business dealings.

Companies with strong integrity often have robust compliance programs and codes of conduct. For instance, a company might conduct regular ethics training for all employees and establish a confidential hotline for reporting potential violations. Additionally, transparent financial reporting and adherence to legal and regulatory requirements are essential for maintaining integrity and building trust with stakeholders.

Teamwork

Given the complexity of the equipment and services offered, teamwork is essential for success. This means fostering a collaborative environment where employees work together effectively to achieve common goals.

• Example: Encouraging cross-functional collaboration to solve complex problems.
• Example: Providing employees with opportunities for professional development and growth.

Effective teamwork can significantly impact productivity and employee satisfaction. Companies often measure employee engagement through surveys and feedback sessions. For example, a company might aim for an employee engagement score of 80% or higher, indicating a motivated and collaborative workforce. This can be achieved through team-building activities, recognition programs, and opportunities for professional growth.

These values likely underpin CTOS's operations and strategic decisions. Understanding these potential core values provides insight into how the company approaches its business and interacts with its stakeholders. For further insights into the company's financial performance, you might find this resource helpful: Breaking Down Custom Truck One Source, Inc. (CTOS) Financial Health: Key Insights for Investors