Nesco Holdings, Inc to Become Custom Truck One Source, Inc , Change Ticker Symbol to CTOS prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Fourth Quarter Highlights
- Total revenue increased 7.8% to $83.3 million
- Equipment Rental and Sales (ERS) segment revenue increased 7.3% to $65.2 million
- Parts, Tools and Accessories (PTA) segment revenue increased 9.6% to $18.0 million
- Adjusted EBITDA decreased 9.2% to $32.3 million
- Net loss of $7.3 million compared to net income of $3.1 million
- Free cash flow increased to $28.5 million from negative $2.6 million
- Announced acquisition of Custom Truck to create industry-leading specialty equipment rental platform with a combined fleet of 8,800 units and more than $1.3 billion in original equipment cost
Full Year 2020 Highlights
- Total revenue increased 14.7% to $302.7 million
- Equipment Rental and Sales (ERS) segment revenue increased 9.1% to $236.6 million
Nesco Holdings Shareholders Approve the Proposals Required to Consummate the Acquisition of Custom Truck One Source in Partnership with Platinum Equity
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FORT WAYNE, Ind., Feb. 19, 2021 /PRNewswire/ Nesco Holdings, Inc. (NYSE: NSCO, Nesco or the Company ) announced today that, at its special meeting of shareholders, held yesterday, shareholders approved and adopted the NYSE Proposal and each of the Charter Proposals (as such terms are defined in Nesco s definitive proxy statement filed with the U.S. Securities and Exchange Commission on January 20, 2021). The final vote results, as certified by the independent Inspector of Election, will be filed on a Form 8-K with the U.S. Securities and Exchange Commission.