An Overview Of Custom Truck One Source, Inc.’s Income Statement, 2024
~1.7 mins read
Custom Truck One Source, Inc.’s sales for the past 7 years show a consistent upward trend, just like gross profit. However, as you can see, operating profit is inconsistent, and net profit has only recently started to be positive and increase bit by bit.
This is due to increasing expenses, particularly COGS and operating costs, which have been on an upward trend for a long time and are significantly reducing profits. Compared to 2017, in 2023, both COGS and operating expenses grew by approximately 9 times.
Selling, general, and administrative expenses account for a large portion of operating costs, and as a percentage of gross profit, they far exceed the 30% threshold, which investors think is appropriate.
Though Custom Truck One Source, Inc.’s EPS was negative due to losses, it was also showing an upward trend, resulting in losses getting smaller each year until EPS finally became positive in 2022 and 2023. estimates that the next year’s EPS will be 0.27 USD, slightly higher than it was in 2023.
Most of the time, its gross margin exceeds 20%, but it falls significantly short of the generally accepted 40% threshold. Additionally, the operating and net margins are too low and inconsistent. At least in 2022–2023, all the profit margins became positive and are increasing, which means that the company finally became profitable and somewhat stable.
The company’s depreciation is increasing most of the time, and as a percentage of gross profit, it is far higher than the desired 6–8%. However, at least the percentage is decreasing over time, so it might reach the desired value in the near future.
Custom Truck One Source, Inc.’s operating ratio has mostly remained the same, with a slight decrease in recent years, which is what investors look for. Interest expenses, on the other hand, are increasing in the same way as COGS and operating expenses, but as a percentage of operating income, they far exceed the desired 6–7% value investors look for.
In conclusion, the data from Custom Truck One Source, Inc.’s income statements and related KPIs did not reveal any competitive advantages, since most of the KPIs performed poorly or averagely, but to make sure that there are none, it is necessary to check its other financial statements too.
5 Things To Know Before The Stock Market Opens
~2.8 mins read

U.S. stock futures are little changed after the S&P 500 and Nasdaq closed at fresh record highs Monday, lifted by an artificial intelligence (AI)-driven rally in tech stocks; Lennar (LEN) shares are falling in premarket trading after the Miami-based company forecasted below-forecast deliveries of new homes; U.S. retail sales for May are due at 8:30 a.m. ET and expected to show a modest rebound in consumer spending; shares of furniture maker La-Z-Boy (LZB) are jumping as its results beats analysts' estimates despite a sluggish housing market; and Boeing (BA) Chief Executive Officer (CEO) Dave Calhoun is set to face a grilling from lawmakers when he testifies before a Senate hearing. Here's what investors need to know today.

U.S. stock futures are little changed after the S&P 500 and Nasdaq closed at record highs Monday, continuing to be lifted by an AI-driven rally in tech stocks. Shares of chipmaker Broadcom (AVGO), which have been gaining since last week's stock split announcement, Micron Technology (MU), and Super Micro Computer (SMCI) are extending gains in premarket trading following increases that drove markets Monday. The May retail sales numbers due Tuesday and a slew of Federal Reserve officials speaking who may give investors a clue as to the central bank’s rate-cut path may affect trading ahead of Wednesday’s Juneteenth holiday, when U.S. markets will be closed.

Lennar (LEN) shares are dropping about 3% in premarket trading after the homebuilder’s delivery forecast outweighed quarterly results that came in ahead of Wall Street expectations. The Miami-based company, which constructs residential homes nationwide, forecasts fiscal third-quarter home deliveries of between 20,500 and 21,000, with the 20,750 midpoint of that projection below analysts' consensus view of 20,917 units. This closely watched metric indicates demand for new homes remains subdued amid mortgage rates sitting near a 20-year high.

U.S. retail sales for May are due at 8:30 a.m. ET and expected to show a modest rebound in consumer spending. Retail sales for the month are due to rise 0.2%, according to a survey of economists by and . April’s surprisingly soft data showed that consumers are pulling back from spending as they grapple with high interest rates.

Shares of furniture maker La-Z-Boy (LZB) are jumping 10% in premarket trading after the company’s quarterly results and outlook beat Wall Street forecasts, despite a sluggish housing market. For its fiscal fourth quarter ending April 27, the Monroe, Mich.-based company, which manufactures and sells residential and retail furniture, posted adjusted earnings of 95 cents per share even as revenue fell 1% year-over-year to $553.5 million. CEO Melinda Whittington said the company’s conversion rates were at all-time highs and average ticket and design sales were trending up for the year, despite the furniture industry facing challenges from higher-for-longer interest rates and housing turnover sitting near three-decade lows.

Boeing (BA) CEO Dave Calhoun, who said in March he would step down at the end of the year, is set to face a grilling from lawmakers today when he testifies before a Senate panel on the airplane maker’s travails this year. The hearing at the Senate Homeland Security Committee’s Permanent Subcommittee on Investigations will start at 2 p.m. ET. Calhoun is expected to be questioned on Boeing's safety and manufacturing practices that led to a door plug flying off mid-air from an Alaska Airlines (ALK) flight in January, causing the Federal Aviation Administration (FAA) to bar the company from expanding production of its 737 Max jets, as well as a series of whistleblower allegations. According to “several high-profile candidates” have so far turned down the chance to replace Calhoun. The airplane maker’s shares are down less than 1% in premarket trading. 

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La-Z-Boy Stock Jumps On Strong Earnings, Upbeat Outlook—Watch This Price Level
~1.9 mins read

Shares in furniture maker La-Z-Boy (LZB) jumped more than 9% ahead of Tuesday’s opening bell after the company eased investors’ fears over slowing consumer spending and a sluggish housing market by announcing quarterly results and forward sales guidance that came in above analysts’ expectations.

For the quarter ending April 27, the Monroe, Michigan-based company posted adjusted earnings of 95 cents per share, handily topping the consensus estimate of 70 cents a share. Revenue in the period fell 1% to $554 million, but easily surpassed expectations of $516.4 million.

Turning to forward guidance, La-Z-Boy said it sees current-quarter net sales of $475 million to $495 million, with the $485 million midpoint of that forecast beating estimates of $476 million.

CEO Melinda Whittington said that the company’s conversion rates were at all-time highs and average ticket and design sales were trending up for the year, even as the furniture industry faces challenges from high interest rates and as housing turnover sits near three decade lows. Whittington added that she expects industry fundamentals to remain volatile in the near term but anticipates La-Z-Boy to outperform competitors and gain market share.

The company said it expects sales growth in fiscal 2025 to be driven by its Century Vision strategy, which includes the opening of 12 to 15 new La-Z-Boy Furniture Galleries stores, primarily in the second half of the year.

La-Z-Boy shares have traded within a broad rising wedge since early last year, with the 200-day moving average sitting just above the pattern’s lower trendline to provide additional support during pullbacks. Leading into the company’s quarterly results, the stock formed a piercing pattern near the wedge’s lower trendline on above-average volume, indicating a potential reversal back to the upside. Indeed, the shares sit positioned to open sharply higher on Tuesday morning.

Looking ahead, investors should monitor the $41 level, an area on the chart where the price may encounter selling pressure near the rising wedge’s top trendline. A volume-backed breakout above this key level could see an acceleration of the longer-term uptrend.

La-Z-Boy shares were up 9.1% at $37.20 about two hours before Tuesday's opening bell.

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S&P 500 Boosted Stock Buybacks By 10% In Q1
~1.5 mins read

Stock buybacks among S&P 500 companies rose in the first quarter of 2024 compared with the previous quarter and the first quarter of 2023, S&P Dow Jones Indices said Monday.

A total of $236.8 billion was spent on stock buybacks in the first quarter, up from $219.1 billion in the previous quarter, and up about 10% from $215.5 billion in the first quarter of last year.

The largest 20 companies in the index were responsible for 50.9% of the buybacks in the first quarter, slightly down from last quarter's rate of 54%, but still above the historical average of 47.5%.

The overall number of companies buying back shares was similar to last year, with 352 companies reporting buybacks of at least $5 million compared with 358 companies who did so in the same period last year. In the latest quarter, 380 companies performed some form of stock buyback, slightly down from 390 in the year-ago quarter.

The companies with the biggest buyback campaigns in the first quarter were as follows:

Consumer discretionary was the lone sector that decreased buybacks in the quarter. Several retailers warned of a decline in discretionary spending in their most recent earnings reports. Tech, finance, health care, and consumer staples all posted increases in buybacks.

However, uncertainty surrounding when the Federal Reserve will cut interest rates could affect buyback plans for the rest of the year.

"Given the market's current expectations for interest rates to decline later in the year and the continued uncertainty over geopolitical and domestic issues," S&P Dow Jones Indices Senior Index Analyst Howard Silverblatt said, "companies may be shy to finance buybacks going forward as discretionary buybacks, which reduce share count, may need to be financed from ongoing operations."

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What’s Wrong With This Generation?,” Lady Fumes After Her Audacious Talking Stage Partner Told Her He Had Rømp Last Week
~0.2 mins read

A lady has fumes after her audacious talking stage partner told her he had rømp last week.

She asked what’s wrong with this generation?, as her talking stage partner told her he had s+x last week, after she asked him.

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How Block Makes Money
~2.0 mins read

Block Inc. (SQ), formerly Square, is a financial services and online payments company that provides hardware and software tools to help businesses run and grow their operations. Block's primary products are its point-of-sale hardware system, software for payments processing and analytics, Square, and Cash App. The company also owns a majority in music-streaming service TIDAL and TBD, a bitcoin ecosystem.

Blockfaces small and large competitors such as business software companies, payroll processors, payment terminal vendors, and banks. They include PayPal Holdings Inc. (PYPL), Intuit Inc. (INTU), Shopify Inc. (SHOP), and venture capital startup ShopKeep.

Block has two reportable segments: Square and Cash App. Products and services not assigned to a specific reportable segment, include TIDAL, TBD, and other emerging ecosystems.

Block Inc. announced in Feb. 2024 its financial results for fiscal year (FY) 2023 that ended Dec. 31, 2023. Annual revenue was $21.9 billion, a 25% increase year-over-year (YOY) from FY2022. The company posted a gross profit of $7.5 billion, up from $6.0 billion in 2022. Bitcoin transactions accounted for 43% of revenues.

In 2009, Jack Dorsey and Jim McKelvey founded Square, Inc., a platform for merchant services and mobile payments. By December 2021, Square rebranded as Block, Inc. Since its 2015 initial public offering (IPO), Block has grown into one of the largest and best-known payment services companies in the U.S. The company posted its first annual profit in fiscal year (FY) 2019.

As of 2024, Jack Dorsey serves as the Chairman of the company. Amrita Ahuja is Block's Chief Operating Officer COO and Chief Financial Officer CFO.

In May 2024, Square added new platform integrations for food and beverage businesses including SevenRooms, Restaurant365, and Popmenu.U.S. prosecutors are reportedly examining financial transactions at Block Inc. following a whistleblower allegation in 2024 that the company processed transactions for countries subject to economic sanctions and handled cryptocurrency transactions for terrorist groups.

To prevent fraud and identity theft, Block integrates encryption technology on its devices, which do not store card numbers, security codes, or magnetic stripe data.

A POS or point of sale is a device used to process transactions by retail customers. Services like Square offer POS transactions so merchants can accept card payments through tapping or swiping.

As of 2023, Block Inc. employed 12,985 individuals.

Jim McKelvey and Jack Dorsey launched Square, Inc., in 2009. Square changed its name to Block, Inc. in December 2021. Since 2017, the company's Cash App has allowed merchants to use Bitcoin in the technology to accept payment.

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