Civeo (NYSE:CVEO) Issues Earnings Results, Beats Estimates By $0.07 EPS

Civeo (NYSE:CVEO) posted its quarterly earnings results on Thursday. The business services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07, Zacks reports. The firm had revenue of $180.02 million during the quarter, compared to the consensus estimate of $172.18 million. Civeo had a negative return on equity of 7.72% and a negative net margin of 2.10%.

Here are the key takeaways from Civeo’s conference call:

• 2026 guidance was maintained at $675–$700 million in revenue, $85–$90 million in adjusted EBITDA, and $25–$30 million in capital expenditures.
• Second-quarter adjusted EBITDA declined to $23.8 million from $25.0 million year over year, pressured by Ontario contract start-up costs, Australian cost inflation, and softer Australian owned-village occupancy.
• Civeo raised $115 million through 4.5% convertible notes due 2031, using proceeds to repurchase shares and repay revolver borrowings; management said the transaction restores liquidity and improves flexibility to pursue growth opportunities.
• The company continues to pursue a North American bid pipeline exceeding $1.5 billion in total contract value, with management expecting some opportunities to reach final investment decisions and potentially produce contract awards by year-end.
• Australia remains the core cash-flow strength, while Canadian revenue is expected to grow approximately 20% year over year in the second half; however, major LNG and infrastructure projects may contribute primarily in 2027 because of FID, contract-award, mobilization, and weather-related timing.

Civeo Stock Up 0.4%

Civeo stock traded up $0.13 during trading on Thursday, reaching $32.63. 249,668 shares of the company’s stock were exchanged, compared to its average volume of 178,028. Civeo has a 52-week low of $19.75 and a 52-week high of $36.50. The company has a quick ratio of 1.81, a current ratio of 1.88 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average is $33.62 and its two-hundred day moving average is $30.27.

Institutional Investors Weigh In On Civeo

Several institutional investors and hedge funds have recently modified their holdings of CVEO. Goldman Sachs Group Inc. acquired a new stake in shares of Civeo in the fourth quarter valued at about $2,290,000. Millennium Management LLC boosted its holdings in Civeo by 217.7% in the 3rd quarter. Millennium Management LLC now owns 128,810 shares of the business services provider’s stock worth $2,963,000 after acquiring an additional 88,267 shares during the period. Charles Schwab Investment Management Inc. grew its position in Civeo by 38.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock valued at $4,324,000 after acquiring an additional 52,660 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in Civeo in the fourth quarter valued at approximately $573,000. Finally, Boston Partners raised its stake in shares of Civeo by 12.4% during the fourth quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock valued at $3,703,000 after purchasing an additional 17,871 shares during the period. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Civeo presently has an average rating of “Hold” and an average price target of $37.00.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.