Civeo (NYSE:CVEO) Announces Earnings Results

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

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 Performance

Shares of NYSE:CVEO traded up $0.13 during midday trading on Thursday, reaching $32.63. The company’s stock had a trading volume of 249,668 shares, compared to its average volume of 178,028. 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 stock has a fifty day moving average of $33.62 and a 200 day moving average of $30.27. Civeo has a twelve month low of $19.75 and a twelve month high of $36.50. The firm has a market capitalization of $356.94 million, a PE ratio of -27.42 and a beta of 0.73.

Hedge Funds Weigh In On Civeo

Institutional investors have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. lifted its holdings in shares of Civeo by 0.8% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 275,585 shares of the business services provider’s stock valued at $6,338,000 after buying an additional 2,115 shares during the period. State of Wyoming acquired a new stake in Civeo during the second quarter worth about $66,000. Lido Advisors LLC grew its holdings in Civeo by 12.7% during the fourth quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider’s stock worth $596,000 after acquiring an additional 2,916 shares during the period. Empowered Funds LLC raised its position in Civeo by 5.5% during the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider’s stock valued at $2,445,000 after acquiring an additional 5,570 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Civeo during the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 15th. One equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.00.

Civeo Company Profile

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.