Civeo (NYSE:CVEO) Announces Earnings Results

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

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

Civeo stock traded down $0.14 during midday trading on Friday, hitting $31.87. The stock had a trading volume of 93,880 shares, compared to its average volume of 96,334. The company has a current ratio of 1.88, a quick ratio of 1.81 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average is $33.62 and its two-hundred day moving average is $30.27. The company has a market capitalization of $348.62 million, a PE ratio of -26.77 and a beta of 0.73. Civeo has a 52-week low of $19.75 and a 52-week high of $36.50.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, June 15th. One investment 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. Based on data from MarketBeat, Civeo has an average rating of “Hold” and a consensus target price of $37.00.

Hedge Funds Weigh In On Civeo

Several institutional investors have recently added to or reduced their stakes in CVEO. State of Wyoming bought a new position in shares of Civeo in the 2nd quarter valued at about $66,000. Goldman Sachs Group Inc. purchased a new stake in shares of Civeo in the 1st quarter worth $204,000. ExodusPoint Capital Management LP purchased a new stake in shares of Civeo in the 4th quarter worth approximately $573,000. Lido Advisors LLC raised its position in shares of Civeo by 12.7% in the 4th 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 in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of 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 buying an additional 5,570 shares during the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

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.