Civeo (NYSE:CVEO – Get Free Report) 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 company had revenue of $180.02 million during the quarter, compared to the consensus estimate 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 Up 0.4%
Civeo stock traded up $0.13 during midday trading on Thursday, reaching $32.63. 249,668 shares of the company were exchanged, compared to its average volume of 178,028. Civeo has a 1 year low of $19.75 and a 1 year high of $36.50. The firm’s 50-day simple moving average is $33.62 and its 200-day simple moving average is $30.27. The company has a current ratio of 1.88, a quick ratio of 1.81 and a debt-to-equity ratio of 1.32.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Civeo
Institutional Trading of Civeo
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Civeo by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 628,158 shares of the business services provider’s stock worth $14,366,000 after purchasing an additional 9,784 shares during the period. Punch & Associates Investment Management Inc. increased its stake in shares of Civeo by 0.8% during 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 acquiring an additional 2,115 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Civeo by 38.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 189,057 shares of the business services provider’s stock worth $4,324,000 after acquiring an additional 52,660 shares during the period. Boston Partners lifted its holdings in shares of Civeo by 12.4% during the 4th quarter. Boston Partners now owns 161,911 shares of the business services provider’s stock worth $3,703,000 after acquiring an additional 17,871 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Civeo by 217.7% in the third 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 last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.
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.
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