Civeo (NYSE:CVEO) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Civeo (NYSE:CVEO) announced its 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 for the quarter, compared to analyst estimates of $172.18 million. Civeo had a negative net margin of 1.93% and a negative return on equity of 7.82%.

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 CVEO stock traded down $0.58 during midday trading on Friday, hitting $31.43. The company had a trading volume of 194,644 shares, compared to its average volume of 174,248. The stock has a market cap of $343.79 million, a price-to-earnings ratio of -26.86 and a beta of 0.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.89 and a quick ratio of 1.81. The company’s 50 day simple moving average is $33.58 and its 200 day simple moving average is $30.28. Civeo has a 52-week low of $19.75 and a 52-week high of $36.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Civeo from a “sell (d-)” rating to a “sell (d)” rating in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.00.

Institutional Investors Weigh In On Civeo

Hedge funds have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. grew its position in 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 last quarter. State of Wyoming acquired a new stake in shares of Civeo in the 2nd quarter worth $66,000. Lido Advisors LLC lifted its stake 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 during the period. Empowered Funds LLC boosted its holdings in shares of Civeo by 5.5% in 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 stake in shares of Civeo in the first quarter valued at about $204,000. 81.44% of the stock is owned by institutional investors and hedge funds.

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.