Civeo Corporation deserves a 'Buy' rating due to its unique position as a provider of workforce accommodations and hospitality, healthy outlook and cheap valuation of 5.9x EV/FCF. The company has a proven track record of producing free cash flow and has massively deleveraged over the last ten years. Management increased the share buybacks from 10% to 20% of outstanding shares.
Civeo (CVEO) came out with a quarterly loss of $0.72 per share versus the Zacks Consensus Estimate of a loss of $0.78. This compares to loss of $0.26 per share a year ago.
Civeo (CVEO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Civeo Corp. is positioned for growth despite recent Q4 earnings disappointments, driven by increased demand for oil and mining and a targeted strategy to address Canadian issues. The company focuses on providing accommodations in remote areas for energy and construction workers, with significant operations in Australia and Canada. Civeo is restructuring its Canadian operations to reduce dependency on oil sands and cut overhead costs, projecting a transition year in 2025.
Civeo Corporation (NYSE:CVEO ) Q4 2024 Earnings Conference Call February 27, 2025 11:00 AM ET Company Participants Regan Nielsen - Vice President, Corporate Development & Investor Relations Bradley Dodson - President & Chief Executive Officer Collin Gerry - Chief Financial Officer & Treasurer Conference Call Participants Stephen Gengaro - Stifel Steve Ferazani - Sidoti Dave Storms - Stonegate Josh Jayne - Daniel Energy Partners Stephen Gengaro - Stifel Operator Greetings, and welcome to the Civeo Corporation Fourth Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.
While the top- and bottom-line numbers for Civeo (CVEO) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Civeo (CVEO) came out with a quarterly loss of $0.88 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to earnings of $0.06 per share a year ago.
Civeo (CVEO) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Civeo Corporation provides accommodations for natural resource extraction industries in Canada and Australia, showing impressive debt reduction and trading at low valuation multiples. Despite recent revenue drops and mixed financial performance, the company's Australian segment saw significant growth, driven by higher occupancy and increased service demand. Net debt has drastically reduced from $166.9 million in 2021 to $32.2 million, enhancing financial flexibility and reducing long-term risk.
Civeo, which had been outperforming other micro-caps all through this year, is now underperforming its peer set after a weak Q3. The Canadian operations won't see a sequential pick-up in Q4 on account of seasonal challenges and higher de-mobilization costs, while the implied FCF guide for Q4 also looks weak. Despite challenges in Canada, Civeo's Australian segment shows strong growth, with its owned villages and integrated services seeing strong occupancy.
Civeo Corporation (NYSE:CVEO ) Q3 2024 Earnings Conference Call October 30, 2024 11:00 AM ET Company Participants Regan Nielsen - Vice President, Corporate Development and Investor Relations Bradley Dodson - President and CEO Collin Gerry - Chief Financial Officer and Treasurer Conference Call Participants Stephen Gengaro - Stifel Steve Ferazani - Sidoti & Company Dave Storms - Stonegate Sean Mitchell - Daniel Energy Partners Operator Greetings, and welcome to the Civeo Corporation Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode.
While the top- and bottom-line numbers for Civeo (CVEO) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.