Civeo Corporation (CVEO) Q4 2024 Earnings Call Transcript
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.
Compared to Estimates, Civeo (CVEO) Q4 Earnings: A Look at Key Metrics
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) Reports Q4 Loss, Lags Revenue Estimates
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 Reports Fourth Quarter and Full Year 2024 Results
HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the fourth quarter and year ended December 31, 2024. Bradley J. Dodson, Civeo's President and Chief Executive Officer said, “2024 marked our 10-year anniversary as an independent company since our spin-off in 2014, and over that time our business has undergone significant change. Today, having significantly improved our capital structure, we are a diversified company pro.
Civeo (CVEO) Soars 7.5%: Is Further Upside Left in the Stock?
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 to Acquire Four Villages in Australian Bowen Basin
HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that it has entered into a definitive asset purchase agreement with a private seller for Civeo to acquire four villages with 1,340 rooms in Australia's Bowen Basin and the associated long-term customer contracts. Under the terms of the agreement, Civeo would acquire the assets and customer contracts for total cash consideration of A$105 million, or approximately US$67 million, funded with cash on hand and borrowings from it.
Civeo Announces Fourth Quarter 2024 Earnings Conference Call
HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its fourth quarter 2024 earnings conference call for Thursday, February 27th, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the fourth quarter 2024, which will be released before the market opens on Thursday, February 27, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally an.
Civeo Corporation: This Downturn Offers A Good Buying Opportunity
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 Announces Quarterly Dividend
HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that its board of directors has declared a quarterly cash dividend of $0.25 per common share, payable on March 17, 2025 to shareholders of record as of close of business on February 24, 2025. For purposes of the Income Tax Act (Canada), the Company has designated this dividend to be an "eligible dividend". About Civeo: Civeo Corporation is a leading provider of hospitality services with prominent market p.
Civeo Announces a Six-Year A$1.4 Billion Integrated Services Contract Renewal with Expanded Scope in Australia
HOUSTON & SYDNEY--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that it was awarded a six-year contract extension with a leading resources player to provide integrated services at eleven villages in Western Australia, effective January 1, 2025. This contract expands Civeo's scope from operating seven villages to eleven villages. The new contract will incorporate catering and retail services; village, mine and port site cleaning services; facilities maintenance; and the provisi.
Civeo Corporation: Some Favorable Narratives, But A Challenging Q4 Beckons
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.
Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2024 Q3
Dallas, Texas--(Newsfile Corp. - November 5, 2024) - Civeo Corporation (NYSE: CVEO) Stonegate Capital Partners updates their coverage on Civeo Corporation. Civeo has consistently generated positive free cash flow every year since 2014 and continues to do so.
