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Civeo Corp (CVEO)
NYSE:CVEO
Earnings Data
Report Date
Apr 25, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.79Last Year’s EPS
-0.35Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -19.17%
|Next Earnings Date:Apr 25, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects strong growth and strategic acquisitions in Australia, which are positive developments. However, these are counterbalanced by significant challenges and restructuring in the Canadian segment, resulting in an overall financial loss for the year.Company Guidance
During the Civeo Corporation fourth quarter 2024 earnings call, the company provided guidance for 2025, projecting revenues between $630 million and $660 million, and adjusted EBITDA ranging from $80 million to $90 million. The call highlighted strong occupancy levels in Australia, with a 23% increase in revenues compared to the fourth quarter of 2023, driven by a $1.4 billion contract and the acquisition of four villages in the Bowen Basin. In contrast, the Canadian segment faced challenges due to reduced customer capital spending and economic uncertainties, leading to lower billed rooms and anticipated one-time restructuring costs of approximately $3 million in Q1 2025. Civeo's 2024 revenue was $682 million with a net loss of $17.1 million, while adjusted EBITDA was $79.9 million, primarily impacted by the sale of McClelland Lake Lodge and a wind-down in LNG-related activity. Despite these challenges, Civeo returned $44 million of capital to shareholders, representing 65% of 2024's free cash flow, and plans to continue focusing on high bidding activity in diversified end markets and integrated services growth in Australia.Strong Performance in Australia
Revenues in the Australian segment increased 23% compared to the fourth quarter of 2023, driven by strong occupancy levels and increased activity in the integrated services business from a $1.4 billion contract.
Successful Acquisition in Australia
Acquisition of four villages in the Australian Bowen Basin expected to be immediately accretive to cash flow, with contracts backed by two and three-year take-or-pay agreements.
Significant Shareholder Returns
Returned approximately $44 million of capital to shareholders through dividends and share repurchases, representing 65% of 2024's free cash flow.
Deleveraging and Revenue Diversification
Reduced debt significantly from $775 million at the time of spin to a much lower debt profile, with a diversified revenue mix more weighted towards commodities in Australia.
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CVEO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CVEO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $26.97 | $22.00 | -18.43% |
| Oct 30, 2024 | $26.96 | $24.70 | -8.38% |
| Jul 30, 2024 | $24.46 | $25.48 | +4.17% |
| Apr 26, 2024 | $24.84 | $24.05 | -3.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Civeo Corp (CVEO) report earnings?
Civeo Corp (CVEO) is schdueled to report earning on Apr 25, 2025, TBA Not Confirmed.
What is Civeo Corp (CVEO) earnings time?
Civeo Corp (CVEO) earnings time is at Apr 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVEO EPS forecast?
CVEO EPS forecast for the fiscal quarter 2025 (Q1) is -0.79.
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