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Civeo Corp (CVEO)
NYSE:CVEO
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Civeo
(NYSE:CVEO)
Rating:58Neutral
Price Target:
$21.50
▲( 2.87% Upside)
Civeo (CVEO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$284.00M
Dividend Yield4.82%
Average Volume (3M)86.68K
Price to Earnings (P/E)19.4
Beta (1Y)0.12
Revenue Growth-5.62%
EPS Growth-175.97%
CountryUS
Employees2,600
SectorIndustrials
Sector Strength90
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-0.72
Shares Outstanding13,453,255
10 Day Avg. Volume89,779
30 Day Avg. Volume86,678
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)1.19
Price to Sales (P/S)0.00
P/FCF Ratio6.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$27.00Price Target Upside29.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Civeo Business Overview & Revenue Model
Company DescriptionCiveo Corporation is a leading provider of workforce accommodations, catering, and facility management services, primarily serving the natural resources industry in regions such as Canada, Australia, and the United States. The company specializes in delivering cost-effective and scalable solutions for remote workforces, ensuring comfortable living conditions, quality dining experiences, and comprehensive services that support productivity and employee well-being.
How the Company Makes MoneyCiveo makes money through the provision of accommodation and related services for workers in remote locations, primarily in the oil, mining, and natural resources sectors. The company's revenue model is based on long-term contracts and service agreements with major resource development companies, where it provides lodging, food services, and facility management to support large-scale projects. Key revenue streams include room revenues, catering services, and facility management fees. Civeo also benefits from strategic partnerships and maintains a focus on operational efficiency to enhance its profitability in competitive markets.
Civeo Financial Statement Overview
Summary
Civeo demonstrates moderate financial health with strengths in cash flow generation and improving gross margins. However, recurring net losses and declining total assets present challenges that require strategic attention to ensure sustainable growth.Income Statement
Civeo's income statement shows a fluctuating revenue trend with a recent decline in TTM. Gross profit margin is improving, indicating better cost management. However, persistent net losses and declining EBIT margin are concerning, affecting profitability.65
Positive
Balance Sheet
The balance sheet reveals moderate debt levels with a stable equity ratio. The debt-to-equity ratio has improved, reflecting better leverage management. However, the overall asset base is decreasing, which may limit future growth opportunities.58
Neutral
Cash Flow
Civeo's cash flow statement indicates strong operating cash flow relative to net income, which is a positive sign of cash generation. However, free cash flow has decreased in the TTM period, suggesting a need for careful cash management.72
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 660.05M | 682.12M | 700.80M | 697.05M | 594.46M | 529.73M | Gross Profit |
| 108.71M | 149.46M | 170.52M | 179.99M | 158.00M | 147.64M | EBIT |
| -2.13M | 1.33M | 39.49M | 27.93M | 27.19M | 17.77M | EBITDA |
| 66.52M | 70.07M | 128.68M | 109.95M | 97.09M | -30.18M | Net Income Common Stockholders |
| -21.78M | -17.07M | 30.16M | 6.33M | 2.50M | -132.78M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 28.37M | 5.20M | 3.32M | 7.95M | 6.28M | 6.16M | Total Assets |
| 423.75M | 405.07M | 548.06M | 566.18M | 672.73M | 740.85M | Total Debt |
| 97.40M | 49.95M | 79.19M | 143.72M | 188.61M | 268.42M | Net Debt |
| 69.03M | 44.75M | 75.87M | 135.77M | 182.32M | 262.26M | Total Liabilities |
| 203.01M | 168.07M | 225.02M | 262.48M | 309.62M | 365.50M | Stockholders Equity |
| 220.74M | 236.37M | 320.17M | 300.14M | 361.50M | 374.69M |
| Cash Flow | Free Cash Flow | ||||
| 43.09M | 57.37M | 64.93M | 66.35M | 72.96M | 107.28M | Operating Cash Flow |
| 68.81M | 83.51M | 96.56M | 91.77M | 88.53M | 117.36M | Investing Cash Flow |
| -21.21M | -14.94M | -14.52M | -8.95M | -706.00K | -1.77M | Financing Cash Flow |
| -34.95M | -65.20M | -86.80M | -79.66M | -86.51M | -114.21M |
Civeo Technical Analysis
Positive
20.90
Price Trends
20.76
Positive
22.15
Negative
23.89
Negative
Market Momentum
0.13
Negative
54.17
Neutral
43.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVEO, the sentiment is Positive. The current price of 20.9 is above the 20-day moving average (MA) of 20.22, above the 50-day MA of 20.76, and below the 200-day MA of 23.89, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 54.17 is Neutral, neither overbought nor oversold. The STOCH value of 43.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CVEO.
Civeo Risk Analysis
Civeo disclosed 36 risk factors in its most recent earnings report. Civeo reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Civeo Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Performance Comparison
CVEO
Civeo
20.90
-2.60
-11.06%
PRSU
Pursuit Attractions and Hospitality
27.27
-6.78
-19.91%
TH
Target Hospitality
7.60
-3.75
-33.04%
Civeo Earnings Call Summary
Earnings Call Date:Apr 30, 2025
(Q1-2025)
| % Change Since: 4.03%|
Next Earnings Date:Jul 25, 2025
Earnings Call Sentiment Negative
The earnings call highlighted positive developments in terms of share repurchase strategies and Australian segment growth. However, these were outweighed by significant challenges in the Canadian market, including reduced revenues, restructuring efforts, and lowered financial guidance. The overall sentiment reflects a cautious outlook with emphasis on strategic adaptations to current market conditions.Q1-2025 Updates
Positive Updates
Increased Share Repurchase Authorization
The Board has increased the share repurchase authorization from 10% to 20% of total shares outstanding, with 100% of annual free cash flow allocated to share repurchases.
Strong Performance in Australia
Australian segment revenues increased by 13% year-over-year, driven by increased activity in integrated services and a significant contract renewal and expansion.
Completion of Significant Share Repurchases
Since the inception of the share repurchase program in 2021, Civeo has repurchased approximately 22% of its common shares outstanding.
Negative Updates
Canadian Market Challenges
Decreased billed rooms and lower revenues in the Canadian segment due to reduced customer capital spending, political uncertainty, and macroeconomic challenges.
Net Loss and Negative Cash Flow
Civeo reported a net loss of $9.8 million and negative operating cash flow of $8.4 million in the first quarter of 2025.
Restructuring and Cost Reduction in Canada
A 25% reduction in Canadian employee headcount and a $1 million restructuring charge were recorded to address the challenging market conditions.
Lowered Financial Guidance for 2025
Full-year revenue and adjusted EBITDA guidance were lowered due to ongoing challenges, particularly in the Canadian market.
Company Guidance
During the Civeo Corporation's First Quarter 2025 earnings call, the company updated its guidance, emphasizing a strategic shift in capital allocation to enhance shareholder value. The Board approved an increase in share repurchase authorization from 10% to 20% of total shares, suspending the quarterly dividend to allocate 100% of annual free cash flow to share repurchases. First-quarter 2025 financials included total revenues of $144 million, a net loss of $9.8 million, and adjusted EBITDA of $12.7 million. The Canadian segment experienced challenges with decreased billed rooms and a 25% workforce reduction, while the Australian segment showed strength with 13% revenue growth year-over-year. Full-year 2025 guidance was lowered, projecting revenues between $620 million and $650 million, adjusted EBITDA of $75 million to $85 million, and capital expenditures of $20 million to $25 million. The acquisition of four Australian Villages is expected to close in Q2 2025, anticipated to be immediately accretive to operating cash flow.Civeo Corporate Events
Executive/Board ChangesShareholder Meetings
Civeo Shareholders Approve Board Nominees and Compensation
Neutral
May 14, 2025
At the 2025 Annual General Meeting, Civeo Corporation’s shareholders elected three Class II nominees to the Board and approved the executive compensation as outlined in the Proxy Statement. Additionally, they ratified Ernst & Young LLP as the independent registered public accounting firm for 2025, authorizing the Audit Committee to determine its remuneration.
The most recent analyst rating on (CVEO) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on Civeo stock, see the CVEO Stock Forecast page.
M&A Transactions
Civeo Finalizes Acquisition of Bowen Basin Villages
Positive
May 7, 2025
On May 6, 2025, Civeo Pty Ltd, a subsidiary of Civeo Corporation, finalized the acquisition of four villages with 1,340 rooms in Australia’s Bowen Basin. The purchase, valued at A$105,000,000, was funded through cash on hand and borrowings, potentially enhancing Civeo’s market position in the region.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.