Civeo Corp (CVEO)
NYSE:CVEO
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Civeo
(NYSE:CVEO)
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Rating:54Neutral
Price Target:
$36.00
▲(19.28% Upside)
Action:Reiterated
Date:05/28/26
The score is held back primarily by weakened financial performance (margin compression, ongoing losses, and higher leverage with thin free cash flow). Technicals provide meaningful support with clear uptrend signals and positive momentum. The latest earnings call was encouraging with strong Q1 growth and improved EBITDA plus higher revenue guidance, but ongoing cost inflation and project timing risk temper the outlook, while valuation remains challenged due to negative earnings.
Positive Factors
Large bid pipeline & deployable assets
A >$1.5B active bid pipeline plus 2,500 mobile camp rooms and ~7,000 redeployable lodge rooms provides durable revenue optionality and scalability. Redeployable assets reduce incremental capex needs, speed time-to-revenue on wins and improve competitive responsiveness across infrastructure cycles.
Negative Factors
Rising leverage with limited free cash flow
Debt has risen materially versus prior years while free cash flow remains slim. Higher leverage reduces financial flexibility, increases sensitivity to rate moves and cost inflation, and limits the company's ability to fund growth or absorb project timing delays without additional financing or operational improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Large bid pipeline & deployable assets
A >$1.5B active bid pipeline plus 2,500 mobile camp rooms and ~7,000 redeployable lodge rooms provides durable revenue optionality and scalability. Redeployable assets reduce incremental capex needs, speed time-to-revenue on wins and improve competitive responsiveness across infrastructure cycles.
Read all positive factors
Civeo (CVEO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$364.52M
Dividend Yield4.25%
Average Volume (3M)42.56K
Price to Earnings (P/E)―
Beta (1Y)0.19
Revenue Growth1.13%
EPS Growth25.94%
CountryUS
Employees2,600
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-1.19
Shares Outstanding10,943,296
10 Day Avg. Volume48,128
30 Day Avg. Volume42,561
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.66
Price to Sales (P/S)0.45
P/FCF Ratio134.71
Enterprise Value/Market Cap1.58
Enterprise Value/Revenue0.86
Enterprise Value/Gross Profit4.05
Enterprise Value/Ebitda6.61
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.67
Revenue Forecast (FY)$686.19M
Civeo Business Overview & Revenue Model
Company Description
Civeo Corporation specializes in providing comprehensive hospitality and lodging solutions for the natural resource sector across Canada, Australia, and the United States. The company constructs and operates both permanent and temporary workforce ...
How the Company Makes Money
Civeo makes money by contracting with industrial and resource-sector customers to provide workforce housing and on-site hospitality services. Its core revenue stream comes from operating accommodations (rooms/beds) at remote lodges or villages, wh...
Civeo Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 24, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and commercial trajectory: strong Q1 revenue growth (+20%) and large adjusted EBITDA improvement (+78%), improved Canadian profitability, meaningful contributions from acquired Australian villages, an expanded and healthy bid pipeline (> $1.5B), and proactive capital allocation (share repurchases, amended credit facility). Offsetting risks include near-term margin pressure from higher diesel and inflation (particularly in Australia), seasonal negative operating cash flow, labor constraints, modest softness in portions of legacy Australian villages, and timing/FID risk that may delay revenue recognition from large infrastructure opportunities into 2027. Overall, the company is growing top-line and improving margins while maintaining financial flexibility, but management is cautious on EBITDA given cost/inflation dynamics and project timing uncertainty.Positive Updates
Strong Consolidated Top-Line and Margin Expansion
Total revenue of $172.7M in Q1 2026, up ~20% year-over-year (from $144M). Adjusted EBITDA of $22.5M, up 78% YoY (from $12.7M). Net loss narrowed to $3.8M ($0.34/diluted) from $9.8M ($0.72/diluted).
Negative Updates
Adjusted EBITDA Guidance Maintained Despite Revenue Upside
Company maintained full-year adjusted EBITDA guidance at $85M–$90M despite raising revenue guidance, citing inflationary pressures (diesel and broader costs) and customer cost discipline that may compress near-term margins.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Consolidated Top-Line and Margin Expansion
Total revenue of $172.7M in Q1 2026, up ~20% year-over-year (from $144M). Adjusted EBITDA of $22.5M, up 78% YoY (from $12.7M). Net loss narrowed to $3.8M ($0.34/diluted) from $9.8M ($0.72/diluted).
Read all positive updates
Company Guidance
Civeo raised its full‑year 2026 revenue guidance to $675–700 million (up from $650–700M), with the midpoint implying roughly 8% revenue growth, while maintaining adjusted EBITDA guidance of $85–90 million due to temporary inflationary pressures (notably higher diesel); 2026 capex is expected to be $25–30 million. Q1 results underpinning the outlook included revenue of $172.7M (+20% y/y), adjusted EBITDA of $22.5M (+78%), operating cash flow of negative $9.7M, capex $4.1M, and share repurchases of ~500,000 shares for ~$14.4M at an average $28.06; regionally Australia drove $123M of Q1 revenue and $21.8M of adjusted EBITDA (676k billed rooms, ARRs of $83 vs $75 LY), Canada delivered $49.6M revenue and $5.2M adjusted EBITDA (434k billed rooms, ARR $99 vs $93 LY). Balance sheet and liquidity metrics include total liquidity ~$68M, total debt $215M, net debt $199M (net leverage ~2.2x), an increased revolver to $285M with maturity extended to April 2030, and a live bid pipeline in excess of $1.5 billion (with 2,500 mobile camp rooms and ~7,000 redeployable lodge rooms positioned for North American opportunities).Civeo Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
42
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 667.47M | 638.85M | 682.12M | 700.80M | 697.05M | 594.46M |
| Gross Profit | 141.81M | 151.09M | 149.46M | 170.52M | 179.99M | 158.00M |
| EBITDA | 86.88M | 77.58M | 70.07M | 128.68M | 109.95M | 101.94M |
| Net Income | -14.04M | -20.07M | -17.07M | 30.16M | 4.00M | 1.35M |
Balance Sheet | ||||||
| Total Assets | 491.61M | 477.41M | 405.07M | 548.06M | 566.18M | 672.73M |
| Cash, Cash Equivalents and Short-Term Investments | 16.55M | 14.44M | 5.20M | 3.32M | 7.95M | 6.28M |
| Total Debt | 226.32M | 193.98M | 55.75M | 79.19M | 143.72M | 192.85M |
| Total Liabilities | 330.86M | 303.03M | 168.07M | 225.02M | 262.48M | 309.62M |
| Stockholders Equity | 160.75M | 174.38M | 236.37M | 320.17M | 300.14M | 361.50M |
Cash Flow | ||||||
| Free Cash Flow | 1.99M | 2.15M | 57.37M | 64.93M | 66.35M | 72.96M |
| Operating Cash Flow | 21.04M | 22.34M | 83.51M | 96.56M | 91.77M | 88.53M |
| Investing Cash Flow | -88.94M | -90.11M | -14.94M | -14.52M | -8.95M | -706.00K |
| Financing Cash Flow | 53.96M | 74.72M | -65.20M | -86.80M | -79.66M | -86.51M |
Civeo Technical Analysis
Neutral
30.18
Price Trends
32.27
Positive
29.88
Positive
26.28
Positive
Market Momentum
0.44
Positive
47.73
Neutral
18.18
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVEO, the sentiment is Neutral. The current price of 30.18 is below the 20-day moving average (MA) of 34.35, below the 50-day MA of 32.27, and above the 200-day MA of 26.28, indicating a neutral trend. The MACD of 0.44 indicates Positive momentum. The RSI at 47.73 is Neutral, neither overbought nor oversold. The STOCH value of 18.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CVEO.
Civeo Risk Analysis
Civeo disclosed 37 risk factors in its most recent earnings report. Civeo reported the most risks in the "Production" 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $1.33B | 44.47 | 5.44% | ― | -49.16% | -91.38% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $1.19B | 26.17 | 2.62% | ― | -0.02% | -154.82% | |
59 Neutral | $1.88B | -43.61 | -11.10% | ― | -7.43% | -198.60% | |
54 Neutral | $364.52M | -26.41 | -7.72% | 4.25% | 1.13% | 25.94% |
* Consumer Cyclical Sector Average
CVEO
Civeo
33.33
11.23
50.81%
PRSU
Pursuit Attractions and Hospitality
48.87
21.61
79.27%
BV
BrightView Holdings
12.78
-2.76
-17.76%
TH
Target Hospitality
19.02
12.04
172.49%
Civeo Corporate Events
Executive/Board ChangesShareholder Meetings
Civeo Shareholders Approve Directors, Compensation and Equity Plan
Positive
May 27, 2026
At its 2026 Annual General Meeting of Shareholders, Civeo Corporation’s investors elected six nominees to serve as Class II and Class III directors and, on an advisory basis, approved the compensation packages of the company’s named ex...
Business Operations and StrategyPrivate Placements and Financing
Civeo Expands Syndicated Credit Facility to Enhance Flexibility
Positive
Apr 28, 2026
On April 23, 2026, Civeo Corporation entered into an Amended and Restated Syndicated Facility Agreement that replaces its prior 2021 facility, extending the maturity date to April 23, 2030 and increasing total aggregate revolving loan commitments ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.