Civeo (CVEO) reported $150.95 million in revenue for the quarter ended December 2024, representing a year-over-year decline of 11.6%. EPS of -$0.88 for the same period compares to $0.06 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $166.15 million, representing a surprise of -9.15%. The company delivered an EPS surprise of -158.82%, with the consensus EPS estimate being -$0.34.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Financial Performance - Civeo reported fourth quarter 2024 revenues of $151.0 million, a net loss of $15.1 million, and operating cash flow of $9.5 million, with full year 2024 revenues of $682.1 million and a net loss of $17.1 million[3]. - Revenues for Q4 2024 were $150.951 million, a decrease of 11.6% from $170.799 million in Q4 2023[29]. - Total revenues for the twelve months ended December 31, 2024, were $682.122 million, down 2.7% from $700.805 million in 2023[29]. - Operating loss for Q4 2024 was $10.043 million compared to an operating income of $22.048 million in Q4 2023[29]. - Net loss attributable to Civeo Corporation for the twelve months ended December 31, 2024, was $17.067 million, compared to a net income of $30.157 million in 2023[29]. - EBITDA for the twelve months ended December 31, 2024, was $71.249 million, down 44.7% from $128.937 million in 2023[34]. - Adjusted EBITDA for the twelve months ended December 31, 2024, was $79.937 million, a decrease of 25.0% from $106.494 million in 2023[34]. - Adjusted EBITDA for Q4 2024 was $11,440, down 38.0% from $18,524 in Q4 2023[43]. - Free Cash Flow for the twelve months ended December 31, 2024, was $68,383, compared to $81,672 in 2023, a decrease of 16.3%[44]. Segment Performance - The Australian segment generated revenues of $110.0 million in Q4 2024, a 23% increase year-over-year, driven by a significant increase in integrated services activity[9][10]. - Civeo's Canadian segment experienced a 44% decrease in revenues to $40.7 million in Q4 2024, primarily due to lower billed rooms and occupancy[12][13]. - Total Australian revenues for Q4 2024 reached $109,989, an increase of 23.2% compared to $89,345 in Q4 2023[35]. - Total Canadian revenues for Q4 2024 were $40,664, a decrease of 44.1% from $72,728 in Q4 2023[35]. Shareholder Returns - The company returned $44.0 million to shareholders in 2024, representing 65% of free cash flow of $68.4 million[3]. - The company repurchased 1,130,000 shares for approximately $29.6 million in 2024, compared to 564,000 shares for $11.6 million in 2023[15]. Future Outlook - Civeo expects full year 2025 revenues of $630.0 million to $660.0 million and Adjusted EBITDA of $80.0 million to $90.0 million, excluding contributions from the recent Australian asset acquisition[19]. - For the year ending December 31, 2025, Civeo estimates an EBITDA range of $74.3 million to $84.3 million and an adjusted EBITDA range of $80.0 million to $90.0 million[48]. - The estimated net loss for the year ending December 31, 2025, is projected to be between $11.7 million and $3.7 million[49]. Balance Sheet and Liquidity - As of December 31, 2024, Civeo had total liquidity of approximately $202.2 million and total debt of $43.3 million, a decrease of $22.3 million from the previous year[14]. - Cash and cash equivalents increased to $5.204 million as of December 31, 2024, from $3.323 million at the end of 2023[30]. - Accounts receivable decreased significantly to $89.038 million in 2024 from $143.222 million in 2023, a decline of 37.8%[30]. - Total assets decreased to $405.072 million in 2024 from $548.062 million in 2023, a reduction of 26.1%[30]. - Total liabilities decreased to $168.074 million in 2024 from $225.024 million in 2023, a decline of 25.3%[30]. - As of December 31, 2024, Civeo's total debt was $43.3 million, with net debt amounting to $38.1 million after accounting for cash and cash equivalents of $5.2 million[46]. - The bank-adjusted EBITDA for the twelve months ended December 31, 2024, was $80.5 million, resulting in a net leverage ratio of 0.5x[46]. - The net leverage ratio as of December 31, 2024, was 0.5x, indicating a strong position relative to debt obligations[43]. Capital Expenditures and Costs - Civeo invested $26.1 million in capital expenditures for the full year 2024, down from $31.6 million in 2023[17]. - The company plans to incur one-time restructuring costs of approximately $3 million in Q1 2025 as it adjusts its Canadian cost structure[14]. - Total costs of sales and services in Australia for Q4 2024 were $81,157, up 29.7% from $62,563 in Q4 2023[35]. Management and Compensation - Civeo's management believes that free cash flow provides useful information regarding the cash flow generating ability of its business relative to capital expenditures and debt service obligations[45]. - The company uses free cash flow as a benchmark for the award of incentive compensation under its annual incentive compensation plan[45]. - Civeo's share-based compensation expense is associated with performance share awards, restricted share awards, restricted share units, and deferred share awards[45].

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -158.82%. A quarter ago, it was expected that this provider of remote-site workforce housing would post earnings of $0.03 per share when it actually produced a loss of $0.36, delivering a surprise of -1,300%.Over the last four q ...

Civeo (CVEO) shares rallied 7.5% in the last trading session to close at $26.90. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.6% gain over the past four weeks.Shares of Civeo surged following the announcement of a definitive asset purchase agreement with a private seller. The deal includes the acquisition of four villages in Australia’s Bowen Basin, adding 1,340 rooms along with long-term customer contra ...

For years now, one of the most interesting companies on the market, in my opinion, has been Civeo Corporation (NYSE: CVEO ). For those not familiar with the business, it provides accommodations and related services to companies inCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash flo ...

Core Insights - Civeo Corporation (NYSE: CVEO) is primarily engaged in providing accommodation and hospitality services for the natural resources industry, which constitutes 65% of its revenue [1] Financial Performance - The company had been performing well throughout the year until the release of its Q3 results [1]

Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2024 Q3November 05, 2024 5:20 PM EST | Source: Reportable, Inc. 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. In 3Q24, CVEO produced $28.3M in FCF, building on the $30.9M achieved in 2Q24. This quarter's FCF, whil ...

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 Earning ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |------------------------------------------------------------------------------|------------------------------------------| | | | | For the transition period from ________ ...

Core Insights - Civeo reported revenue of $176.34 million for Q3 2024, a year-over-year decline of 3.9%, with an EPS of -$0.36 compared to $0.61 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $172.59 million, resulting in a surprise of +2.18%, while the EPS fell short of the consensus estimate of $0.03, leading to an EPS surprise of -1300.00% [1] Revenue Breakdown - Geographic Revenues from Australia were $116.62 million, surpassing the average estimate of $105.20 million, reflecting a year-over-year increase of +32.7% [3] - Geographic Revenues from Canada were $57.74 million, below the estimated $66.86 million, indicating a year-over-year decline of -39.3% [3] - Revenues from Corporate, other, and eliminations reached $1.98 million, exceeding the average estimate of $0.57 million, marking a significant year-over-year increase of +264.6% [3] Stock Performance - Civeo's shares have returned +1.1% over the past month, compared to the Zacks S&P 500 composite's +1.8% change [4] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [4]