Guido Mieth/DigitalVision via Getty Images Like any investor who has been in the game for a while, I've had my fair share of wins and losses. One of my biggest calls that so far has achieved fantastic results involves a small niche business by the name of Civeo Corporation (NYSE:CVEO). For the uninitiated, the company provides accommodation services in remote areas for natural resource extraction firms. This makes it easy for those businesses to provide suitable living conditions for workers instead of havi ...

Group 1: Specialty Chemicals - Perimeter Solutions (PRM) has shown significant growth in specialty chemicals, particularly in fire safety products, with Q2 2024 net sales increasing by 67% to $127.3 million from $76.1 million year-over-year [4] - Fire Safety sales specifically rose by 85%, from $53.1 million to $98.5 million, attributed to high market demand during an active fire season [4][5] - The company has a historical annual growth rate of 10% in Fire Safety volume, with expectations for continued growth due to new opportunities in prevention and protection [5][6] Group 2: Diversified Support Services - Civeo (CVEO) operates in diversified support services, with its Australian segment reporting a 32% revenue increase to $108.6 million in Q2 2024 from $82.5 million in Q2 2023 [7][8] - The growth was driven by a 6% increase in the number of billed rooms in Australian villages, rising from approximately 588,000 to 625,000, alongside a daily room rate increase from $75 to $78 [7][8] - Civeo aims to reach AUD 500 million in revenues by 2027, supported by effective pricing strategies and market demand [8][9] Group 3: Home Furnishings - Ethan Allen Interiors (ETD) reported fiscal 2024 net sales of $646.2 million, with Q4 sales reaching $168.6 million, the highest of the year [10] - Despite a decrease in net sales due to lower unit volumes, the company maintained solid gross margins and effectively managed expenses [10][12] - The company reduced marketing expenditures to 2.8% of sales, down from 4% five years ago, enhancing customer engagement through innovative digital marketing [12] Group 4: Consumer Finance - Regional Management (RM) reported a net income of $8.4 million in Q2 2024, a 37% increase from the previous year, with a loan portfolio growth of $29 million, reaching $1.8 billion [13][14] - The company achieved an 80 basis point increase in total revenue yield year-over-year, driven by higher pricing and improved credit performance [14][15] - LendingClub (LC) saw a 10% sequential rise in loan originations in Q2 2024, reaching $1.8 billion, reflecting successful product innovations and strong investor demand [22][23] Group 5: Marine Transportation - Global Ship Lease (GSL) secured over $400 million in contracted revenue in the first half of 2024, with over 85% locked in during Q2 [19][20] - The company increased its quarterly dividend by 20%, reflecting strong cash flow and confidence in market conditions [20][21] - GSL's forward contract cover totals $1.8 billion, ensuring a stable revenue stream and capitalizing on favorable market conditions [19][20] Group 6: Air Pollution Control - Fuel Tech (FTEK) specializes in air pollution control, reporting cash and investments of over $32 million with no long-term debt, providing financial flexibility for growth [16][18] - The company benefits from favorable regulatory outcomes, particularly the U.S. EPA's Cross-State Air Pollution Regulation, which could boost growth in 2024 [17][18] - Fuel Tech's consolidated gross margins increased to 40.9% in Q1 2024, up from 38.5% in the same period in 2023, enhancing profitability [18]

Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2024 Q2 To view the full announcement, including downloadable images, bios, and more, click here. . . Dallas, Texas--(Newsfile Corp. - July 31, 2024) - Civeo Corporation (NYSE: CVEO): Stonegate Capital Partners updates their coverage on Civeo Corporation. About Stonegate Capital Partners Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since ou ...

Financial Data and Key Metrics Changes - Total revenues for the second quarter were $188.7 million, with net income of $8.2 million or $0.56 per diluted share [6] - Adjusted EBITDA was $31.3 million, with a year-over-year increase of 10% from $19.6 million [7][32] - Operating cash flow was $32.4 million, and free cash flow was $30.9 million [6] - The net leverage ratio decreased to 0.3 times as of June 30, 2024, with total liquidity of approximately $159 million [19] Business Line Data and Key Metrics Changes - Australian segment revenues increased to $108.6 million from $82.5 million in the second quarter of 2023 [16] - Canadian segment revenues decreased to $79.5 million from $95.5 million year-over-year, with adjusted EBITDA down to $17.2 million from $19.8 million [17] - Daily room rate for the Canadian segment decreased to $96 from $100 year-over-year [8] Market Data and Key Metrics Changes - Australian billed rooms increased to 625,000, up 6% from 588,000 in the second quarter of 2023 [36] - Billed rooms in Canadian lodges totaled 752,000, up from 724,000 in the second quarter of 2023 [37] Company Strategy and Development Direction - The company aims to grow Australian Integrated Services revenues to AUD500 million by 2027 [25][45] - The focus is on winning additional contracts and expanding existing customer relationships in the Integrated Services business [29][25] - The company is exploring opportunities to acquire additional villages to augment its portfolio [80] Management's Comments on Operating Environment and Future Outlook - Management expects occupancy in Australian villages to remain consistent through the third quarter, with a slight downtick in the fourth quarter due to holiday downtimes [27] - The company anticipates modest results in the latter half of 2024 for Canada due to the shift in turnaround activity [23] - Management remains cautious about the impact of wildfires in Western Canada but does not expect a material financial impact [42] Other Important Information - The company returned $10.3 million to shareholders through dividends and share repurchases during the second quarter [4] - Capital expenditures for the second quarter were $5.3 million, down from $6.9 million in the same period in 2023 [38] - The company is maintaining its full-year 2024 revenue guidance of $625 million to $700 million and adjusted EBITDA guidance of $80 million to $90 million [40] Q&A Session Summary Question: What are the growth opportunities in Australia for the next couple of years? - Management expects occupancy in Australian villages to remain consistent and is looking to add capacity in Bowen Basin [27][49] Question: Can you frame the opportunities for future LNG expansions? - Management noted that the LNG Canada project is nearing first production, impacting activity at Sitka [55] Question: What are the high-level factors influencing 2025 outlook? - Management indicated that capital investment in own villages and winning new contracts in Integrated Services will be key [62] Question: What is the status of the source gas opportunity for LNG Canada? - Management stated that entry into the source gas market would likely require an acquisition [65] Question: How do you view the Canadian room rates and potential rebound? - Management explained that lower prices are tied to higher volumes due to tiered pricing structures, and prices are expected to rise as turnaround volumes decrease [101][102]

FORM 10-Q | --- | --- | |------------------------------------------------------------------------------|------------------------------------------| | | | | For the transition period from _________________________ to | _________________________ | | Commission file number: | 001-36246 | | Civeo Corporation | | | (Exact name of registrant as specified | in its charter) | | | | | British Columbia, Canada | 98-1253716 | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identific ...

Group 1: Earnings Performance - Civeo reported quarterly earnings of $0.56 per share, significantly exceeding the Zacks Consensus Estimate of $0.21 per share, and up from $0.30 per share a year ago, representing an earnings surprise of 166.67% [1] - The company posted revenues of $188.71 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 8.64% and increasing from $178.84 million year-over-year [2] Group 2: Stock Performance and Outlook - Civeo shares have increased approximately 10.2% since the beginning of the year, while the S&P 500 has gained 14.5%, indicating underperformance relative to the broader market [3] - The current consensus EPS estimate for the upcoming quarter is $0.23 on revenues of $169.71 million, and for the current fiscal year, it is -$0.51 on revenues of $665.18 million [6] Group 3: Industry Context - The Hotels and Motels industry, to which Civeo belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [7] - Hilton Worldwide Holdings Inc., another company in the same industry, is expected to report quarterly earnings of $1.85 per share, reflecting a year-over-year increase of 13.5%, with revenues anticipated to be $2.97 billion, up 11.8% from the previous year [8][9]

Civeo Reports Second Quarter 2024 Results Second Quarter Highlights include: HOUSTON and CALGARY, July 30, 2024 (BUSINESS WIRE) -- Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the second quarter ended June 30, 2024. "In the second quarter of 2024, we delivered increased billed rooms year-over-year in our Canadian lodges and Australian owned-villages as well as increased Australian integrated services business with existing clients. These year-over-year improvements were o ...

H a 1 - all E T t 110 1 i in il i t 1 One of my favorite companies to write about, historically speaking, has been the little-known accommodations business by the name of Civeo Corp (NYSE:CVEO). The company operates by building accommodation facilities in remote parts of the world where natural resource extraction is popular. It then rents these properties out, sometimes on a room-by-room basis and other times on a lodge-by-lodge basis, to companies that engage in the natural resource extraction industry. L ...

Investment Thesis Company Overview, And The Australian Segment Source: Company's Website Lone Investment Capital The operating results for the first quarter have shown sustained growth in revenues from the Australian segment, which reached $92.1 million over the $62 million generated from activity in Canada. In my view, the variations with respect to the previous year are explained by the reduction of activities in the liquefied natural gas industry in Canada and the increase in activity in Australia in gen ...

Have you evaluated the performance of Civeo's (CVEO) international operations for the quarter ending March 2024? Given the extensive global presence of this provider of remote-site workforce housing, analyzing the patterns in international revenues is crucial for understanding its financial strength and potential for growth.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth tr ...