Earnings Preview: Civeo (CVEO) Q3 Earnings Expected to Decline

Core Viewpoint - Civeo (CVEO) is anticipated to report a significant year-over-year decline in earnings due to lower revenues, with the upcoming earnings report expected on October 30, 2024 [1][2]. Financial Expectations - The consensus estimate for Civeo's quarterly earnings is $0.03 per share, reflecting a year-over-year decrease of 95.1% [2]. - Expected revenues for the quarter are $172.59 million, which is a 6% decline from the same quarter last year [2]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 3.95%, indicating a bearish sentiment among analysts regarding the company's earnings prospects [3]. - The Most Accurate Estimate for Civeo is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -540% [6]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with a strong predictive power for positive readings [4][5]. - Civeo currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat [6]. Historical Performance - In the last reported quarter, Civeo exceeded expectations by posting earnings of $0.56 per share against an expected $0.21, resulting in a surprise of +166.67% [7]. - Over the past four quarters, Civeo has beaten consensus EPS estimates three times [7]. Conclusion - While an earnings beat or miss can influence stock movement, other factors may also play a significant role in investor sentiment [8]. - Civeo does not currently appear to be a compelling candidate for an earnings beat, and investors should consider additional factors before making investment decisions [8].