Civeo (CVEO) Reports Q3 Earnings: What Key Metrics Have to Say

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]