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.
Civeo (CVEO) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
HOUSTON--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that it has entered into a definitive asset purchase agreement with a private seller for Civeo to acquire four villages with 1,340 rooms in Australia's Bowen Basin and the associated long-term customer contracts. Under the terms of the agreement, Civeo would acquire the assets and customer contracts for total cash consideration of A$105 million, or approximately US$67 million, funded with cash on hand and borrowings from it.
Civeo Corporation provides accommodations for natural resource extraction industries in Canada and Australia, showing impressive debt reduction and trading at low valuation multiples. Despite recent revenue drops and mixed financial performance, the company's Australian segment saw significant growth, driven by higher occupancy and increased service demand. Net debt has drastically reduced from $166.9 million in 2021 to $32.2 million, enhancing financial flexibility and reducing long-term risk.
HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)--Civeo Corporation (NYSE:CVEO) announced today that its board of directors has declared a quarterly cash dividend of $0.25 per common share, payable on March 17, 2025 to shareholders of record as of close of business on February 24, 2025. For purposes of the Income Tax Act (Canada), the Company has designated this dividend to be an "eligible dividend". About Civeo: Civeo Corporation is a leading provider of hospitality services with prominent market p.
HOUSTON & SYDNEY--(BUSINESS WIRE)--Civeo Corporation (NYSE: CVEO) today announced that it was awarded a six-year contract extension with a leading resources player to provide integrated services at eleven villages in Western Australia, effective January 1, 2025. This contract expands Civeo's scope from operating seven villages to eleven villages. The new contract will incorporate catering and retail services; village, mine and port site cleaning services; facilities maintenance; and the provisi.
Civeo, which had been outperforming other micro-caps all through this year, is now underperforming its peer set after a weak Q3. The Canadian operations won't see a sequential pick-up in Q4 on account of seasonal challenges and higher de-mobilization costs, while the implied FCF guide for Q4 also looks weak. Despite challenges in Canada, Civeo's Australian segment shows strong growth, with its owned villages and integrated services seeing strong occupancy.
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.
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 Earnings Call. At this time, all participants are in a listen-only mode.
Civeo (CVEO) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of $0.03. This compares to earnings of $0.61 per share a year ago.