Civeo (NYSE:CVEO) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Key Points

• Civeo reported ($0.34) EPS for the quarter, beating the consensus ($0.61) by $0.27 and posted a strong start to 2026 with consolidated revenue up ~20% and Adjusted EBITDA up 78%.
• Management raised the lower end of full‑year revenue guidance to $675M–$700M (midpoint implying ~8% growth) but is maintaining full‑year Adjusted EBITDA guidance of $85M–$90M due to inflationary pressures and higher operating costs.
• The company says it is bidding on projects exceeding $1.5 billion and has deployable capacity to support growth, though near‑term timing, Australian labor shortages and customer Final Investment Decisions create execution risk.

Civeo (NYSE:CVEO - Get Free Report) released its earnings results on Friday. The business services provider reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.27, Zacks reports. Civeo had a negative return on equity of 10.20% and a negative net margin of 3.14%.

Here are the key takeaways from Civeo's conference call:

• Strong start to 2026 with consolidated revenue up ~20% and Adjusted EBITDA up 78%, driven by higher Canadian occupancy, Australian integrated services and acquired Australian villages, improved mobile camp utilization, FX tailwinds, and Canadian cost reductions.
• Management raised the lower end of full‑year revenue guidance to $675M–$700M, with the midpoint implying roughly 8% revenue growth for 2026.
• Civeo is maintaining its full‑year Adjusted EBITDA guidance of $85M–$90M due to expected inflationary pressures—notably higher diesel and supply‑chain dislocations from the Middle East—which are likely to compress margins in Australia and temper near‑term EBITDA upside.
• Pipeline and asset readiness are strong: the company is actively bidding on projects exceeding $1.5 billion, cites North America demand of 35k–50k rooms, and has deployable capacity (2,500 mobile rooms plus ~7,000 redeployable lodge rooms) that could drive growth if customers make FIDs.
• Near‑term timing and operational risks remain—Canadian turnaround activity is shifting later in the year (back‑half weighted), Australian labor shortages and some softness in legacy villages limit immediate upside, and many opportunities depend on customer Final Investment Decisions outside Civeo’s control.

Civeo Stock Performance

Shares of CVEO stock traded down $0.56 during mid-day trading on Friday, hitting $31.34. 142,599 shares of the stock were exchanged, compared to its average volume of 63,608. Civeo has a 12-month low of $18.60 and a 12-month high of $34.80. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.47 and a current ratio of 1.54. The stock has a market capitalization of $342.86 million, a price-to-earnings ratio of -19.96 and a beta of 0.65. The stock's fifty day simple moving average is $28.55 and its two-hundred day simple moving average is $25.34.

Insider Buying and Selling

In other news, major shareholder Engine Capital Management, Lp sold 9,169 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $29.03, for a total value of $266,176.07. Following the completion of the sale, the insider directly owned 65,461 shares of the company's stock, valued at approximately $1,900,332.83. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter Mccann sold 4,000 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $28.64, for a total transaction of $114,560.00. Following the completion of the sale, the senior vice president owned 50,942 shares of the company's stock, valued at approximately $1,458,978.88. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 430,184 shares of company stock valued at $12,390,768. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Civeo

Several institutional investors have recently bought and sold shares of the company. State of Wyoming acquired a new stake in shares of Civeo in the 2nd quarter worth $66,000. Goldman Sachs Group Inc. acquired a new position in shares of Civeo during the first quarter worth about $204,000. ExodusPoint Capital Management LP purchased a new position in Civeo during the fourth quarter worth about $573,000. Lido Advisors LLC lifted its position in Civeo by 12.7% in the fourth quarter. Lido Advisors LLC now owns 25,909 shares of the business services provider's stock valued at $596,000 after purchasing an additional 2,916 shares during the period. Finally, Empowered Funds LLC lifted its position in Civeo by 5.5% in the first quarter. Empowered Funds LLC now owns 106,318 shares of the business services provider's stock valued at $2,445,000 after purchasing an additional 5,570 shares during the period. 81.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their price objective on shares of Civeo from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.00.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta's oil sands, the Bakken shale play, and Australia's Pilbara and Bowen Basin mining districts.

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