Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile accommodations, including modular, skid-mounted accommodation, and central facilities that provide long-term and temporary work force accommodations. It also offers food, housekeeping, and maintenance services, as well as laundry, facility management and maintenance, water and wastewater treatment, power generation, communication systems, security, and logistics services; and camp management services. In addition, the company provides development activities for workforce accommodation facilities, including site selection, permitting, engineering and design, manufacturing management, and site construction services, as well as catering and managed services. It owns and operates 28 lodges and villages with approximately 30,000 rooms; and a fleet of mobile accommodation assets. The company serves oil, mining, engineering, and oilfield and mining service companies. Civeo Corporation is headquartered in Houston, Texas.
IPO Year: 2014
Exchange: NYSE
Website: civeo.com
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Stifel Nicolaus resumed coverage of Civeo with a rating of Buy and set a new price target of $2.50
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Second Quarter Highlights: Reported revenues of $162.7 million, net loss of $3.3 million and Adjusted EBITDA of $25.0 million; Repurchased 883,000 common shares for $19.1 million at an average price of $21.64 per common share, or approximately 7% of Civeo's common shares outstanding as of March 31, 2025; Completed the previously announced acquisition of four villages in the Australian Bowen Basin; Awarded a previously announced four-year contract at Civeo's owned-villages in the Bowen Basin with expected revenues of A$250 million; and Awarded a previously announced three-year integrated services contract in the Bowen Basin with expected revenues of A$64 million. Civeo Corp
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its second quarter 2025 earnings conference call for Tuesday July 29th, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the second quarter 2025, which will be released before the market opens on Tuesday, July 29, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13755145# at least 10 minutes prior to the start time. A replay will be available through August 8th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the conference
Civeo Corporation (NYSE:CVEO) today announced that it was awarded a four-year contract renewal with a leading metallurgical coal producer to provide rooms and hospitality services from the Company's existing Coppabella, Moranbah and Nebo villages in the Australian Bowen Basin. The contract renewal is expected to generate approximately A$250 million in total revenues from 2025 to 2029. This contract renewal was contemplated in Civeo's latest full year 2025 revenue and Adjusted EBITDA guidance. "We appreciate our customer's continued trust in Civeo's operations and look forward to continuing to build on our longstanding relationship throughout this contract term and beyond. Our ability to
Civeo Corporation (NYSE:CVEO) today announced that it was awarded a three-year contract with a leading metallurgical coal producer to provide integrated services at two villages in the Australian Bowen Basin. This contract marks the first integrated services contract the Company has been awarded in Queensland. This producer is currently one of Civeo's largest customers at Civeo-owned villages. Services under the contract will commence in June 2025. The new contract incorporates onsite village catering, cleaning and maintenance services. It is anticipated the three-year contract will generate approximately A$64 million in revenues over the 2025-2028 contract period. This contract award was
Accretive acquisition strengthens Civeo's presence and deepens the Company's relationships with metallurgical coal producers in Basin Expected to add approximately US$32 million and US$17 million of annualized revenue and Adjusted EBITDA, respectively Civeo Corporation (NYSE:CVEO) has completed its previously announced acquisition of four villages with 1,340 rooms in Australia's Bowen Basin and the associated customer contracts for total cash consideration of A$105 million, or approximately US$67 million. The acquisition was funded with cash on hand and borrowings from Civeo's existing revolving credit facility. "We are pleased to have completed this important acquisition earlier than ex
Highlights: Reported revenues of $144.0 million, net loss of $9.8 million and Adjusted EBITDA of $12.7 million; Returned $6.8 million of capital to shareholders in the quarter through share repurchases and the quarterly dividend; Announced updates to its capital allocation framework, including the increase of Civeo's share repurchase authorization from 10% to 20% of shares outstanding and the suspension of its quarterly cash dividend; and Continued progress toward completing the previously announced acquisition of four villages in the Australian Bowen Basin, with the transaction expected to close in the second quarter of 2025. Civeo Corporation (NYSE:CVEO) today reported financial
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its first quarter 2025 earnings conference call for Wednesday April 30th, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the first quarter 2025, which will be released before the market opens on Wednesday, April 30, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13753431# at least 10 minutes prior to the start time. A replay will be available through May 10th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the conference
Civeo Corporation (NYSE:CVEO) announced today that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to 10% of its total common shares outstanding over the next twelve months. The Company recently completed its previous share repurchase authorization, which was announced on September 11, 2024 and covered 5% of the then total common shares outstanding. Since the Company instituted its share repurchase program in 2021, Civeo has repurchased approximately 20% of its fully-diluted shares outstanding. Bradley J. Dodson, Civeo's President and Chief Executive Officer, said, "This new repurchase authorization is a testament to the value
Civeo Corporation (NYSE:CVEO) acknowledges the recent shareholder letter issued by Engine Capital LP, a shareholder of the Company. Bradley J. Dodson, Civeo's President and Chief Executive Officer, said, "We appreciate the input of our shareholders and will closely review the letter. The Civeo Board and management team regularly review options to create long-term value, including our capital allocation priorities, cost structure and other opportunities. We welcome a continued open dialogue with Engine Capital and other shareholders toward our shared goal of enhancing value for all shareholders." About Civeo: Civeo Corporation is a leading provider of hospitality services with prominent m
Asserts that Civeo Is Meaningfully Undervalued in the Public Market at ~3.6x EV to 2025 EBITDA Multiple Believes the Board Should Eliminate the Dividend, Aggressively Repurchase Shares, Target a 1.75x Leverage Ratio and Significantly Reduce Costs to Deliver ~$47 per Share for Shareholders in Standalone Scenario Highlights How a Sale of Civeo Could Provide an Alternate Path to Delivering Significant Value Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 9.8% of Civeo Corporation's (NYSE:CVEO) ("Civeo" or the "Company") outstanding shares, today sent a letter to the Company's Board of Directors outlining several opportunities to close Civeo's sig
Live Leadership Updates
Fraser brings extensive U.S., Canadian and international executive management experience Al Schoening to retire after 13-year career at Civeo Civeo Corporation ("Civeo" or the "Company") (NYSE:CVEO) today announced the appointment of Andrew "Andy" S. Fraser, a dynamic and experienced leader, as President, Canada, effective August 19, 2024. He succeeds Al Schoening, Senior Vice President, Canada, who will retire after serving 13 years at Civeo. Mr. Schoening will work closely with Mr. Fraser to ensure a smooth transition and is expected to remain a consultant for the Company for a period after his retirement. Mr. Fraser brings extensive international executive management experience in
Seasoned financial leader brings deep experience in energy, operations and investor engagement Civeo Corporation ("Civeo" or the "Company") (NYSE:CVEO) today announced the appointment of E. Collin Gerry as the Company's new Senior Vice President, Chief Financial Officer ("CFO") and Treasurer, effective August 1, 2024, following a comprehensive search process. Barclay Brewer, who served as interim CFO, will assume the role of Vice President, Chief Accounting Officer and will support Mr. Gerry during this transition. Mr. Gerry has held several executive positions with Civeo since May 2014, including serving as Senior Vice President of Canadian Operations since May 2020, and Vice President
Civeo Corporation (NYSE:CVEO) announced today that its Board of Directors elected Jay Grewal and Michael Montelongo as members of its Board of Directors effective August 15, 2021. Ms. Grewal has been appointed as a Class III Director with an initial term expiring in May 2023 and will serve on the Company's Audit Committee and Finance and Investment Committee. Mr. Montelongo has been appointed as a Class I Director with an initial term expiring in May 2024 and will serve on the Company's Compensation Committee and Nominating and Corporate Governance Committee. Prior to August 15, 2021, Ms. Grewal and Mr. Montelongo will serve as observers at meetings of the Board. "On behalf of our Board of
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SC 13G/A - Civeo Corp (0001590584) (Subject)
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Second Quarter Highlights: Reported revenues of $162.7 million, net loss of $3.3 million and Adjusted EBITDA of $25.0 million; Repurchased 883,000 common shares for $19.1 million at an average price of $21.64 per common share, or approximately 7% of Civeo's common shares outstanding as of March 31, 2025; Completed the previously announced acquisition of four villages in the Australian Bowen Basin; Awarded a previously announced four-year contract at Civeo's owned-villages in the Bowen Basin with expected revenues of A$250 million; and Awarded a previously announced three-year integrated services contract in the Bowen Basin with expected revenues of A$64 million. Civeo Corp
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its second quarter 2025 earnings conference call for Tuesday July 29th, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the second quarter 2025, which will be released before the market opens on Tuesday, July 29, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13755145# at least 10 minutes prior to the start time. A replay will be available through August 8th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the conference
Highlights: Reported revenues of $144.0 million, net loss of $9.8 million and Adjusted EBITDA of $12.7 million; Returned $6.8 million of capital to shareholders in the quarter through share repurchases and the quarterly dividend; Announced updates to its capital allocation framework, including the increase of Civeo's share repurchase authorization from 10% to 20% of shares outstanding and the suspension of its quarterly cash dividend; and Continued progress toward completing the previously announced acquisition of four villages in the Australian Bowen Basin, with the transaction expected to close in the second quarter of 2025. Civeo Corporation (NYSE:CVEO) today reported financial
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its first quarter 2025 earnings conference call for Wednesday April 30th, at 7:30 a.m. Central Time (8:30 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the first quarter 2025, which will be released before the market opens on Wednesday, April 30, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13753431# at least 10 minutes prior to the start time. A replay will be available through May 10th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the conference
Asserts that Civeo Is Meaningfully Undervalued in the Public Market at ~3.6x EV to 2025 EBITDA Multiple Believes the Board Should Eliminate the Dividend, Aggressively Repurchase Shares, Target a 1.75x Leverage Ratio and Significantly Reduce Costs to Deliver ~$47 per Share for Shareholders in Standalone Scenario Highlights How a Sale of Civeo Could Provide an Alternate Path to Delivering Significant Value Engine Capital LP (together with its affiliates, "Engine" or "we"), which owns approximately 9.8% of Civeo Corporation's (NYSE:CVEO) ("Civeo" or the "Company") outstanding shares, today sent a letter to the Company's Board of Directors outlining several opportunities to close Civeo's sig
Highlights: Reported fourth quarter 2024 revenues of $151.0 million, net loss of $15.1 million and operating cash flow of $9.5 million, with full year 2024 revenues of $682.1 million, net loss of $17.1 million and operating cash flow of $83.5 million; Reported fourth quarter 2024 Adjusted EBITDA of $11.4 million with full year 2024 Adjusted EBITDA of $79.9 million; Returned $44.0 million of capital to shareholders in 2024 through the quarterly dividend and share repurchases, representing 65% of 2024 free cash flow of $68.4 million; Recently announced a six-year A$1.4 billion Australian integrated services contract renewal with expanded scope, showing strength of Civeo's long-ter
Civeo executes on growth strategy with disciplined and accretive acquisition Highlights: Transaction expands Civeo's Australian owned-village portfolio in the world's premier metallurgical coal basin, the Bowen Basin; Civeo enters the Blackwater region, extending its unmatched presence and capabilities across the wider Bowen Basin; Solid contract coverage with new and existing, blue-chip, metallurgical coal producers under take-or-pay contracts; Civeo will purchase the four villages for A$105 million, or approximately US$67 million, funded with cash on hand and borrowings under the Company's existing credit agreement; and Expects annualized revenue and EBITDA of approximately A$5
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its fourth quarter 2024 earnings conference call for Thursday, February 27th, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the fourth quarter 2024, which will be released before the market opens on Thursday, February 27, 2025. By Phone: Dial 877-423-9813 inside the U.S. or 201-689-8573 internationally and ask for the Civeo call or provide the conference ID: 13751856# at least 10 minutes prior to the start time. A replay will be available through March 6th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the c
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 positions in the Canadian oil sands and the Australian natural resource regions. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, hou
Third Quarter Highlights include: Reported revenues of $176.3 million, net loss of $5.1 million and operating cash flow of $35.7 million; Delivered Adjusted EBITDA of $18.8 million and free cash flow of $28.3 million; Returned $17.8 million of capital to shareholders in the quarter through the quarterly dividend and share repurchases; Australian segment continues to deliver strong growth, with revenues up 33% on a year-over-year basis, driven by both increased occupancy at Civeo-owned villages and continued growth in our integrated services offering; and Today announced a 33-month contract renewal with a major Canadian oil sands producer to continue providing accommodations and ho