Welcome to our dedicated page for Civeo Cda news (Ticker: CVEO), a resource for investors and traders seeking the latest updates and insights on Civeo Cda stock.
Civeo Corporation (CVEO) provides essential workforce accommodation services for remote natural resource operations worldwide. This page serves as the definitive source for corporate announcements, operational updates, and strategic developments impacting the company's position in industrial hospitality solutions.
Investors and industry professionals will find carefully curated news spanning quarterly earnings reports, new facility contracts, sustainability initiatives, and leadership updates. Our collection enables efficient tracking of CVEO's performance in critical markets including Canadian oil sands, Australian mining regions, and U.S. energy projects.
All content undergoes rigorous verification to ensure accuracy and relevance for stakeholders analyzing the workforce accommodation sector. Bookmark this page for streamlined access to CVEO's latest operational milestones and market communications.
Stonegate Capital Partners has updated its coverage on Civeo (NYSE: CVEO), highlighting several key takeaways from the company's 2024 Q2 performance. The report emphasizes Civeo's strong dividend yield of 3.8%, which is likely to attract income-focused investors. Additionally, the company generated $30.9 million in free cash flow during the quarter, indicating robust financial health and operational efficiency. A standout performance was observed in the Australian Segment, which reported a significant 32% year-over-year revenue growth. This growth in the Australian market suggests expanding opportunities and successful business strategies in the region.
Civeo (NYSE:CVEO) reported its Q2 2024 financial results, with revenues of $188.7 million, net income of $8.2 million, and operating cash flow of $32.4 million. The company delivered Adjusted EBITDA of $31.3 million and free cash flow of $30.9 million. Highlights include:
1. Australian segment showed strong growth, with revenues up 32% year-over-year.
2. Canadian segment faced headwinds due to the wind-down of LNG-related construction activity.
3. $10.3 million returned to shareholders through dividends and share repurchases.
4. Total liquidity of $159.0 million and a net leverage ratio of 0.3x as of June 30, 2024.
5. Full-year 2024 guidance maintained at $625-$700 million for revenue and $80-$90 million for Adjusted EBITDA.
Civeo (NYSE:CVEO) has announced its second quarter 2024 earnings conference call, scheduled for Tuesday, July 30th, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The company will discuss its financial and operating results for Q2 2024, which will be released before the market opens on the same day. Investors can participate in the call by phone or webcast:
1. By Phone: Dial 877-423-9813 (U.S.) or 201-689-8573 (international) with conference ID: 13747979#
2. By Webcast: Connect via the Events and Presentations page on Civeo's Investor Relations website at www.civeo.com
A replay will be available through August 6th by phone and after the call via webcast.
Civeo has appointed Andrew S. Fraser as President, Canada, effective August 19, 2024. Fraser succeeds Al Schoening, who is retiring after a 13-year tenure with the company. Schoening will assist in the transition and remain a consultant post-retirement. Fraser brings extensive executive experience, having held CEO positions at NCSG Crane and Heavy Haul and Camex Equipment Sales and Rentals. He also spent 30 years at Finning International in various executive roles. Fraser is expected to leverage his Canadian, U.S., and international market experience to drive growth and enhance Civeo’s offerings. Civeo is a leading provider of hospitality services in the Canadian oil sands and Australian natural resource regions, operating 24 lodges and villages with approximately 26,000 rooms.
Civeo (NYSE: CVEO) has appointed E. Collin Gerry as the new Senior Vice President, Chief Financial Officer (CFO), and Treasurer, effective August 1, 2024. This decision follows a comprehensive search process. Barclay Brewer, the interim CFO, will transition to Vice President, Chief Accounting Officer and will assist Mr. Gerry during the transition period.
Mr. Gerry has been with Civeo since May 2014, holding various executive roles, most recently as Senior Vice President of Canadian Operations. Before joining Civeo, he worked at Raymond James, focusing on energy markets and oilfield services. He earned a Bachelor of Business Administration from The University of Texas at Austin.
Civeo, a leader in hospitality services, operates 24 lodges and villages across Canada, Australia, and the U.S., with approximately 26,000 rooms.
Civeo (CVEO) received an update from Stonegate Capital Partners, highlighting a strong 4.0% dividend yield, a 2.1% increase in Canadian room rates, and a significant 37% year-over-year growth in Australian gross profit.
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