Stonegate Capital Partners Revises Coverage on Civeo Corporation (CVEO) 2025 Q1

Rhea-AI Summary

Civeo Corporation (NYSE: CVEO) reported mixed Q1 2025 financial results with revenue of $144.0 million, falling short of consensus estimates of $148.1 million. The company posted an Adjusted EBITDA of $12.7 million and adjusted EPS of ($0.72). The underperformance was primarily attributed to weakness in both pricing and billed rooms volume in the Canadian segment, although the Australian segment showed robust performance.

CVEO updated its 2025 guidance following a recent acquisition, projecting revenue between $640-670 million and Adjusted EBITDA of $86-96 million. Additionally, the company announced an increase in its share repurchase authorization from 10% to 20% of shares outstanding while suspending its quarterly cash dividend.

Positive

• Increased share repurchase authorization from 10% to 20% of shares outstanding
• Robust performance in Australian segment
• Adjusted EBITDA of $12.7M exceeded company estimates of $12.0M

Negative

• Revenue of $144.0M missed consensus estimates of $148.1M
• Net loss of $9.8M in Q1 2025
• Weakness in Canadian segment's pricing and billed rooms volume
• Suspension of quarterly cash dividend

Dallas, Texas--(Newsfile Corp. - May 8, 2025) - Civeo Corporation (NYSE: CVEO): Stonegate Capital Partners updates their coverage on Civeo Corporation. CVEO reported revenue, adj EBITDA, and adj EPS of $144.0M, $12.7M, and ($0.72), respectively. This compares to our/consensus estimates of $150.7M/$148.1M, $12.0M/$14.8M, and ($0.84)/($0.43), respectively. Consolidated revenue fell short of expectations; this underperformance was driven by weakness in both pricing and billed rooms volume in the Canadian segment, despite the robust performance observed in the Australian segment.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• CVEO revised its 2025 guidance following the most recent acquisition, with revenue between $640M and $670M and Adj. EBITDA of $86M to $96M.
• Reported revenues of $144.0M, net loss of $9.8M and Adjusted EBITDA of $12.7M.
• CVEO announced a share repurchase authorization from 10% to 20% of shares outstanding, suspending its quarterly cash dividend.

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251292

FAQ

What were Civeo Corporation's (CVEO) Q1 2025 earnings results?

Civeo reported Q1 2025 revenue of $144.0M, Adjusted EBITDA of $12.7M, and adjusted EPS of ($0.72), with a net loss of $9.8M.

What is CVEO's revenue guidance for 2025?

Civeo revised its 2025 guidance to revenue between $640M and $670M, with Adjusted EBITDA of $86M to $96M.

Why did Civeo's stock miss revenue estimates in Q1 2025?

CVEO missed revenue estimates due to weakness in both pricing and billed rooms volume in the Canadian segment, despite strong performance in Australia.

What changes did CVEO make to its capital return program?

CVEO increased its share repurchase authorization from 10% to 20% of shares outstanding while suspending its quarterly cash dividend.