CVEO Earnings Prediction
The chart below shows how CVEO performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CVEO sees a +2.60% change in stock price 10 days leading up to the earnings, and a -0.02% change 10 days following the report. On the earnings day itself, the stock moves by -0.32%. This data can give you a slight idea of what to expect for the next quarter's release.
CVEO Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
176.34M
-3.94%
-6.56%
Gross Margin
11.54%
-41.75%
-29.33%
Operating Margin
0.12%
-98.63%
-98.28%
Net Margin
-3.00%
-159.76%
-175.57%
EPS
-0.36
-159.02%
-164.29%
No Data Available
CVEO Earnings Analysis
Civeo Corporation Corporation (CVEO.N) Earnings Conference Call
Positive
Australian Revenue Surge: 1. Strong Australian Performance: Australian segment revenues increased by 33% year-over-year, reaching $116.6 million, with adjusted EBITDA rising 19% to $22.5 million due to increased billed rooms and integrated services activity.
Major Contract Renewal: 2. Significant Contract Renewal: Civeo secured a 33-month contract renewal with a major Canadian oil sands producer, expected to generate approximately CAD150 million in total contracted revenues through June 2027.
Strong Cash Flow Performance: 3. Robust Cash Flow Generation: The company reported operating cash flow of $35.7 million and free cash flow of $28.3 million in Q3 2024, demonstrating strong cash generation capabilities despite a net loss.
Shareholder Returns Overview: 4. Shareholder Returns: Civeo returned $17.8 million to shareholders through dividends and share repurchases in Q3 2024, contributing to a total of $35 million year-to-date.
Enhanced Financial Flexibility: 5. Improved Capital Structure: The company extended its credit agreement maturity to August 2028 and increased its revolving credit facility capacity to $245 million, enhancing financial flexibility.
Negative
Canadian Revenue Decline: 1. Decline in Canadian Revenues: Civeo's Canadian segment revenues fell to $57.7 million in Q3 2024, down from $95.1 million in Q3 2023, reflecting a decrease of 39.3% year-over-year due to the wind-down of LNG-related activity and wildfires.
Adjusted EBITDA Decline: 2. Significant Drop in Adjusted EBITDA: Adjusted EBITDA for the Canadian segment plummeted to $3.4 million in Q3 2024, a stark decline from $23.2 million in the same quarter last year, representing a decrease of 85.4%.
Net Loss Announcement: 3. Net Loss Reported: The company reported a net loss of $5.1 million or $0.36 per diluted share for Q3 2024, indicating financial struggles compared to previous periods.
Decline in Canadian Lodging: 4. Lower Billed Rooms in Canada: Billed rooms in Canadian lodges decreased to 484,000 in Q3 2024, down from 726,000 in Q3 2023, marking a decline of 33.3% due to wildfires and operational delays.
Revised Revenue and EBITDA Outlook: 5. Tightened Revenue and EBITDA Guidance: Civeo tightened its full-year 2024 revenue guidance to a range of $675 million to $700 million and adjusted EBITDA guidance to $83 million to $88 million, indicating a more pessimistic outlook than previously anticipated.
CVEO FAQs
How does CVEO typically perform around its earnings report dates?
Is Civeo Corporation (CVEO) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
CVEO Earning Call Sentiment
Civeo Corporation (CVEO) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CVEO.N
1.3%Positive
The earnings call reveals several negative factors: a significant decline in total revenues, net loss, and adjusted EBITDA, primarily due to poor Canadian performance. While Australian operations are strong, the overall financial picture is weak. The Q&A highlights uncertainties, such as impacts from wildfires and unclear guidance for Q4. Despite shareholder returns and liquidity, these issues, coupled with a weak Canadian outlook, suggest a negative sentiment. The lack of market cap data limits precise prediction, but given the negative financials and uncertainties, a negative stock reaction is anticipated.
