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

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.

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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.

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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.

Source: Stonegate, Inc.

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