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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10-Q - Civeo Corp (0001590584) (Filer)
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
Civeo Corporation (NYSE:CVEO) today announced that it was awarded a six-year contract extension with a leading resources player to provide integrated services at eleven villages in Western Australia, effective January 1, 2025. This contract expands Civeo's scope from operating seven villages to eleven villages. The new contract will incorporate catering and retail services; village, mine and port site cleaning services; facilities maintenance; and the provision of health and wellbeing solutions. It is anticipated the six-year contract will generate approximately A$1.4B in revenues over the 2025-2030 contract period. Civeo has been operating the four additional villages under a Limited N
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
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its third quarter 2024 earnings conference call for Wednesday, October 30th, 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 third quarter 2024, which will be released before the market opens on Wednesday, October 30, 2024. 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: 13749748# at least 10 minutes prior to the start time. A replay will be available through November 6th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the
Civeo Corporation (NYSE:CVEO) announced today that its Board of Directors has renewed its share repurchase authorization for the Company to repurchase up to 5% of its total common shares outstanding over the next twelve months. Civeo may repurchase shares through open market repurchases and/or privately negotiated transactions, and intends to fund repurchases through cash on hand and cash generated from operations. The timing, price and quantity of repurchases under the repurchase plan will be at the discretion of Civeo and will depend on various factors, including the Company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regula
Civeo Corporation (NYSE:CVEO) announced today the completion of an amendment and extension to its credit agreement which encompasses all of Civeo's outstanding debt structure of three revolving credit facilities. The following are key aspects of the amended credit agreement: Extends the maturity date of the credit agreement to August 2028; Upsizes total revolving credit facility capacity to $245 million from $200 million; and Reduces borrowing costs and maintains previous max net leverage ratio and max interest coverage covenant levels. "We are pleased to announce this amendment and extension, which allows Civeo more flexibility to execute on our capital allocation priorities su
Second Quarter Highlights include: Reported revenues of $188.7 million, net income of $8.2 million and operating cash flow of $32.4 million; Delivered Adjusted EBITDA of $31.3 million and free cash flow of $30.9 million; Australian segment continues to deliver strong growth, with revenues up 32% on a year-over-year basis, driven by both increased occupancy at Civeo-owned villages and continued growth in our integrated services offering; and Returned $10.3 million of capital to shareholders in the quarter through the quarterly dividend and share repurchases. Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the second quarter ended June 30, 2024.
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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
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its third quarter 2024 earnings conference call for Wednesday, October 30th, 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 third quarter 2024, which will be released before the market opens on Wednesday, October 30, 2024. 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: 13749748# at least 10 minutes prior to the start time. A replay will be available through November 6th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the
Civeo Corporation (NYSE:CVEO) announced today the completion of an amendment and extension to its credit agreement which encompasses all of Civeo's outstanding debt structure of three revolving credit facilities. The following are key aspects of the amended credit agreement: Extends the maturity date of the credit agreement to August 2028; Upsizes total revolving credit facility capacity to $245 million from $200 million; and Reduces borrowing costs and maintains previous max net leverage ratio and max interest coverage covenant levels. "We are pleased to announce this amendment and extension, which allows Civeo more flexibility to execute on our capital allocation priorities su
Second Quarter Highlights include: Reported revenues of $188.7 million, net income of $8.2 million and operating cash flow of $32.4 million; Delivered Adjusted EBITDA of $31.3 million and free cash flow of $30.9 million; Australian segment continues to deliver strong growth, with revenues up 32% on a year-over-year basis, driven by both increased occupancy at Civeo-owned villages and continued growth in our integrated services offering; and Returned $10.3 million of capital to shareholders in the quarter through the quarterly dividend and share repurchases. Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the second quarter ended June 30, 2024.
Civeo Corporation (NYSE:CVEO) announced today that it has scheduled its second quarter 2024 earnings conference call for Tuesday, July 30th, 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 second quarter 2024, which will be released before the market opens on Tuesday, July 30, 2024. 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: 13747979# at least 10 minutes prior to the start time. A replay will be available through August 6th by dialing 844-512-2921 inside the U.S. or 412-317-6671 internationally and using the confere
First Quarter Highlights include: Reported revenues of $166.1 million, net loss of $5.1 million and operating cash flow of $6.0 million; Delivered Adjusted EBITDA of $17.3 million and free cash flow of $7.2 million; Continued to return capital to shareholders through the quarterly dividend and share repurchase program; and Completed the previously announced sale of McClelland Lake Lodge in January and continue to assess additional potential associated revenue opportunities. Civeo Corporation (NYSE:CVEO) today reported financial and operating results for the first quarter ended March 31, 2024. "Through continued safe and effective operations, our first quarter 2024 result
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
Stifel Nicolaus resumed coverage of Civeo with a rating of Buy and set a new price target of $2.50
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