Overview

• Remote workforce housing services provider's Q3 revenue of $170.5 mln misses analyst expectations

• Company repurchased 1.05 mln shares, about 8% of outstanding shares

• Australian segment shows yr/yr and sequential revenue and EBITDA growth

Outlook

• Civeo tightens full-year 2025 revenue guidance to $640 mln-$655 mln

• Company maintains 2025 capital expenditure guidance at $20 mln-$25 mln

• Civeo optimistic about increased mobile camp utilization in Canada

Result Drivers

• AUSTRALIAN GROWTH - Revenue and EBITDA growth in Australia driven by acquisitions and increased occupancy

• CANADIAN COST CUTTING - Cost reductions in Canada led to gross margin expansion despite lower occupancy

• SHARE REPURCHASES - Civeo repurchased 1.05 mln shares, completing 69% of its buyback authorization

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

• Wall Street's median 12-month price target for Civeo Corp is $27.50, about 17.2% above its October 30 closing price of $22.77

• The stock recently traded at 522 times the next 12-month earnings vs. a P/E of 194 three months ago

Press Release: ID:nBw1Fny3Xa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)