Civeo misses Q4 revenue estimates, sets additional share buyback

Reuters03-03 19:41

Civeo misses Q4 revenue estimates, sets additional share buyback

Overview

Hospitality services provider's Q4 revenue missed analyst expectations
Canadian segment improved margins due to cost-cutting initiatives
Company announced additional share repurchase authorization of up to 10%

Outlook

Civeo expects 2026 revenue between $650.0 mln and $700.0 mln
Company projects 2026 Adjusted EBITDA of $85.0 mln to $90.0 mln

Result Drivers

AUSTRALIAN REVENUE - Record annual revenues in Australia driven by acquisition of villages and increased services activity
CANADIAN MARGIN IMPROVEMENT - Cost-cutting initiatives led to margin improvement in Canadian operations

Company press release: ID:nBw9PQhG0a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Miss	$161.62 mln	$170.17 mln (3 Analysts)
Q4 Net Income		-$6.46 mln
Q4 Operating Income		-$135,000
Q4 Pretax Profit		-$3.57 mln

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 $30.50, about 9.6% above its March 2 closing price of $27.82

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. 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