Civeo jumps on surprise profit, outlook upgrade

Civeo

25/10/2019 19:30

** Shares of Civeo Corp  CVEO.N , which provides workforce
accommodation to the natural resource industry, up ~11% at $1.13
in afternoon trade
    ** Posts surprise profit helped by strength in its Canada
and Australia businesses
    ** Raises FY 2019 adj. EBITDA forecast to between $98
mln-$102 mln from $95 mln-$101 mln
    ** 1st EPS beat in 3 qtrs
    ** Despite session moves, stock down ~21% this year

 (Reporting by Bharath Manjesh in Bengaluru)
 ((Bharath.ManjeshR@thomsonreuters.com;  outside U.S. +91 80
6749 8400;))