Civeo Q1 revenue beats analyst estimates; ups FY sales forecast

Civeo

01/05/2026 11:41

Overview

US hospitality services provider's Q1 revenue grew 20% yr/yr, beating analyst expectations

Adjusted EBITDA rose 78% yr/yr, driven by Australian acquisitions and Canadian margin gains

Company repurchased 0.5 mln shares, about 4% of shares outstanding

Outlook

Civeo raises 2026 revenue guidance to $675 mln-$700 mln from $650 mln-$700 mln

Company maintains 2026 Adjusted EBITDA guidance at $85 mln-$90 mln

Civeo says it sees a growing pipeline of North American infrastructure-related opportunities

Result Drivers

AUSTRALIAN ACQUISITIONS - Revenue growth in Australia was driven by the addition of recently acquired villages and increased integrated services activity

CANADIAN OCCUPANCY & COST CUTS - Canadian segment margin expansion was attributed to higher occupancy across key lodges and cost reduction initiatives implemented in 2025

CURRENCY IMPACT - Strengthened Australian dollar boosted reported revenues and Adjusted EBITDA

Company press release: ID:nBw5rKRrDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$172.67 mln
$154.70 mln (3 Analysts)
Q1 Net Income
-$3.80 mln
Q1 Operating Income
$3.12 mln
Q1 Pretax Profit
-$662,000


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 $34.50, about 8.2% above its April 30 closing price of $31.90

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.)