Civeo Q2 revenue rises 11%, beats analyst estimates

Civeo

30/07/2026 11:54

Overview
Hospitality services provider's Q2 revenue rose 11% yr/yr, beating analyst expectations
Company posted Q2 net loss of $2.5 mln, narrower than prior year
Civeo issued $115 mln in convertible notes and repurchased 660,297 shares for $22.3 mln after quarter-end

Outlook
Civeo maintains 2026 revenue guidance of $675 mln to $700 mln
Company maintains 2026 Adjusted EBITDA guidance of $85 mln to $90 mln
Civeo expects Canada operations to deliver about 20% revenue growth in H2 2026

Result Drivers
INTEGRATED SERVICES GROWTH - Increased integrated services activity in both Australia and Canada contributed to higher revenue
STRONGER AUSTRALIAN DOLLAR - Favorable currency movement boosted Australian segment revenue and Adjusted EBITDA
HIGHER CANADIAN OCCUPANCY - Higher occupancy and a new integrated services contract in Ontario drove Canadian revenue growth, though start-up costs weighed on profitability

Company press release: ID:nBw43f8Fja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$180.02 mln
$170.92 mln (3 Analysts)
Q2 Net Loss
 
$2.52 mln
 
Q2 Operating Income
 
$5.09 mln
 
Q2 Pretax Profit
 
$1.008 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 $38.00, about 16.9% above its July 29 closing price of $32.50

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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.)