Stock Data
$0.70 (2.15%)
Asset Type
Common Stock
Exchange
NYSE
Currency
USD
Country
USA
Sector
CONSUMER CYCLICAL
Industry
LODGING
Civeo Corporation specializes in providing hospitality services tailored for the natural resource industry across Canada, Australia, and the United States. With a focus on developing comfortable and efficient lodges, villages, and mobile accommodations, Civeo caters to the short to medium-term housing needs of workers. Beyond lodging, the company offers comprehensive services including food, housekeeping, maintenance, and more. It supports the oil, mining, and engineering sectors, ensuring their workforce has quality living conditions, even in remote locations. Founded in 1977, Civeo is headquartered in Houston, Texas, demonstrating a long-standing commitment to excellence in workforce accommodations.
Civeo beat revenue by 5% but swung to a much steeper loss than expected, posting a 53% EPS miss as startup costs from a new Ontario contract and Australian occupancy softness overwhelmed top-line gains; the company is now raising capital via a $115 million convertible notes offering to fund North American infrastructure growth.
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