Civeo Corp (NYSE:CVEO)

Q2 2026 Civeo Corp Earnings Call Transcript

Jul 30, 2026 / 01:30 PM GMT

Release Date Price: $32.01 (-1.51%)

Transcript 10-Q8-K

Key Points

Positve

Civeo Corp (CVEO) reported an 11% year-over-year increase in total revenues, reaching $180 million in Q2 2026.
The company completed a $115 million convertible debt offering, providing financial flexibility to pursue growth opportunities without issuing common equity at current prices.
Civeo Corp (CVEO)'s North American bid pipeline remains robust, with more than $1.5 billion in total contract value across LNG, infrastructure, and data center projects.
The company's Australian integrated services business is on track to achieve its goal of AUD 500 million in annual revenue by the end of 2027.
Civeo Corp (CVEO) repurchased approximately $36.7 million worth of shares year-to-date, demonstrating a strong commitment to returning capital to shareholders.
The company has 2,700 mobile camp rooms and 7,000-8,000 oil sands lodge rooms available for deployment, positioning it well for future North American projects.

Negative

Civeo Corp (CVEO)'s adjusted EBITDA decreased to $23.8 million in Q2 2026, down from $25 million in the prior-year period.
The company experienced transitory cost inflation in Australia, driven by elevated fuel costs and concerns around diesel availability due to Middle East seaborne trade dislocation.
Australian-owned village occupancy softened to approximately 675,000 billed rooms, down from 691,000 in Q2 2025, as customers operated conservatively.
Startup costs associated with the new integrated services contract in Ontario negatively impacted Canadian segment adjusted EBITDA, which fell to $6 million from $6.9 million.
The timing of meaningful financial contributions from the North American opportunity set remains largely outside of Civeo Corp (CVEO)'s control, dependent on customers' final investment decisions.
The company expects the temporary macro-driven headwinds in Australia to persist through the end of 2026, limiting near-term occupancy upside.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CVEO.N - Civeo Corp
Q2 2026 Civeo Corp Earnings Call
Jul 30, 2026 / 01:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Civio Corporation's second quarter 2026 earnings call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

If anyone requires operator assistance during the conference, please press *0 on your telephone keypad.

As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Regan Nielsen, Vice President, Corporate Development. You may begin.

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Unidentified_2 [2]
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