Stonegate Capital Partners Updates Coverage On Civeo Corporation (CVEO) Q126

May 04, 2026 9:45 AM EDT | Source: Reportable, Inc.

Dallas, Texas--(Newsfile Corp. - May 4, 2026) - Civeo Corporation (NYSE: CVEO) Stonegate Capital Partners Updates Coverage on Civeo Corporation (NYSE: CVEO). CVEO reported revenue and adj EBITDA of $172.7M and $22.5M, respectively. This compares to our/consensus estimates of $154.6M/$154.7M and $16.3M/$16.8M, respectively. Net loss improved to $3.8M from $9.8M in 1Q25, while operating cash flow was $(9.7)M, reflecting typical seasonal working capital use. Capex remained modest at $4.1M and was primarily maintenance-related. The key takeaway is not simply the revenue beat; rather, 1Q showed better Canadian margin conversion, continued Australian services contribution, and improving North American infrastructure visibility, partially offset by cost inflation and customer discipline that kept FY26 EBITDA guidance unchanged.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

FY26 EBITDA guidance stayed unchanged as diesel, labor inflation, and customer discipline limit near-term flow-through.

1Q26 upside was quality-driven, with Canada margin recovery and Australia services strength--not just revenue outperformance.

Improving Canada execution and stable Australia demand underpin more durable earnings and clearer forward visibility.

Click image above to view full announcement.

About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

MENAFN04052026004218003983ID1111067586