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Civeo (CVEO) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended March 2024, Civeo (CVEO) reported revenue of $166.12 million, down 0.9% over the same period last year. EPS came in at -$0.26, compared to -$0.42 in the year-ago quarter.

The reported revenue represents a surprise of +7.36% over the Zacks Consensus Estimate of $154.73 million. With the consensus EPS estimate being -$0.20, the EPS surprise was -30.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Civeo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Geographic Revenues- Canada: $67.16 million compared to the $64.31 million average estimate based on two analysts. The reported number represents a change of -24.9% year over year.

  • Geographic Revenues- Other International: $7.22 million compared to the $4.20 million average estimate based on two analysts.

  • Geographic Revenues- Australia: $91.74 million versus the two-analyst average estimate of $84.84 million. The reported number represents a year-over-year change of +19.2%.

View all Key Company Metrics for Civeo here>>>

Shares of Civeo have returned -3.8% over the past month versus the Zacks S&P 500 composite's -3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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