Civeo (NYSE:CVEO) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$188.7m (up 5.5% from 2Q 2023).

• Net income: US$8.23m (up 84% from 2Q 2023).

• Profit margin: 4.4% (up from 2.5% in 2Q 2023).

• EPS: US$0.57 (up from US$0.30 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Civeo Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.4%. Earnings per share (EPS) also surpassed analyst estimates by 140%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.6% growth forecast for the Commercial Services industry in the US.

Performance of the American Commercial Services industry.

The company's shares are up 8.9% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Civeo (at least 1 which is a bit concerning), and understanding these should be part of your investment process.

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