Civeo reports Q3 EPS (36c), consensus (2c)

Reports Q3 revenue $176.3M, consensus $168.75M. As of September 30, Civeo (CVEO) had total liquidity of approximately $211.8M. “Our Australian segment continues to perform well generating solid growth driven by increased billed rooms at our Civeo-owned villages and new business with an existing integrated services customer. As expected, the Canadian segment declined year-over-year with the ongoing wind-down of Canadian LNG-related activity. This decline was exacerbated by wildfire-related evacuations and delays as well as the effect of the previously discussed pull-forward of customer turnaround and operational activities. We are encouraged by the multi-year contract renewal with a major Canadian oil sands producer and believe this is a testament to our solid operational execution and our strong customer relationships,” said Bradley J. Dodson, Civeo’s President and CEO.