Curated News
By: NewsRamp Editorial Staff
December 29, 2024
Stonegate Capital Partners Updates Coverage on Civeo Corporation's Positive Free Cash Flow Generation
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GithubTLDR
- Civeo Corp maintains positive free cash flow and raises full-year 2024 guidance, highlighting financial strength.
- Civeo Corp reported revenue, adj EBITDA, and adj EPS with Canadian and Australian market analysis.
- Civeo Corp's commitment to enhancing shareholder returns reflects strategic financial health and operational success.
- Civeo Corp's successful contract renewal and strong growth in the Australian market make for compelling business dynamics.
Impact - Why it Matters
This news is important as it highlights Civeo Corporation's financial health and strategic commitment to enhancing shareholder returns. Investors can gain insights into the company's performance, capital allocation, segmented results, and future guidance, allowing for informed decision-making.
Summary
Stonegate Capital Partners updates their coverage on Civeo Corporation, noting consistent positive free cash flow generation. In 3Q24, CVEO produced $28.3M in FCF and updated its full-year 2024 guidance to $45.0M-$50.0M. The Canadian segment faced revenue challenges due to the wind-down of LNG activities, while the Australian segment saw strong growth.
Source Statement
This curated news summary relied on this press release disributed by Reportable. Read the source press release here, Stonegate Capital Partners Updates Coverage on Civeo Corporation's Positive Free Cash Flow Generation
