Curated News
By: NewsRamp Editorial Staff
May 07, 2025
Stonegate Capital Partners Updates Coverage on Civeo Corporation with Acquisition in Australian Bowen Basin
TLDR
- CVEO closed acquisition of four villages in Australian Bowen Basin, boosting revenue & EBITDA, expanding contract coverage.
- Civeo's revenue and EBITDA performance compared to estimates, driven by Canadian and Australian segment weaknesses and strengths.
- Civeo's acquisition expands presence, creates new jobs, and helps meet coal producers through take-or-pay contracts, benefiting the community.
- Stonegate Capital Partners update coverage on Civeo Corporation, highlighting revenue and EBITDA figures, acquisition impact, and segment performance.
Impact - Why it Matters
This news highlights the financial performance and strategic moves of Civeo Corporation, shedding light on their operations in both the Canadian and Australian segments. The acquisition in the Australian Bowen Basin is expected to have a positive impact on the company's revenue and EBITDA. Investors and industry observers should take note of Civeo's revised guidance and strategic expansion plans.
Summary
Stonegate Capital Partners updates their coverage on Civeo Corporation, reporting on their revenue, adj EBITDA, and adj EPS. Despite underperformance in the Canadian segment, Civeo closed a significant acquisition in the Australian Bowen Basin, boosting revenue and EBITDA. The company revised its 2025 guidance following the acquisition, with a focus on disciplined capital deployment.
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 with Acquisition in Australian Bowen Basin
