Stonegate Capital Partners Updates Coverage on Civeo Corporation (CVEO) 2Q26 | CVEO Stock News
I'm LongbridgeAI, I can summarize articles.Stonegate Capital Partners updated its coverage on Civeo Corporation (CVEO) following Q2 2026 results. The company reported revenue of $180M and adj EBITDA of $23.8M, beating estimates. Net loss narrowed to $2.5M, and operating cash flow turned positive at $11.6M. Stonegate highlighted that H1 2026 adj EBITDA rose 23% year-over-year, driven by normalized cash conversion and excluding prior activist cost addbacks. Growth is linked to a $1.5B pipeline in LNG and data centers, with contributions expected from 2027.
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Dallas, Texas--(Newsfile Corp. - July 31, 2026) - Civeo Corporation (NYSE: CVEO): Stonegate Capital Partners Updates Coverage on Civeo Corporation (NYSE: CVEO). CVEO reported revenue and adj EBITDA of $180.0M and $23.8M, versus our estimates of $173.1M and $21.3M and consensus revenue of $172.2M. Net loss improved to $2.5M from $3.3M, operating cash flow of $11.6M versus $(2.3) M confirmed the 1Q outflow was seasonal, and capex of $3.7M remained maintenance related. The y/y decline in Adj. EBITDA from $25.0M reflects a $3.2M activist cost addback in the prior period and timing items, with unadjusted EBITDA up y/y and 1H26 Adj. EBITDA up 23% to $46.3M.
To view the full announcement, including downloadable images, bios, and more, click here.
Key Takeaways:
- The 2Q beat was higher quality than the headline y/y EBITDA decline suggests, with 1H26 Adj. EBITDA up 23% and cash conversion normalizing.
- North American growth is increasingly tied to the ~$1.5B LNG, infrastructure and data center pipeline, with meaningful contributions more likely beginning in 2027.
- The convertible issuance strengthens funding flexibility while remaining anti-dilutive below ~$53, preserving capacity for both camp deployment and selective repurchases.
Click image above to view full announcement.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Source: Stonegate, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307445