Compared to Estimates, Civeo (CVEO) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Civeo (CVEO) reported revenue of $178.84 million, down 3.3% over the same period last year. EPS came in at $0.30, compared to $0.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $173.59 million, representing a surprise of +3.03%. The company delivered an EPS surprise of -3.23%, with the consensus EPS estimate being $0.31.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Civeo performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenues- Canada: $95.47 million versus $97.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -12.4% change.
Geographic Revenues- Other: $0.83 million versus $1 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -89.8% change.
Geographic Revenues- Australia: $82.54 million versus the two-analyst average estimate of $77.98 million. The reported number represents a year-over-year change of +21.7%.
View all Key Company Metrics for Civeo here>>>
Shares of Civeo have returned -3.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Civeo Corporation (CVEO) : Free Stock Analysis Report
