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Civeo (CVEO) to Report Q4 Earnings: What's in the Cards?
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Civeo Corporation (CVEO - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 29, 2024, before the opening bell. In the previous quarter, CVEO delivered an earnings surprise of 190.5%.
What Do the Estimates Say?
The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged at 7 cents, indicating a growth of 107.1% from a loss of 98 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $151.1 million, suggesting a decline of 6.8% from the year-ago quarter’s figure.
Let’s analyze the factors that are likely to make an impact this earnings season.
Factors to Note
Civeo's fourth-quarter performance is likely to benefit from growth in customer demand for both owned-villages and integrated services business in Australia. This and robust occupancy rates in owned-villages, the stability of the oil sands portfolio and enhancements in the lodge portfolio are anticipated to have positively contributed to the company's performance in the fourth quarter. The Zacks Consensus Estimate for fourth-quarter total Australia revenues is projected to be at $81 million compared with $73 million reported in the prior-year quarter.
Increased focus on inflation mitigation plans and price adjustments are likely to have driven margin improvements in the to-be-reported quarter. The sale of the McClelland Lake Lodge and the securement of the transportation contract (associated with the sale and the demobilization and transportation of the assets) are expected to have positively impacted financials in the fourth quarter of 2023.
The decline in mobile camp activity (in Canada) attributed to the reduction of the Coastal GasLink pipeline project and seasonal patterns such as the conclusion of turnaround season and holiday downtime are likely to have negatively impacted the company’s fourth-quarter top line. The Zacks Consensus Estimate for the fourth-quarter total Canada revenues is projected to be $68 million compared with $88 million reported in the prior-year quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Civeo this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat on earnings. But that's not the case here.
Earnings ESP: Civeo has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3 at present.
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
HTHT’s earnings for the to-be-reported quarter are expected to surge by a whopping 616.7%. The company reported better-than-expected earnings in three of the trailing four quarters, the average surprise being 94.5%.
PVH Corp. (PVH - Free Report) has an Earnings ESP of +1.43% and a Zacks Rank of 2.
PVH’s earnings for the to-be-reported quarter are expected to increase 46.6%. Notably, the company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 18.9%.
Guess?, Inc. (GES - Free Report) has an Earnings ESP of +4.25% and a Zacks Rank of 3 at present.
GES is expected to register a 10.9% decline in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 43.1%.
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Civeo (CVEO) to Report Q4 Earnings: What's in the Cards?
Civeo Corporation (CVEO - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 29, 2024, before the opening bell. In the previous quarter, CVEO delivered an earnings surprise of 190.5%.
What Do the Estimates Say?
The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged at 7 cents, indicating a growth of 107.1% from a loss of 98 cents reported in the year-ago quarter.
For revenues, the consensus mark is pegged at nearly $151.1 million, suggesting a decline of 6.8% from the year-ago quarter’s figure.
Civeo Corporation Price and EPS Surprise
Civeo Corporation price-eps-surprise | Civeo Corporation Quote
Let’s analyze the factors that are likely to make an impact this earnings season.
Factors to Note
Civeo's fourth-quarter performance is likely to benefit from growth in customer demand for both owned-villages and integrated services business in Australia. This and robust occupancy rates in owned-villages, the stability of the oil sands portfolio and enhancements in the lodge portfolio are anticipated to have positively contributed to the company's performance in the fourth quarter. The Zacks Consensus Estimate for fourth-quarter total Australia revenues is projected to be at $81 million compared with $73 million reported in the prior-year quarter.
Increased focus on inflation mitigation plans and price adjustments are likely to have driven margin improvements in the to-be-reported quarter. The sale of the McClelland Lake Lodge and the securement of the transportation contract (associated with the sale and the demobilization and transportation of the assets) are expected to have positively impacted financials in the fourth quarter of 2023.
The decline in mobile camp activity (in Canada) attributed to the reduction of the Coastal GasLink pipeline project and seasonal patterns such as the conclusion of turnaround season and holiday downtime are likely to have negatively impacted the company’s fourth-quarter top line. The Zacks Consensus Estimate for the fourth-quarter total Canada revenues is projected to be $68 million compared with $88 million reported in the prior-year quarter.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Civeo this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat on earnings. But that's not the case here.
Earnings ESP: Civeo has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3 at present.
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these, too, have the right combination of elements to post an earnings beat.
H World Group Limited (HTHT - Free Report) has an Earnings ESP of +21.31% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
HTHT’s earnings for the to-be-reported quarter are expected to surge by a whopping 616.7%. The company reported better-than-expected earnings in three of the trailing four quarters, the average surprise being 94.5%.
PVH Corp. (PVH - Free Report) has an Earnings ESP of +1.43% and a Zacks Rank of 2.
PVH’s earnings for the to-be-reported quarter are expected to increase 46.6%. Notably, the company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 18.9%.
Guess?, Inc. (GES - Free Report) has an Earnings ESP of +4.25% and a Zacks Rank of 3 at present.
GES is expected to register a 10.9% decline in earnings for the to-be-reported quarter. The company reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 43.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.