Civeo Corporation: Some Favorable Narratives, But A Challenging Q4 Beckons
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Civeo Corporation, which had been outperforming other micro-caps, is now facing challenges. The company reported a weak Q3 and anticipates a challenging Q4 due to seasonal issues and higher costs in Canada. However, its Australian operations are showing strong growth.
November 14, 2024 | 1:45 pm
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Civeo Corporation is facing a challenging Q4 due to weak Canadian operations and higher costs, despite strong growth in Australia.
Civeo's weak Q3 performance and anticipated challenges in Q4, particularly in Canada due to seasonal issues and higher de-mobilization costs, suggest a negative short-term impact on the stock. However, the strong growth in Australia may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100