Added to YB: 2026-03-13
Pitch date: 2026-03-11
CVEO [bullish]
Civeo Corporation
+0.17%
current return
Author Info
Guasty Winds is a former L/S hedge fund analyst turned full-time private investor. Sign up for the newsletter.
Company Info
Civeo Corporation engages in hospitality services to the natural resource industry in Canada, Australia, and internationally.
Market Cap
$310.9M
Pitch Price
$29.25
Price Target
88.00 (+201%)
Dividend
N/A
EV/EBITDA
6.12
P/E
-17.86
EV/Sales
0.78
Sector
Commercial Services and Supplies
Category
value
Civeo Corp (CVEO-US)
CVEO (new position): Workforce accommodations for remote resource regions (Canada Oil Sands, Australia Bowen Basin). Australian business owns 80% of non-captive beds in premier met coal region, operating at capacity, generating $115M EBITDA potential FY27. Canadian business stabilizing at $22-25M EBITDA after restructuring; 2,500 idle mobile camp rooms could add $30-60M EBITDA if redeployed to pipeline/LNG/data center projects (FIDs expected 2026). FY26 guide $85-90M EBITDA, est $95M with FX tailwind, $43M FCF (7x). FY27 potential $160M EBITDA/$100M FCF (<3x) if mobile camps deploy. Mgmt committed 75%+ cash to buybacks. 2-3x upside over 1-2 years if execution delivers.
Read full article (9 min)