Civeo Stock Jumps 18% as Canadian Demand Lifts Results and Raised Guidance

Civeo (NYSE: CVEO) shares rose 17.7% on Friday, Oct. 30, 2026, closing at $35.97 from a previous close of $30.55. The S&P 500 ETF (SPY) fell 1.77% that session. Volume was 7.6 times its normal level.

The move followed the company's third-quarter results, which it released in an 8-K filed after the close on Oct. 29. Civeo reported revenue of $193.1 million, up 13% from a year earlier, and net income of $5.2 million, or $0.50 per diluted share. Adjusted EBITDA was $30.1 million. A year earlier the company posted a net loss of $0.5 million.

Canada drives the quarter

Canadian revenue rose 38% to $63.6 million, and Canadian Adjusted EBITDA increased 47% to $11.1 million. The company credited higher occupancy at its oil sands lodges, where turnaround work was stronger than expected, and a new integrated services contract in Ontario.

Guidance raised

Civeo raised its 2026 revenue guidance to $710 million to $720 million, from $675 million to $700 million, and its Adjusted EBITDA guidance to $89 million to $92 million, from $85 million to $90 million. It also said it has secured contracts for about 700 mobile fleet rooms in Canada since the end of the second quarter. Capital expenditure guidance rose to $30 million to $35 million to prepare Canadian assets for those deployments.

Australia softer

Australian Adjusted EBITDA fell 7% to $23.2 million, as lower occupancy in higher-margin owned villages offset contractual rate increases. Chief Executive Bradley J. Dodson said elevated diesel costs and inflation are keeping Australian producers focused on cost discipline, and expects those dynamics to persist through year-end.

The filings did not tie any single item directly to the share price move.