Civeo Corp (NYSE: CVEO)

Civeo Corp provides hospitality services to remote workforces in Australia and Canada. The company offers catering and food service lodging housekeeping and maintenance at accommodation facilities that it or its customers own. It also delivers laundry facility management water and wastewater treatment power generation communication systems security and logistics. Civeo manages development activities for workforce accommodation facilities including site selection permitting engineering and design manufacturing and site construction management. Its primary markets are the active met coal oil iron ore and liquefied natural gas producing regions where traditional hospitality accommodations are often inaccessible insufficient or not cost effective.

Civeo Corp generates revenue primarily from hospitality services at its owned villages and lodges from integrated services at customer owned facilities and from mobile asset rentals. In 2025 approximately 57 percent of revenue came from services at owned facilities 43 percent from integrated services at customer owned locations and a small portion from mobile facility rental. The company bills customers on a daily rate basis for reserved rooms and provides additional charges for food housekeeping utilities and maintenance. Revenue is also earned from short term and long term take or pay contracts exclusivity arrangements and casual walk up bookings.

The company operates through the following segments: Accommodation and Associated Services Mobile Facility Rental and Associated Services and Integrated Services and Other Services.

• The Accommodation and Associated Services segment owns and operates villages and lodges that provide rooms catering housekeeping laundry and recreational amenities to workforces in remote mining and energy projects.

• The Mobile Facility Rental and Associated Services segment supplies modular skid mounted accommodations and central facilities that can be rapidly deployed to support short term pipeline construction drilling and seasonal work crews.

• The Integrated Services and Other Services segment delivers food service laundry water and wastewater treatment facilities management and other hospitality services at customer owned lodges and villages under long term contracts.

Civeo Corp holds a leading position as Australia's largest independent provider of hospitality services for remote work locations and as western Canada's largest third party provider of accommodations and hospitality services in the oil sands region. The company competes with firms such as ATCO Structures & Logistics Ltd Dexterra Group Inc Black Diamond Group Limited Target Hospitality Corp and facility service companies like Aramark Corporation Sodexo Inc and Compass Group PLC. Its competitive advantages include a broad suite of services long term take or pay contracts strategic proximity to major resource projects and strong relationships with investment grade energy and mining companies.

Civeo Corp serves mining companies major and independent oil companies construction and engineering companies and oilfield and mining service companies. Among its largest customers in 2025 were Fortescue Metals Group Ltd and Suncor Energy Inc each of which accounted for more than ten percent of total revenue. The company also provides services to numerous other resource developers that operate in the Bowen Basin Pilbara region Athabasca oil sands and LNG projects in western Canada.