Civeo Corporation Announces Renewal of Share Repurchase Authorization
Civeo (NYSE: CVEO) has announced the renewal of its share repurchase authorization. The Board of Directors has approved a plan to repurchase up to 5% of the company's total common shares outstanding over the next 12 months. Civeo may execute these repurchases through open market transactions or privately negotiated deals, funded by cash on hand and operational cash flow.
The repurchase plan's implementation will be at Civeo's discretion, considering factors such as the company's capital position, liquidity, financial performance, and stock price. While the Board can increase the repurchase limit, Civeo is not obligated to buy any specific number of shares and can suspend or terminate the plan at any time.
Civeo (NYSE: CVEO) ha annunciato il rinnovo della sua autorizzazione per il riacquisto di azioni. Il Consiglio di Amministrazione ha approvato un piano per riacquistare fino al 5% del totale delle azioni ordinarie in circolazione nell'arco dei prossimi 12 mesi. Civeo potrà effettuare questi riacquisti tramite transazioni nel mercato aperto o attraverso accordi privati, finanziati con liquidità disponibile e flusso di cassa operativo.
L'attuazione del piano di riacquisto sarà a discrezione di Civeo, considerando fattori come la posizione patrimoniale, liquidità, prestazioni finanziarie e prezzo delle azioni. Sebbene il Consiglio possa aumentare il limite di riacquisto, Civeo non è obbligata ad acquistare un numero specifico di azioni e può sospendere o terminare il piano in qualsiasi momento.
Civeo (NYSE: CVEO) ha anunciado la renovación de su autorización para la recompra de acciones. La Junta Directiva ha aprobado un plan para recomprar hasta el 5% del total de las acciones ordinarias en circulación durante los próximos 12 meses. Civeo podrá ejecutar estas recompras a través de transacciones en el mercado abierto o acuerdos negociados de manera privada, financiadas con efectivo disponible y flujo de caja operativo.
La implementación del plan de recompra se llevará a cabo a discreción de Civeo, considerando factores como la posición de capital, liquidez, rendimiento financiero y precio de las acciones. Aunque la Junta puede aumentar el límite de recompra, Civeo no está obligada a comprar un número específico de acciones y puede suspender o finalizar el plan en cualquier momento.
Civeo (NYSE: CVEO)는 자사 주식 매입 권한 갱신을 발표했습니다. 이사회는 향후 12개월 동안 회사의 총 보통주 총수의 5%까지 매입하는 계획을 승인했습니다. Civeo는 이러한 매입을 공개 시장 거래 혹은 개인 협상 거래를 통해 수행할 수 있으며, 이는 현금 보유 및 운영 현금 흐름으로 자금을 조달합니다.
매입 계획의 실행은 Civeo의 재량에 따라 이루어지며, 회사의 자본 위치, 유동성, 재무 성과 및 주가와 같은 요소를 고려할 것입니다. 이사회는 매입 한도를 늘릴 수 있지만, Civeo는 특정 주식을 구매할 의무가 없으며 언제든지 계획을 중단하거나 종료할 수 있습니다.
Civeo (NYSE: CVEO) a annoncé le renouvellement de son autorisation de rachat d'actions. Le conseil d'administration a approuvé un plan pour racheter jusqu'à 5 % du total des actions ordinaires en circulation de l'entreprise au cours des 12 prochains mois. Civeo peut exécuter ces rachats par le biais de transactions sur le marché ouvert ou d'accords négociés en privé, financés par des liquidités disponibles et des flux de trésorerie d'exploitation.
La mise en œuvre du plan de rachat sera à la discrétion de Civeo, en tenant compte de facteurs tels que la position en capital, la liquidité, la performance financière et le prix des actions. Bien que le conseil puisse augmenter la limite de rachat, Civeo n'est pas obligé d'acheter un nombre spécifique d'actions et peut suspendre ou mettre fin au plan à tout moment.
Civeo (NYSE: CVEO) hat die Erneuerung seiner Genehmigung zum Aktienrückkauf angekündigt. Der Vorstand hat einen Plan genehmigt, um bis zu 5% der insgesamt ausgegebenen Stammaktien des Unternehmens in den nächsten 12 Monaten zurückzukaufen. Civeo kann diese Rückkäufe durch Transaktionen im offenen Markt oder privat ausgehandelte Vereinbarungen durchführen, die mit vorhandenen Mitteln und operativem Cashflow finanziert werden.
Die Umsetzung des Rückkaufplans liegt im Ermessen von Civeo, wobei Faktoren wie die Kapitalposition, Liquidität, finanzielle Leistung und der Aktienkurs berücksichtigt werden. Obwohl der Vorstand das Rückkauflimit erhöhen kann, ist Civeo nicht verpflichtet, eine bestimmte Anzahl von Aktien zu kaufen und kann den Plan jederzeit aussetzen oder beenden.
- Authorization to repurchase up to 5% of outstanding shares
- Flexibility in repurchase timing and method
- Funding through existing cash and operational cash flow
- Potential to increase shareholder value through stock price support
- No guarantee of actual share repurchases
- Potential reduction in cash available for other investments or operations
Insights
Civeo's renewed share repurchase authorization signals confidence in the company's financial health and future prospects. The 5% repurchase limit over 12 months is a moderate approach, balancing shareholder returns with maintaining financial flexibility. This move could potentially support the stock price and improve earnings per share metrics. However, investors should note that the authorization doesn't guarantee actual repurchases, as the company retains discretion based on market conditions and alternative capital uses. The flexibility in timing and execution suggests a cautious approach, which is prudent given the cyclical nature of Civeo's business in workforce accommodations. While generally positive for shareholders, the impact will depend on the actual implementation and prevailing market conditions.
Civeo's share repurchase renewal is a strategic move that could influence investor perception and market dynamics. By authorizing repurchases of up to 5% of outstanding shares, the company is signaling undervaluation and confidence in its stock. This action may create a price floor and reduce volatility. However, the discretionary nature of the plan and its dependence on various factors introduce uncertainty. The market's reaction will likely hinge on Civeo's execution and the broader industry outlook for workforce accommodations, particularly in resource-rich regions. Investors should monitor the company's cash flow and capital allocation decisions, as these will ultimately determine the repurchase plan's effectiveness in creating shareholder value.
Civeo may repurchase shares through open market repurchases and/or privately negotiated transactions, and intends to fund repurchases through cash on hand and cash generated from operations.
The timing, price and quantity of repurchases under the repurchase plan will be at the discretion of Civeo and will depend on various factors, including the Company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regulatory requirements and limitations, and general market conditions. The Company’s Board of Directors may increase the number of common shares that may be repurchased under the repurchase plan at any time. The repurchase plan does not obligate Civeo to repurchase any particular number of shares and it may be suspended or terminated at any time.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. The forward-looking statements herein, including the statements regarding Civeo’s expectations with respect to future share repurchases, are based on then current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Such risks and uncertainties include the factors discussed in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Civeo’s most recent annual report on Form 10-K and other reports the company may file from time to time with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20240911326026/en/
Regan Nielsen
Civeo Corporation
Vice President, Corporate Development & Investor Relations
713-510-2400
Source: Civeo Corporation
FAQ
What is the size of Civeo's new share repurchase authorization?
How will Civeo fund the share repurchases under the new authorization?
Can Civeo increase the number of shares to be repurchased under this plan?
Is Civeo obligated to repurchase shares under this authorization?
