secwatch.observer — SEC 8-K summary
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Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2022-02-28T23:59:59+00:00
Accession:  0001590584-22-000007
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civeo Q4 rev $159.8M, net income $9.8M; guides FY22 EBITDA $90-95M
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- Q4 2021 revenue $159.8M (up 20% YoY), net income $9.8M ($0.58 EPS) vs Q4 2020 loss $2.3M ($0.16 loss).
- Full-year 2021 revenue $594.5M, net loss $0.6M ($0.04 loss); Adjusted EBITDA $109.1M vs $108.1M in 2020.
- Total debt reduced to $175.1M (down $76M YoY); net leverage ratio improved to 1.49x from 1.86x at Sep 30.
- FY 2022 guidance: revenue $600-615M, EBITDA $90-95M, capex $20-25M (EBITDA below 2021 level).
- Board authorized a share repurchase program (amount not disclosed); $87.3M free cash flow in 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058422000007/0001590584-22-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058422000007/cveo-20220228.htm
  HTML page:      https://secwatch.observer/filing/0001590584-22-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer