secwatch.observer — SEC 8-K summary
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Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2022-07-29T23:59:59+00:00
Accession:  0001590584-22-000098
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civeo Q2 revenue $185M, net income $9.1M; raises FY2022 guidance; wins $500M contract renewal
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- Q2 revenue $185.0M (up 20% YoY); net income $9.1M vs net loss $0.5M; diluted EPS $0.54.
- Adjusted EBITDA $37.1M, up from $32.2M; free cash flow $17.6M vs $13.7M.
- Net leverage ratio reduced to 1.18x from 1.40x; total debt $154.6M, down $23.3M since Q1.
- Awarded 12-year Wapasu Lodge renewal with ~C$500M guaranteed take-or-pay; new 5-year South Australia contract for A$120M.
- FY2022 guidance raised: revenue $660-675M, Adjusted EBITDA $95-105M, capex $24-29M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058422000098/0001590584-22-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058422000098/cveo-20220729.htm
  HTML page:      https://secwatch.observer/filing/0001590584-22-000098

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