Civeo Q3 revenue $184.2M, Adj. EBITDA $35.0M; raises FY22 guidance

Civeo Corp

2022-Q3 EPS reported $0.91 revenue$534,859,000

Net income $5.2M ($0.32 diluted EPS) vs $0.1M ($0.00) YoY; revenue +19% to $184.2M.
Adjusted EBITDA $35.0M, up 34% from $26.2M; free cash flow $38.6M.
Net leverage ratio fell to 0.9x from 1.2x in prior quarter; total debt $126.2M.
FY22 guidance raised: revenue $675M-$685M, Adj. EBITDA $110M-$115M.
Board renewed share repurchase authorization of up to 5% of outstanding shares.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Civeo Corp reported third quarter ended September 30, 2022 results: revenue $184.2 million, net income $5.2 million, EPS $0.32 per diluted share.

Period: third quarter ended September 30, 2022
Revenue: $184.2 million
Net income: $5.2 million
EPS: $0.32 per diluted share
Result: reported results

Exact text from the filing

In the third quarter of 2022, Civeo generated revenues of $184.2 million and reported net income of $5.2 million, or $0.32 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Civeo Corp reported the full year of 2022 results: revenue $675 million to $685 million. Guidance raised.

Period: the full year of 2022
Revenue: $675 million to $685 million
Guidance: raised
Result: guidance update

Exact text from the filing

For the full year of 2022, Civeo is increasing its previously provided revenue and Adjusted EBITDA guidance range to $675 million to $685 million and $110 million to $115 million, respectively.

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Source: SEC EDGAR

accession 0001590584-22-000136

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