secwatch.observer — SEC 8-K summary
======================================

Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0001590584-23-000036
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civeo Q4 net loss $13M; full-year adj. EBITDA $112.8M; 2023 guidance issued
---------------------------------------------------------------------------

- Q4 revenue $162.2M, net loss $13.0M ($1.31/diluted share); adj. EBITDA $15.1M.
- Full-year 2022 revenue $697.1M, net income $2.2M; adj. EBITDA $112.8M vs $109.1M in 2021.
- 2023 guidance: revenue $630-650M, EBITDA $85-95M, capex $25-30M.
- Australia won two five-year contracts with expected revenue ~A$937M.
- Repurchased 40% of preferred shares in Q4; remaining converted to common; net leverage 1.1x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000036/0001590584-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000036/cveo-20230228.htm
  HTML page:      https://secwatch.observer/filing/0001590584-23-000036

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