Civeo Q1 net loss of $6.4M; Adj EBITDA $20.2M; Australia contract wins A$175M

Civeo Corp

2023-Q1 EPS reported -$0.42 revenue$167,591,000

Revenue $167.6M (flat YoY); net loss $0.42/diluted share vs. $0.06 profit in Q1 2022.
Adj EBITDA $20.2M vs. $25.6M YoY; driven by mobile camp decline and inflation.
Canada rev down 7% to $89.5M; Australia rev up 21% to $77.0M on new contracts.
FY2023 guidance maintained: rev $630-650M, Adj EBITDA $85-95M; capex raised to $45-50M (customer-funded).
Five Australia contract awards total A$175M spanning 2023-2028.

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 the full year of 2023 results: revenue $630 million to $650 million. Guidance reaffirmed.

Period: the full year of 2023
Revenue: $630 million to $650 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For the full year of 2023, Civeo is maintaining its previously provided revenue and Adjusted EBITDA guidance ranges of $630 million to $650 million and $85 million to $95 million, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Civeo Corp reported first quarter ended March 31, 2023 results: revenue $167.6 million, net income $6.4 million, EPS $(0.42) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $167.6 million
Net income: $6.4 million
EPS: $(0.42) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

In the first quarter of 2023, Civeo generated revenues of $167.6 million and reported a net loss of $6.4 million, or $0.42 per diluted share.

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Civeo Corp filing history →

Source: SEC EDGAR

accession 0001590584-23-000070

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