secwatch.observer — SEC 8-K summary
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Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001590584-23-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000070/0001590584-23-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000070/cveo-20230428.htm
  HTML page:      https://secwatch.observer/filing/0001590584-23-000070

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