Civeo Q2 net income $4.5M ($0.30/diluted) vs $9.1M ($0.54) YoY; Australia up 35% adj. EBITDA

Civeo Corp

2023-Q2 EPS reported -$0.13 revenue$346,434,000

Revenue $178.8M, down 3.4% YoY from $185.0M; net income $4.5M vs $9.1M.
Adjusted EBITDA $31.6M vs $37.1M YoY; free cash flow $12.9M vs $17.6M.
Australian segment revenue up 22% to $82.5M, Adj. EBITDA +35% to $19.6M, highest village occupancy since 2014.
Repurchased ~212k shares for $4.2M; reduced debt $6.5M to $136.1M; net leverage 1.2x.
FY 2023 guidance revised: revenue raised lower end to $640-650M, Adj. EBITDA $90-95M; capex reduced to $35-40M.

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 0.95

Civeo Corp reported the full year of 2023 results: revenue $640 million to $650 million. Guidance raised.

Period: the full year of 2023
Revenue: $640 million to $650 million
Guidance: raised
Result: guidance update

Exact text from the filing

For the full year of 2023, Civeo is increasing the lower end of its previously provided revenue and Adjusted EBITDA guidance ranges. The revised revenue and Adjusted EBITDA guidance ranges are $640 million to $650 million and $90 million to $95 million, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Civeo Corp reported the quarter ended June 30, 2023 results: revenue $178.8 million, net income $4.5 million, EPS $0.30 per diluted share. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $178.8 million
Net income: $4.5 million
EPS: $0.30 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

reference in such filing. --- EX-99.1 (EX-99.1) --- Civeo Reports Second Quarter 2023 Results Second Quarter Highlights include: • Reported second quarter revenues of $178.8 million, net income of $4.5 million and operating cash flow of $19.4 million; • Delivered second quarter Adjusted EBITDA of $31.6 million and free cash flow of $12.9 million; • Recorded

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Source: SEC EDGAR

accession 0001590584-23-000101

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