---
schema_version: "secwatch.filing_event.v1"
accession: "0001590584-23-000101"
form_type: "8-K"
ticker: "CVEO"
cik: "0001590584"
company_name: "Civeo Corp"
filed_at: "2023-07-28T23:59:59+00:00"
generated_at: "2026-06-12T23:03:06.411275+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001590584-23-000101
- form_type: 8-K
- ticker: CVEO
- cik: 0001590584
- company_name: Civeo Corp
- filed_at: 2023-07-28T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000101/0001590584-23-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000101/cveo-20230728.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001590584-23-000101
- JSON: https://secwatch.observer/filing/0001590584-23-000101.json
- Plain text: https://secwatch.observer/filing/0001590584-23-000101.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000101/0001590584-23-000101-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000101/0001590584-23-000101-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.