Civeo Q3 net income $9M, Adj EBITDA $32.9M; raises FY guidance; sells McClelland Lake Lodge for $36M

Civeo Corp

2023-Q3 EPS reported $0.47 revenue$530,006,000

Q3 revenues $183.6M (flat YoY); net income $9.0M ($0.61 diluted EPS) vs $5.2M ($0.32) in Q3 2022.
Adjusted EBITDA $32.9M; free cash flow $31.7M; total debt reduced $32.9M to $103.2M (0.9x net leverage).
Canada segment rev $95.1M (-8% constant currency); Australia rev $87.9M (+24% constant currency) with record village billed rooms.
Announced sale of McClelland Lake Lodge for C$49M (~US$36M); initiated $0.25 quarterly dividend; raised FY revenue/EBITDA guidance to $675-685M/$95-100M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Civeo Corp reported the third quarter ended September 30, 2023 results: revenue $183.6 million, net income $9.0 million, EPS $0.61 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $183.6 million
Net income: $9.0 million
EPS: $0.61 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Civeo Reports Third Quarter 2023 Results Third Quarter Highlights: • Reported revenues of $183.6 million, net income of $9.0 million and operating cash flow of $36.8 million; • Delivered Adjusted EBITDA of $32.9 million and free cash flow of $31.7 million; • Reduced total debt by

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Source: SEC EDGAR

accession 0001590584-23-000115

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