---
schema_version: "secwatch.filing_event.v1"
accession: "0001590584-23-000115"
form_type: "8-K"
ticker: "CVEO"
cik: "0001590584"
company_name: "Civeo Corp"
filed_at: "2023-10-27T23:59:59+00:00"
generated_at: "2026-06-09T07:01:39.073556+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001590584-23-000115
- form_type: 8-K
- ticker: CVEO
- cik: 0001590584
- company_name: Civeo Corp
- filed_at: 2023-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000115/0001590584-23-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000115/cveo-20231027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001590584-23-000115
- JSON: https://secwatch.observer/filing/0001590584-23-000115.json
- Plain text: https://secwatch.observer/filing/0001590584-23-000115.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590584/000159058423000115/0001590584-23-000115-index.htm

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