secwatch.observer — SEC 8-K summary
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Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001590584-23-000115
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000115/0001590584-23-000115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058423000115/cveo-20231027.htm
  HTML page:      https://secwatch.observer/filing/0001590584-23-000115

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