Civeo Q4 net income $23M vs loss year ago; FY 2024 EBITDA guidance $80-90M down from $102M

Civeo Corp

2023-FY EPS reported $2.01 revenue$700,805,000

Q4 revenue $170.8M (+5.3% YoY); net income $23.0M ($1.55 EPS) vs net loss $13.0M in Q4 2022.
Australia Q4 Adj. EBITDA $21.5M (+64% YoY) on 23% higher billed rooms; Canada Adj. EBITDA $3.4M (-72% YoY) from LNG wind-down.
Total debt cut $66.5M YoY to $65.6M; net leverage 0.6x. Quarterly dividend $0.25/sh declared.
FY 2024 guidance: rev $625-700M, Adj. EBITDA $80-90M (down from $102M in 2023), capex $30-35M.
Completed sale of McClelland Lake Lodge in Jan 2024; majority proceeds received in Q4 2023.

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 0.9

Civeo Corp reported the quarter ended December 31, 2023 results: revenue $170.8 million, net income $23.0 million, EPS $1.55 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $170.8 million
Net income: $23.0 million
EPS: $1.55 per diluted share
Result: reported results

Exact text from the filing

Civeo generated revenues of $170.8 million and reported net income of $23.0 million, or $1.55 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Civeo Corp reported the year ended December 31, 2023 results: revenue $700.8 million, net income $30.2 million, EPS $2.01 per diluted share.

Period: the year ended December 31, 2023
Revenue: $700.8 million
Net income: $30.2 million
EPS: $2.01 per diluted share
Result: reported results

Exact text from the filing

the Company reported revenues of $700.8 million and net income of $30.2 million, or $2.01 per diluted share.

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Source: SEC EDGAR

accession 0001590584-24-000032

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