---
schema_version: "secwatch.filing_event.v1"
accession: "0001590584-24-000032"
form_type: "8-K"
ticker: "CVEO"
cik: "0001590584"
company_name: "Civeo Corp"
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T06:42:31.829031+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001590584-24-000032
- form_type: 8-K
- ticker: CVEO
- cik: 0001590584
- company_name: Civeo Corp
- filed_at: 2024-02-29T23:59:59+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/1590584/000159058424000032/0001590584-24-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1590584/000159058424000032/cveo-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001590584-24-000032
- JSON: https://secwatch.observer/filing/0001590584-24-000032.json
- Plain text: https://secwatch.observer/filing/0001590584-24-000032.txt

## Key facts
- Earnings Releases
  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
  source text: Civeo generated revenues of $170.8 million and reported net income of $23.0 million, or $1.55 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590584/000159058424000032/0001590584-24-000032-index.htm
- Earnings Releases
  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
  source text: the Company reported revenues of $700.8 million and net income of $30.2 million, or $2.01 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1590584/000159058424000032/0001590584-24-000032-index.htm

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