Civeo Q1 net loss $5.1M, revenue $166.1M; Australian segment revenue up 19% YoY

Civeo Corp

2024-Q1 EPS reported -$0.35 revenue$166,120,000

Revenue $166.1M (down 1% YoY from $167.6M); net loss $5.1M vs $6.4M loss in Q1 2023.
Adjusted EBITDA $17.3M (down from $20.2M); free cash flow $7.2M vs negative $2.1M.
Canada revenue fell 25% to $67.2M; Australia revenue rose 19% to $91.7M with 43% Adj. EBITDA growth.
Board declares quarterly dividend of $0.25/share payable June 17 to holders of record May 27.
FY 2024 guidance unchanged: revenue $625M-$700M, Adj. EBITDA $80M-$90M, capex $30M-$35M.

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 0.99

Civeo Corp reported first quarter ended March 31, 2024 results: revenue 166.1 million, net income net loss of $5.1 million, EPS ($0.35) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: 166.1 million
Net income: net loss of $5.1 million
EPS: ($0.35) per diluted share
Result: reported results

Exact text from the filing

Civeo generated revenues of $166.1 million and reported a net loss of $5.1 million, or $0.35 per diluted share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Civeo Corp reported full year 2024 results: revenue 625 million to $700 million. Guidance reaffirmed.

Period: full year 2024
Revenue: 625 million to $700 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Civeo is maintaining its previously provided revenue and Adjusted EBITDA guidance ranges of $625 million to $700 million and $80 million to $90 million, respectively.

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Source: SEC EDGAR

accession 0001590584-24-000076

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