secwatch.observer — SEC 8-K summary
======================================

Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001590584-24-000076
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058424000076/0001590584-24-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058424000076/cveo-20240426.htm
  HTML page:      https://secwatch.observer/filing/0001590584-24-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer