Civeo Q3 net loss $5.1M vs prior-year net income; revenue down 4% as Canada weakens

Civeo Corp

2024-Q3 EPS reported -$0.14 revenue$531,171,000

Revenue $176.3M, down from $183.6M YoY; net loss $0.36 diluted EPS vs net income $0.61 EPS.
Adjusted EBITDA $18.8M, down 45% from $34.2M due to Canadian LNG wind-down and wildfires.
Australian segment revenue up 33% to $116.6M on higher billed rooms and integrated services growth.
Secured 33-month contract renewal with major Canadian oil sands producer; total expected revenue ~C$150M.
Declared $0.25 quarterly dividend; repurchased 515k shares for $14.2M in Q3; tightened 2024 revenue guidance to $675-700M.

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