secwatch.observer — SEC 8-K summary
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Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0001590584-24-000157
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058424000157/0001590584-24-000157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058424000157/cveo-20241030.htm
  HTML page:      https://secwatch.observer/filing/0001590584-24-000157

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