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

Issuer:     Civeo Corp (CVEO)
CIK:        0001590584
Form:       8-K
Filed at:   2025-04-30T23:59:59+00:00
Accession:  0001590584-25-000078
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Civeo Q1 revenue falls 13% YoY, net loss widens, cuts 2025 guidance, suspends dividend
--------------------------------------------------------------------------------

- Q1 revenue $144M (-13% YoY), net loss $9.8M ($0.72 EPS) vs $5.1M loss a year ago.
- Canada segment revenue down 40% to $40.4M; negative Adjusted EBITDA -$0.2M; headcount cut 25%.
- FY2025 guidance lowered: revenue $620-650M, Adjusted EBITDA $75-85M (prev $80-90M).
- Board suspends quarterly dividend; increases share repurchase authorization to 20% from 10%.
- Australian acquisition of four villages on track for Q2 close; Australia revenue up 13% to $103.6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590584/000159058425000078/0001590584-25-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590584/000159058425000078/cveo-20250430.htm
  HTML page:      https://secwatch.observer/filing/0001590584-25-000078

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