Civeo Q2 revenue up 11% to $180M; net loss $2.5M; issues $115M convertible notes

Civeo Corp

Revenue $180.0M (+11% YoY); net loss $2.5M ($0.23 diluted EPS) vs $3.3M loss in Q2 2025.
Adjusted EBITDA $23.8M, down from $25.0M YoY; Canada segment EBITDA fell on start-up costs.
Australia segment revenue $125.4M (+11% YoY) driven by integrated services and stronger AUD.
Issued $115M of 4.50% convertible notes due 2031; concurrently repurchased 660K shares for $22.3M.
Full-year 2026 guidance maintained: revenue $675-700M, Adj EBITDA $85-90M, capex $25-30M.

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