Civeo Corp reported first quarter ended March 31, 2026 results: revenue $172.7 million, net income net loss of $3.8 million, or $0.34 per diluted share. Guidance raised.
“as may be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Civeo Reports First Quarter 2026 Results Highlights: • Reported revenues of $172.7 million, net loss of $3.8 million and Adjusted EBITDA of $22.5 million, reflecting year-over-year growth of 20% in revenues and 78% in Adjusted EBITDA; • Australian segment revenues”
Material Agreements
Civeo Corp entered into Amended and Restated Syndicated Facility Agreement with Royal Bank of Canada, as Administrative Agent valued at $285.0 million (effective 2026-04-23).
“On April 23, 2026, Civeo Corporation (the “Company”) entered into the Amended and Restated Syndicated Facility Agreement (the “A&R Syndicated Facility Agreement”) to amend and restate in its entirety that certain Syndicated Facility Agreement dated as of September 8, 2021”
Debt Financings
Civeo Corp amended revolving credit of $285.0 million with Royal Bank of Canada, as Administrative Agent at adjusted Term SOFR plus 2.50% to 3.75% maturing April 23, 2030.
“The A&R Syndicated Facility Agreement amends and restates the Existing Syndicated Facility Agreement to (i) extend the maturity date until April 23, 2030, (ii) upsize the total aggregate revolving loan commitments by $20.0 million, and (iii) provide for other technical changes and amendments.”
Allan Schoening departed as Senior Vice President, Canada at Civeo Corp.
“Mr. Schoening will retire upon Mr. Fraser’s joining the Company, but is expected to remain a consultant for the Company for a period after his retirement.”
Andrew 'Andy' S. Fraser was appointed as Senior Vice President, Canada at Civeo Corp.
“On July 2, 2024, Civeo Corporation (the “Company” or “Civeo”) appointed Andrew “Andy” S. Fraser as the Company’s Senior Vice President, Canada, effective as of August 19, 2024.”
Barclay Brewer was appointed as Vice President and Chief Accounting Officer at Civeo Corp.
“Barclay Brewer, who has been serving as Interim Senior Vice President, Chief Financial Officer and Treasurer since March 5, 2024, and will remain employed with the Company as the Vice President and Chief Accounting Officer, effective as of August 1, 2024.”
E. Collin Gerry was appointed as Senior Vice President, Chief Financial Officer and Treasurer at Civeo Corp.
“On June 6, 2024, Civeo Corporation (the “Company” or “Civeo”) appointed E. Collin Gerry as the Company’s Senior Vice President, Chief Financial Officer and Treasurer, effective as of August 1, 2024.”
Earnings Releases
Civeo Corp reported full year 2024 results: revenue 625 million to $700 million. Guidance reaffirmed.
“Civeo is maintaining its previously provided revenue and Adjusted EBITDA guidance ranges of $625 million to $700 million and $80 million to $90 million, respectively.”
Earnings Releases
Civeo Corp reported first quarter ended March 31, 2024 results: revenue 166.1 million, net income net loss of $5.1 million, EPS ($0.35) per diluted share.
“Civeo generated revenues of $166.1 million and reported a net loss of $5.1 million, or $0.35 per diluted share.”
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