Civeo reported first quarter revenues of $167.6 million and a net loss of $6.4 million, impacted by typical seasonality and inflationary pressures. The company is maintaining its full year 2023 revenue and Adjusted EBITDA guidance.
Reported first quarter revenues of $167.6 million, net loss of $6.4 million and operating cash flow of $0.4 million.
Delivered first quarter Adjusted EBITDA of $20.2 million.
Continued to return capital to shareholders through the share repurchase program.
Announced five contract awards to provide accommodations and hospitality services at various Civeo Australia villages with expected total revenues of A$175 million spanning 2023-2028.
Civeo is maintaining its previously provided revenue and Adjusted EBITDA guidance ranges of $630 million to $650 million and $85 million to $95 million, respectively. The Company is increasing full year 2023 capital expenditure guidance to a range of $45 million to $50 million.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance