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Mar 31, 2024
Civeo Q1 2024 Earnings Report
Reported revenues of $166.1 million with a net loss of $5.1 million.
Key Takeaways
Civeo's Q1 2024 results showed revenues of $166.1 million and a net loss of $5.1 million, influenced by a significant year-over-year improvement in the Australian segment offset by declines in Canada due to the sale of McClelland Lake Lodge and reduced LNG-related mobile camp activity.
Reported revenues of $166.1 million, net loss of $5.1 million and operating cash flow of $6.0 million.
Delivered Adjusted EBITDA of $17.3 million and free cash flow of $7.2 million.
Continued to return capital to shareholders through the quarterly dividend and share repurchase program.
Completed the previously announced sale of McClelland Lake Lodge in January and continue to assess additional potential associated revenue opportunities.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
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, for the full year of 2024. The Company is also maintaining its full year 2024 capital expenditure guidance of $30 million to $35 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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