Civeo Corporation's first quarter 2025 results were consistent with expectations, showing topline growth in Australia but continued impact from macroeconomic headwinds in Canada. The company reported revenues of $144.0 million, a net loss of $9.8 million, and Adjusted EBITDA of $12.7 million.
Revenues for Q1 2025 were $144.0 million, a decrease from $166.1 million in Q1 2024.
The company reported a net loss of $9.8 million, or $0.72 per diluted share, for Q1 2025.
Adjusted EBITDA for Q1 2025 was $12.7 million, down from $17.8 million in Q1 2024.
Civeo returned $6.8 million of capital to shareholders through share repurchases and dividends in the quarter.
Civeo is lowering its full-year 2025 revenue and Adjusted EBITDA guidance ranges, and also reducing its capital expenditure guidance. This outlook excludes the impact of the Australian asset acquisition.
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