Loading...
•
Jun 30, 2024
Civeo Q2 2024 Earnings Report
Civeo's financial performance increased in revenue and net income compared to the previous year, driven by strong growth in the Australian segment, which was partially offset by a decline in Canadian operations due to the wind-down of LNG-related activities.
Key Takeaways
Civeo reported revenues of $188.7 million and net income of $8.2 million for Q2 2024. The Australian segment saw a 32% increase in revenues year-over-year, while the Canadian segment experienced a decline due to the wind-down of LNG-related activities. The company returned $10.3 million of capital to shareholders through dividends and share repurchases.
Reported revenues of $188.7 million, net income of $8.2 million, and operating cash flow of $32.4 million.
Delivered Adjusted EBITDA of $31.3 million and free cash flow of $30.9 million.
Australian segment revenues increased 32% year-over-year due to higher occupancy and integrated services growth.
Returned $10.3 million of capital to shareholders through dividends and share repurchases.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Civeo is maintaining its full-year 2024 revenue and Adjusted EBITDA guidance ranges of $625 million to $700 million and $80 million to $90 million, respectively. 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
Loading earnings performance data...
Loading earnings reaction data...