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Sep 30, 2023
Civeo Q3 2023 Earnings Report
Reported solid operating results and achieved several strategic milestones.
Key Takeaways
Civeo reported revenues of $183.6 million and net income of $9.0 million, or $0.61 per diluted share. The company reduced total debt by $32.9 million to $103.2 million. Civeo also announced a definitive agreement to sell McClelland Lake Lodge for approximately C$49 million, or US$36 million.
Reported revenues of $183.6 million, net income of $9.0 million and operating cash flow of $36.8 million.
Delivered Adjusted EBITDA of $32.9 million and free cash flow of $31.7 million.
Reduced total debt by $32.9 million to $103.2 million as of September 30, 2023.
Announced a definitive agreement to sell McClelland Lake Lodge for approximately C$49 million, or US$36 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year of 2023, Civeo is increasing its previously provided revenue and Adjusted EBITDA guidance ranges. The revised revenue and Adjusted EBITDA guidance ranges are $675 million to $685 million and $95 million to $100 million, respectively. The Company is maintaining its full year 2023 capital expenditure guidance of $35 million to $40 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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