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Sep 30, 2024
Civeo Q3 2024 Earnings Report
Reported revenues, net loss, and operating cash flow; Australian segment showed strong growth; contract renewal announced.
Key Takeaways
Civeo reported revenues of $176.3 million with a net loss of $5.1 million. The Australian segment experienced significant growth, offsetting declines in the Canadian segment. A major contract renewal in the Canadian oil sands was also announced.
Reported revenues of $176.3 million, net loss of $5.1 million and operating cash flow of $35.7 million.
Delivered Adjusted EBITDA of $18.8 million and free cash flow of $28.3 million.
Returned $17.8 million of capital to shareholders through dividends and share repurchases.
Australian segment revenues increased 33% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Civeo is tightening its full year 2024 revenue and Adjusted EBITDA guidance ranges to $675 million to $700 million and $83 million to $88 million, respectively. The Company is maintaining its full year 2024 capital expenditure guidance range 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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