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Sep 30, 2025
Civeo Q3 2025 Earnings Report
Civeo reported a net loss in Q3 2025 despite growth in Australia and improved margins in Canada.
Key Takeaways
Civeo's Q3 2025 showed continued strength in Australia, boosted by acquisitions, while Canada remained under pressure despite cost-saving measures. The company posted a small net loss and emphasized share buybacks and operational discipline.
Generated $170.5 million in revenue with a net loss of $0.5 million.
Adjusted EBITDA rose to $28.8 million, driven by Australian segment performance.
Australia segment revenue reached $124.5 million, aided by recent village acquisitions.
Canada's revenue fell to $46 million, but gross margin improved due to cost reductions.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Civeo narrowed its full-year 2025 guidance, reflecting confidence in operational execution and continued growth from the Australian segment.
Positive Outlook
- Revenue guidance tightened to $640M–$655M.
- Adjusted EBITDA guidance narrowed to $86M–$91M.
- Capital expenditure forecast maintained at $20M–$25M.
- Continued momentum from Australian acquisition and occupancy.
- Strong bidding activity expected to drive growth in Canada.
Challenges Ahead
- Canada segment still underutilized, especially mobile assets.
- Pressure from oil sands customers reducing base operations lodging demand.
- Currency fluctuations negatively impacted Australian results by $3M.
- Decline in Canadian revenue from $57.7M to $46M YoY.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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