Civeo reported strong Q4 2022 results despite inflationary headwinds, including revenues of $162.2 million. The company generated significant free cash flow and substantially reduced its total debt balance.
Generated revenues of $162.2 million.
Net loss of $13.0 million was reported, impacted by $5.7 million in impairment costs.
Operating cash flow reached $29.4 million.
Adjusted EBITDA was $15.1 million and free cash flow was $25.8 million.
For the full year of 2023, Civeo expects revenues of $630.0 million to $650.0 million, EBITDA of $85.0 million to $95.0 million and capital expenditures of $25.0 million to $30.0 million.
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