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Dec 31, 2024
Civeo Q4 2024 Earnings Report
Reported revenues of $151.0 million, net loss of $15.1 million, and operating cash flow of $9.5 million.
Key Takeaways
Civeo reported Q4 2024 revenues of $151.0 million with a net loss of $15.1 million. The Australian segment experienced revenue growth of 23%. The Canadian segment faced headwinds, with revenues decreasing by 44%.
Fourth quarter revenues were reported at $151.0 million.
The net loss for the fourth quarter was $15.1 million.
Operating cash flow for the fourth quarter reached $9.5 million.
Australian revenues grew by 23% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year of 2025, excluding any contribution from the recently announced Australian asset acquisition, Civeo expects revenues of $630.0 million to $660.0 million, Adjusted EBITDA of $80.0 million to $90.0 million and capital expenditures of $25.0 million to $30.0 million.
Positive Outlook
- Revenue is expected to be between $630.0 million and $660.0 million.
- Adjusted EBITDA is projected to be between $80.0 million and $90.0 million.
- Capital expenditures are estimated to be between $25.0 million and $30.0 million.
- Guidance takes into account the recent reduction in currency exchange rates experienced since late 2024.
- Company expects the recently announced Australian asset acquisition to be completed by the end of the second quarter of 2025.
Challenges Ahead
- Guidance excludes any contribution from the recently announced Australian asset acquisition.
- Reduction in currency exchange rates experienced since late 2024.
- The Australian asset acquisition is subject to regulatory approvals and customary conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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