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Civeo Reports Q3 Revenue of $193.1 Million
Reports Q3 revenue $193.1M, consensus $174.05M. Bradley J. Dodson, Civeo's President and Chief Executive Officer, said, "We delivered a strong third quarter with 13% year-over-year revenue growth and a 5% increase in Adjusted EBITDA, while third quarter operating cash flow nearly doubled to $26.4 million. In Canada, revenues increased 38%, driven by stronger-than-expected turnaround activity at our oil sands lodges and our new integrated services contract in Ontario, and higher occupancy drove a 47% increase in Adjusted EBITDA. In Australia, contractual rate increases and increased shutdown activity in our integrated services business helped offset lower owned-village occupancy in the Bowen Basin, while the stronger Australian dollar contributed to year-over-year revenue growth."
Raises FY26 Adjusted EBITDA Outlook to $89M-$92M
Consensus $693.17M. Raises FY26 adjusted EBITDA view to $89M-$92M from $85M-$90M. Raises FY26 CapEx view to $30M-$35M from $25M-$30M.
Civeo Reports Q3 Revenue of $193.1 Million
Reports Q3 revenue $193.1M, consensus $174.05M. Bradley J. Dodson, Civeo's President and Chief Executive Officer, said, "We delivered a strong third quarter with 13% year-over-year revenue growth and a 5% increase in Adjusted EBITDA, while third quarter operating cash flow nearly doubled to $26.4 million. In Canada, revenues increased 38%, driven by stronger-than-expected turnaround activity at our oil sands lodges and our new integrated services contract in Ontario, and higher occupancy drove a 47% increase in Adjusted EBITDA. In Australia, contractual rate increases and increased shutdown activity in our integrated services business helped offset lower owned-village occupancy in the Bowen Basin, while the stronger Australian dollar contributed to year-over-year revenue growth."
Civeo Reports Q2 Revenue of $180M
Reports Q2 revenue $180M, consensus $170.92M. Bradley Dodson, Civeo's President and Chief Executive Officer, said, "We delivered a solid second quarter with 11% year-over-year revenue growth. In Australia, we benefited from the stronger Australian dollar, revenue growth in our integrated services platform and contributions from our recently acquired villages. In Canada, higher occupancy and our new integrated services contract in Ontario helped drive year-over-year revenue growth, while start-up costs associated with the new contract negatively impacted Adjusted EBITDA."
Company Adjusts FY26 EBITDA Outlook to $85M-$90M
Backs FY26 adjusted EBITDA view $85M-$90M.
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