Earnings Releases·Oct 29, 2026, 4:52 PM ET

Civeo — Third Quarter 2026 Earnings Summary

Reported Q3 2026 revenue of $193.1 million (up 13% YoY) and net income of $5.2 million ($0.50/share), reversing a $0.5 million loss from the prior year period, while Adjusted EBITDA rose to $30.1 million and operating cash flow nearly doubled to $26.4 million.
Raised full-year 2026 guidance for revenue to $710–$720 million, Adjusted EBITDA to $89–$92 million, and capital expenditures to $30–$35 million, citing strong Canadian oil sands activity and a robust North American infrastructure pipeline.
Completed a $115 million convertible senior notes issuance in July 2026, utilized proceeds to repay revolving credit facility borrowings, and concurrently repurchased 660,297 common shares for approximately $22.3 million to fulfill the 20% authorization.
Segment performance showed a 38% revenue increase in Canada driven by occupancy and new contracts, while Australian revenue grew 4% due to currency and rate increases despite a 7% decline in Adjusted EBITDA from lower Bowen Basin occupancy.