Recent Updates — CVEO

Civeo reported third-quarter 2026 revenues of $193.1 million, a 13% increase year-over-year, driven by higher occupancy in Canada and a stronger Australian dollar. Net income was $5.2 million, or $0.50 per diluted share, compared to a net loss of $0.5 million in the prior year period. Adjusted EBITDA rose 5% to $30.1 million, supported by turnaround activity at Canadian oil sands lodges and integrated services growth. Operating cash flow nearly doubled to $26.4 million. The company raised its full-year 2026 revenue guidance to $710-$720 million and Adjusted EBITDA guidance to $89-$92 million, citing improved demand across North American infrastructure markets. Civeo provides hospitality services, including lodging and catering, for workers in the Australian natural resource regions and Canadian oil sands.

Civeo Corporation reported second quarter 2026 results with revenues of $180.0 million, a net loss of $2.5 million ($0.23 per diluted share), and Adjusted EBITDA of $23.8 million. Revenue increased 11% year-over-year, driven by integrated services growth in Australia and Canada, higher occupancy in Canada, and a stronger Australian dollar. Subsequent to the quarter-end, Civeo issued $115.0 million of 4.50% convertible senior notes due 2031 and concurrently repurchased 660,297 common shares for approximately $22.3 million. The company maintained its full year 2026 guidance of $675–$700 million in revenue and $85–$90 million in Adjusted EBITDA. Civeo Corporation is a leading provider of hospitality services with prominent market positions in the Australian natural resource regions and the Canadian oil sands.

Civeo Corporation completed a private unregistered offering of $100,000,000 aggregate principal amount of 4.50% Convertible Senior Notes due 2031, receiving net proceeds of approximately $96.2 million. The company used $22.3 million of the proceeds to repurchase 660,297 common shares concurrently with the pricing. The remaining proceeds will be used to repay outstanding borrowings under its Syndicated Facility Agreement. Civeo Corp is a provider of remote workforce accommodation and camp management services.

Civeo Corporation announced on July 1, 2026, the pricing of a $100,000,000 aggregate principal amount of 4.50% Convertible Senior Notes due 2031 in a private transaction. The company also announced a contract renewal in Western Canada for workforce accommodations and hospitality services. Civeo Corp is a provider of remote workforce accommodations and and hospitality services.