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Dec 31, 2024
Civeo Q4 2025 Earnings Report
Civeo Q4 2025 Earnings Report
Key Takeaways
Civeo reported a strong fourth quarter with revenue growth and significant margin improvement, particularly in Canada, despite a net loss. The company achieved record annual revenues in Australia and continued its aggressive capital return strategy through substantial share repurchases.
Fourth quarter revenue increased 7% year-over-year to $161.6 million.
Adjusted EBITDA for Q4 rose significantly to $21.7 million from $11.4 million in the prior year.
The Canadian segment returned to positive Adjusted EBITDA of $3.4 million due to successful cost-cutting initiatives.
Civeo repurchased 17% of its outstanding common shares during 2025 and authorized a new 10% repurchase program.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2026, Civeo expects revenue growth and stable Adjusted EBITDA while continuing capital investments.
Positive Outlook
- Expected full year 2026 revenues between $650 million and $700 million.
- Anticipated Adjusted EBITDA between $85 million and $90 million.
- New 10% share repurchase authorization announced.
- Contribution from new four-year integrated services contract in Ontario.
- Improved Canadian margins expected to persist following cost actions.
Challenges Ahead
- Projected net loss for FY 2026 between $10.5 million and $14.5 million.
- Increased capital expenditure guidance of $25 million to $30 million.
- Continued customer spending discipline in Canada pressuring occupancy.
- Exposure to fluctuations in commodity prices (oil, coal, iron ore).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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