Civeo (CVEO) Tops Q2 EPS by 5c; Guides FY16 Revenue Above Expectations
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Civeo Corporation Reports Third Quarter 2016 Results
October 31, 2016 7:30 AM EDTHOUSTON, Oct. 31, 2016 (GLOBE NEWSWIRE) -- Civeo Corporation (NYSE: CVEO) today reported financial and operating results for the third quarter ended September 30, 2016.
Highlights include:Â Â Â Â Â
Financial results for each division and on a consolidated basis exceeded guidance due to the Companys continued cost control, higher occupancy in Canada after the Ft. McMurray forest fires, and slightly higher than anticipated occupancy and average daily rates in AustraliaThe Company generated $13.7 million in operating cash flow and $10.7 million in free cash flow and reduced debt by $15 million... More