Civeo Reports Third Quarter 2019 Results

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Go back to Civeo Reports Third Quarter 2019 Results

Civeo (CVEO) Tops Q3 EPS by 4c, Revenues Beat

October 25, 2019 6:33 AM EDT

Civeo (NYSE: CVEO) reported Q3 EPS of $0.02, $0.04 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $148.2 million versus the consensus estimate of $146.25 million.

Highlights include:

Reported third quarter revenues of $148.2 million, net income of $4.5 million and operating cash flow of $23.6 millionDelivered third quarter Adjusted EBITDA of $36.2 million, up 62% year-over-year, and free cash flow of $20.3 millionReduced leverage ratio from 4.26x as of June 30, 2019 to 3.52x as of September 30, 2019Completed strategic acquisition of Action Industrial Catering (Action) on July 1, 2019, expanding the Companys presence in both the Integrated... More