Civeo Reports Fourth Quarter and Full Year 2019 Results
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Civeo (CVEO) Misses Q4 EPS by 11c, Revenues Beat; Q1 Revenue Outlook Above Consensus, FY20 Revenue Guidance Below Consensus
February 27, 2020 6:08 AM ESTCiveo (NYSE: CVEO) reported Q4 EPS of ($0.19), $0.11 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $148.69 million versus the consensus estimate of $130.05 million.
Highlights for the quarter include:
Generated $41.0 million in operating cash flow and $37.1 million in free cash flow allowing for the reduction of total debt by $34.5 million during the fourth quarter of 2019Reduced leverage ratio to 2.98x at December 31, 2019 from 3.52x as of September 30, 2019Incurred fourth quarter net loss of $32.1 million and delivered... More