Civeo (CVEO) Misses Q4 EPS by 11c, Revenues Beat; Q1 Revenue Outlook Above Consensus, FY20 Revenue Guidance Below Consensus

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Go back to Civeo (CVEO) Misses Q4 EPS by 11c, Revenues Beat; Q1 Revenue Outlook Above Consensus, FY20 Revenue Guidance Below Consensus

Civeo Reports Fourth Quarter and Full Year 2019 Results

February 27, 2020 6:00 AM EST

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)-- Civeo Corporation (NYSE: CVEO) today reported financial and operating results for the fourth quarter and year ended December 31, 2019.

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 2019 Reduced leverage ratio to 2.98x at December 31, 2019 from 3.52x as of September 30, 2019 Incurred fourth quarter net loss of $32.1 million and delivered Adjusted EBITDA of $29.9... More