Civeo (CVEO) Misses Q1 EPS by 14c

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Civeo Reports First Quarter 2021 Results

April 30, 2021 6:30 AM EDT

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)-- Civeo Corporation (NYSE: CVEO) today reported financial and operating results for the first quarter ended March 31, 2021.

Highlights include:

Reported first quarter revenues of $125.4 million, net loss of $10.0 million and operating cash flow of $12.8 million; Delivered first quarter Adjusted EBITDA of $16.2 million and free cash flow of $16.1 million; and Reduced total debt to $238.1 million as of March 31, 2021 from $251.1 million as of December 31, 2021.

Despite recent macroeconomic headwinds and winter seasonality, we continued to generate solid free... More