Civeo (CVEO) Tops Q2 EPS by 2c; Hikes EBITDA and Revenue Guidance

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Go back to Civeo (CVEO) Tops Q2 EPS by 2c; Hikes EBITDA and Revenue Guidance

Civeo Reports Second Quarter 2022 Results

July 29, 2022 6:30 AM EDT

Second Quarter Highlights include:

Reported second quarter revenues of $185.0 million and net income of $9.1 million; Reduced net leverage ratio to 1.18x as of June 30, 2022 from 1.40x as of March 31, 2022; Delivered second quarter Adjusted EBITDA of $37.1 million; Awarded a 12-year contract renewal at Wapasu Lodge in the Canadian oil sands including approximately C$500 million of guaranteed take-or-pay revenues; and Today announced a 5-year integrated services contract with a new customer in South Australia with expected revenues of A$120 million.

HOUSTON & CALGARY, Alberta--(BUSINESS WIRE)-- Civeo Corporation (NYSE:... More