Quarterly ResultJul 30, 2026, 01:11 PM
Civeo Q2 Revenue $180M, Net Loss Narrows to $(2.5M)
AI Summary
Civeo Corporation reported improved financial results for the second quarter of 2026, with revenue increasing to $180.0 million and net loss narrowing to $(2.5) million. Operating income significantly increased, reflecting stronger performance in both Australia and Canada segments. The company also amended its credit agreement, expanding its revolving loan commitments and extending the maturity date, and continued its share repurchase program.
Key Highlights
- Q2 2026 Revenue increased 10.6% to $180.0 million from $162.7 million in Q2 2025.
- Q2 2026 Net loss attributable to Civeo Corporation narrowed to $(2.5) million from $(3.3) million in Q2 2025.
- Q2 2026 Basic net loss per share improved to $(0.23) from $(0.25) in Q2 2025.
- Q2 2026 Operating income more than doubled to $5.1 million from $2.8 million in Q2 2025.
- Australia segment revenue for Q2 2026 was $125.4 million, up from $112.7 million in Q2 2025.
- Canada segment revenue for Q2 2026 was $54.6 million, up from $50.0 million in Q2 2025.
- Amended Credit Agreement increased revolving loan commitments to $285.0 million and extended maturity to April 23, 2030.
- Repurchased 511.0 thousand common shares for $14.4 million during the six months ended June 30, 2026.
Price Impact
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