Quarterly ResultJul 30, 2026, 08:01 AM
Civeo Q2 Revenue Up 11% to $180M; Issues $115M Convertible Notes
AI Summary
Civeo Corporation reported its second quarter 2026 financial results, with revenues increasing 11% year-over-year to $180.0 million, though net loss was $2.5 million and Adjusted EBITDA saw a slight decrease. The company also announced the issuance of $115.0 million in convertible senior notes and the repurchase of approximately 660,000 common shares, completing its previous authorization and commencing a new one. Civeo maintained its full-year 2026 revenue and Adjusted EBITDA guidance.
Key Highlights
- Reported Q2 2026 revenues of $180.0 million, up 11% YoY.
- Reported Q2 2026 net loss of $2.5 million, or $0.23 per diluted share.
- Reported Q2 2026 Adjusted EBITDA of $23.8 million, down from $25.0 million YoY.
- Issued $115.0 million of 4.50% convertible senior notes due 2031.
- Repurchased 660,297 common shares for approximately $22.3 million.
- Australia segment revenues increased 11% to $125.4 million.
- Canada segment revenues increased 9% to $54.6 million.
- Maintained full year 2026 revenue guidance of $675M to $700M and Adjusted EBITDA guidance of $85M to $90M.
Price Impact
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