Civeo Corp

Civeo Corporation reported a significant improvement in its first-quarter 2026 financial results, with revenue increasing to $172.7 million from $144.0 million in Q1 2025. The company also narrowed its net loss attributable to Civeo Corporation to $3.8 million, or $0.34 per share, compared to a $9.8 million loss, or $0.72 per share, in the prior year. Additionally, Civeo amended its credit agreement, increasing the revolving loan commitments to $285.0 million and extending the maturity to April 2030. The company continued its share repurchase program, buying back $14.4 million in shares, while dividends remained suspended.

Civeo Corporation, along with its subsidiaries Civeo Pty Limited, Civeo Management LLC, and Civeo USA LLC, entered into an Amended and Restated Syndicated Facility Agreement dated April 23, 2026. This agreement amends and restates their existing credit agreement from September 8, 2021. Royal Bank of Canada serves as the Administrative Agent for the U.S. and Canadian facilities, while RBC Europe Limited acts as the Australian Administrative Agent. The facility includes Australian Revolving Commitments totaling U.S.$70,000,000, with interest rates and commitment fees linked to the company's Total Net Leverage Ratio.