Civeo Corp. ( (CVEO) ) has released its Q2 earnings. Here is a breakdown of the information Civeo Corp. presented to its investors.
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Civeo Corporation is a leading provider of hospitality services, specializing in accommodations for workers in the natural resource sectors of Australia and the Canadian oil sands. The company operates lodges and villages offering a range of services including food, housekeeping, and facility management.
In its second quarter of 2025, Civeo reported revenues of $162.7 million and a net loss of $3.3 million, with an Adjusted EBITDA of $25.0 million. The company also made significant strides in its share repurchase program and completed the acquisition of four villages in Australia’s Bowen Basin.
Key financial highlights include a 4% increase in Australian segment revenues to $112.7 million, driven by the recent acquisition and improved margins in integrated services. However, the Canadian segment faced challenges with a 37% revenue decline due to reduced customer spending in the oil sands region. Civeo’s strategic focus remains on expanding its Australian operations and optimizing its Canadian business.
Looking ahead, Civeo maintains its full-year 2025 revenue guidance of $640 million to $670 million and Adjusted EBITDA guidance of $86 million to $96 million. The company plans to continue its share repurchase program and explore opportunities to diversify its business portfolio.