Civeo reports Q3 EPS (4c), consensus 5c

Reports Q3 revenue $170.5M, consensus $173.54M. Bradley Dodson, Civeo’s (CVEO) President and Chief Executive Officer, said, “Our third quarter consolidated results exhibited our operational and strategic efforts with continued growth in Australia and improved cost structure in Canada. In the third quarter, Civeo’s Australian business once again delivered year-over-year and sequential growth as we continued to capitalize on current customer demand. Revenues for Australia increased 10% and Adjusted EBITDA increased 13% sequentially, reflecting a full quarter’s results from the four villages acquired by Civeo in the second quarter and increased occupancy from the Company’s legacy Bowen Basin owned villages.”