10-K · March 3, 2026
Civeo generated $638.8 million of revenue in 2025, down from $682.1 million in 2024 and $700.8 million in 2023, with operating income of $4.1 million in 2025 (vs. $1.3 million in 2024 and $39.5 million in 2023). The…
Earnings analysis · 10-Q
CVEO earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Civeo Corporation reported significant improvements in Q1 2026, with revenues of $172.7 million, surpassing estimates of $154.7 million. The company reduced its net loss to $3.8 million from $9.8 million a year prior,…
Read full summary
Civeo Corporation reported significant improvements in Q1 2026, with revenues of $172.7 million, surpassing estimates of $154.7 million. The company reduced its net loss to $3.8 million from $9.8 million a year prior, with a notable EPS improvement to -$0.34 from -$0.72. Notably, Civeo raised its full-year revenue guidance to $675-$700 million, reflecting favorable market conditions driven by the Qantac Acquisition and increased service demand.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.34
What stood out
-
Revenue Surged 20% YoY
Q1 2026 revenues reached $172.7 million, up from $144 million in Q1 2025.
-
Substantial EPS Improvement
Reported EPS improved to -$0.34 in Q1 2026 from -$0.72 in Q1 2025.
-
Increased Revenue Guidance
Full-year revenue guidance raised to $675-$700 million from $650-$700 million.
-
Strong Segment Growth
Australian segment revenue increased by $19.4 million (19% YoY); Canadian up by $9.3 million (23% YoY).
-
Cash Position Strengthens
Cash and cash equivalents rose to $16.5 million from $14.4 million at the prior quarter.
-
Operating Income Turnaround
Operating income reached $3.1 million in Q1 2026, reversing a $5.5 million loss in Q1 2025.
What to watch
-
Increased Interest Expense
Interest expense increased to $3.7 million in Q1 2026, up from $1.6 million last year, due to higher debt levels.
-
Labor Market Pressures
Labor shortages increased staff costs, contributing to inflationary pressures on service delivery.
-
Negative Cash Flow from Operations
Net cash used in operations was $9.7 million for Q1 2026, worse than $8.4 million used last year.
Management's outlook
Revenue guidance raised from prior range of $650M-$700M.
Earlier filings 4
10-Q · October 31, 2025
Civeo reported Q3 2025 revenue of $170.5M and a small GAAP loss of $(0.04) per share, with operating income of $7.0M driven by stronger Australia performance and higher margins. However, leverage jumped after the Qantac…
10-Q · July 29, 2025
Civeo reported Q2 revenue of $162.7M, down $26.0M (‑13.8%) year‑over‑year but up $18.7M (13.0%) versus Q1 2025. Gross margin held at ~25.3% while operating margin compressed to ~1.8% and the company reported diluted EPS…
10-Q · April 30, 2025
Civeo reported Q1 2025 revenue of $144,044,000, down versus both the prior quarter and prior year, with a net loss of $9.8 million (diluted EPS $(0.72)). Australia drove growth (Australia revenue $103,646,000, up…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.