Civeo Corporation Q1 2026 Earnings Results and Financial Performance

Civeo Corporation reported its first quarter 2026 financial results, showing significant year-over-year improvements. The company generated revenues of $172.7 million, representing 20% growth compared to Q1 2025, and reported a net loss of $3.8 million, an improvement from the $9.8 million loss in the prior year. Adjusted EBITDA increased 78% to $22.5 million. The Australian segment saw 19% revenue growth to $123.0 million, driven by recently acquired villages and increased integrated services activity. The Canadian segment achieved 23% revenue growth to $49.6 million with strong margin expansion due to higher occupancy and cost reduction initiatives. The company repurchased 0.5 million common shares (approximately 4% of outstanding shares) during the quarter. Subsequent to quarter-end, Civeo amended its credit agreement, extending maturity to April 2030 and increasing revolving capacity to $285 million. The company raised the low end of its full-year 2026 revenue guidance to $675-700 million while maintaining Adjusted EBITDA guidance of $85-90 million.