Civeo Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 20% revenue and 78% Adjusted EBITDA growth year-over-year, driven by strong occupancy in Canada and Australia, with raised revenue guidance for 2026. Inflation and energy market disruptions may impact margins, but robust project pipelines and disciplined capital allocation support a positive outlook.
Fiscal Year 2025
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Q4 2025 saw 7% revenue growth and a 90% jump in adjusted EBITDA, driven by Australian expansion and Canadian margin recovery. 2026 guidance calls for stable performance, continued share buybacks, and positioning for infrastructure and data center growth opportunities.
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Q3 2025 saw strong Australian growth and improved Canadian profitability from cost-cutting, despite revenue headwinds. Share repurchases accelerated, with 69% of the new authorization completed. 2025 guidance was tightened, and 2026 is expected to show modest growth, supported by new opportunities in both regions.
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Q2 saw strong Australian growth and major share repurchases, offset by Canadian weakness and a net loss. Guidance for 2025 remains unchanged, with free cash flow and buybacks expected to improve in the second half.
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Q1 2025 saw strong Australian growth but significant Canadian headwinds, leading to lower guidance for revenue, EBITDA, and free cash flow. Capital allocation shifted to prioritize share repurchases, with the dividend suspended and 100% of free cash flow allocated to buybacks.
Fiscal Year 2024
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Australian operations drove strong Q4 and full-year growth, offsetting Canadian weakness from reduced oil sands and LNG activity. 2025 guidance reflects currency headwinds and continued Canadian uncertainty, while capital returns and Australian expansion remain priorities.
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Australian segment delivered strong growth, offsetting Canadian weakness from wildfires and LNG wind-down. 2024 guidance tightened, with 2025 EBITDA expected to exceed $90 million, driven by continued Australian expansion and stable Canadian operations.
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Q2 2024 saw revenue and free cash flow growth, with strong Australian performance offsetting Canadian LNG headwinds. Guidance for 2024 is maintained, with robust liquidity, low leverage, and continued shareholder returns.