Civeo reports Q1 EPS (35c), consensus (20c)

Reports Q1 revenue $166.1M, consensus $154.73M. “Through continued safe and effective operations, our Q1 results were in line with expectations. The Q1 results were highlighted by the significant year-over-year improvement in our Australian segment with revenues up 19%, operating income up 22% and Adjusted EBITDA up 43% as a result of increased activity related to new contract awards as well as improved margins, up 360 basis points year-over-year. The year-over-year improvements in Australian results were largely offset by declines in revenues and Adjusted EBITDA in Canada with the sale of McClelland Lake Lodge and reduced LNG-related mobile camp activity.” said Bradley J. Dodson, Civeo’s President and CEO.