Civeo: Fourth Quarter Earnings Overview

Civeo Corp. Reports Fourth Quarter Loss

Civeo Corp., headquartered in Houston, announced on Tuesday that it recorded a net loss of $6.5 million for the fourth quarter.

This translates to a loss of 56 cents per share for the period.

The company’s performance fell short of analysts’ expectations, as the consensus from three Zacks Investment Research analysts had anticipated a loss of only 41 cents per share.

During the quarter, Civeo generated $161.6 million in revenue, which was below the $170.6 million projected by analysts surveyed by Zacks.

For the entire year, Civeo reported a total loss of $20.1 million, or $1.59 per share, with annual revenue reaching $638.8 million.

Looking ahead, the company forecasts its revenue for the upcoming year to fall between $650 million and $700 million.