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    Civeo Approved An Additional Buyback Of Up To 10% Of The Company's Shares Outstanding Upon Completion Of The Existing Authorization

    Benzinga·03/03/2026 11:35:17
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    • Reported fourth quarter 2025 revenues of $161.6 million, net loss of $6.5 million and operating cash flow of $19.3 million, with full year 2025 revenues of $638.8 million, net loss of $20.1 million and operating cash flow of $22.3 million;
    • Reported fourth quarter 2025 Adjusted EBITDA of $21.7 million with full year 2025 Adjusted EBITDA of $88.2 million;
    • Australian segment achieved record annual revenues of $460.3 million;
    • Canadian fourth quarter results reflect the effects of recent cost cutting initiatives as revenues increased 4% year over year while Adjusted EBITDA margins improved from -13% to 8%;
    • Repurchased 2.3 million common shares for approximately $54 million during 2025, representing approximately 17% of the Civeo common shares outstanding as of December 31, 2024. In total, the Company has repurchased 37% of its common shares since the inception of the share repurchase program in August 2021;
    • Subsequent to year-end 2025, Civeo has repurchased approximately 500,000 more common shares, resulting in 95% completion of the first phase of the company's capital allocation framework which was a 20% share repurchase authorization;
    • Announced today an additional repurchase authorization of up to 10% of the Company's shares outstanding upon completion of the existing authorization; and
    • Earlier this year, awarded a four-year integrated services contract with Ontario's Ministry of the Solicitor General to produce and transport 20,000 meals per day.