Civeo Enjoys Record Results in Australia

HOUSTON & CALGARY -- Civeo Corporation, a provider of hospitality services and facility management for the energy industry, is crediting its Australian segment for the lion’s share of fourth quarter revenues.

Still, the company recorded a loss of $6.5 million, or 56 cents per share, on sales of $161.6 million, compared to loss of $15.1 million, or $1.10 per diluted share, on sales of $151 million in the same period last year.

Full year revenues were $638 million with a loss of $20 million.
Canadian fourth quarter results reflect the effects of recent cost cutting initiatives as revenues increased 4% year over year.

Bradley J. Dodson, Civeo's President and CEO said, “Our fourth quarter and full year results reflect disciplined execution in a challenging macro environment, highlighted by record annual revenues for our Australian segment.”

Civeo also announced an additional repurchase authorization of up to 10% of the company’s shares. Earlier this year, it was awarded a four-year integrated services contract with Ontario's Ministry of the Solicitor General to produce and transport 20,000 meals per day.

Throughout 2025, Dodson said, “we remain focused on what we can control — taking care of our guests, operating safely, managing costs, allocating capital thoughtfully, and strengthening our platform for long-term value creation.”

“Operationally, Australia delivered continued solid performance across both our owned villages and integrated services business, supported by the successful integration of our recent Australian acquisition of four villages,” said Dodson.

“In Canada, customer spending discipline continued to pressure occupancy levels; however, the cost actions implemented during 2025 are clearly bearing fruit. These efforts have significantly improved margins on our existing business while we position our asset base to support future demand tied to North American infrastructure and data center development.”

Civeo Corporation is a provider of hospitality services with prominent market positions in the Australian natural resource regions and the Canadian oil sands. Civeo offers comprehensive solutions for lodging hundreds or thousands of workers with its long-term and temporary accommodations and provides food services, housekeeping, facility management, laundry, water and wastewater treatment, power generation, communications systems, security and logistics services.

For more information, go to www.civeo.com.