Civeo Reports Q2 2026 Earnings with Revenue Growth but Faces Inflationary Pressures
Civeo (CVEO) reported second-quarter revenue of $180 million for the period ending June 30, 2026, an 11% increase from $162.7 million in Q2 2025. Despite this growth, the company posted a net loss of $2.5 million compared to a prior-year loss of $3.3 million. Adjusted EBITDA declined slightly to $23.8 million due to start-up costs and inflationary pressures. In Australia, revenue rose 11% year-over-year to $125.4 million driven by the strengthening Australian dollar but was offset by higher fuel costs and customer caution. Canada saw increased occupancy and a new contract in Ontario, boosting revenue to $54.6 million from $50 million last year. The company also completed its share repurchase program for 2025 and issued convertible senior notes worth $115 million.
