(RTTNews) - Civeo (CVEO) reported a fourth quarter net loss of $6.5 million, or $0.56 per diluted share compared to a net loss of $15.1 million, or $1.10 per diluted share, a year ago. Adjusted EBITDA increased to $21.7 million from $11.4 million. Revenues were $161.6 million, compared to $151.0 million.
The company said the increase in adjusted EBITDA in the fourth quarter of 2025 compared to 2024 was primarily due to margin improvement in the Canadian operations as a result of the cost reduction efforts as well as the contribution from the May 2025 Australian acquisition.
For 2026, Civeo expects revenues of $650.0 million to $700.0 million, and adjusted EBITDA of $85.0 million to $90.0 million.
In pre-market trading on NYSE, Civeo shares are down 2.95 percent to $27.00.
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