Civeo Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on October 30, 2026, reporting third-quarter revenue of $193.1 million and a return to net income after two consecutive loss quarters.

Key Highlights

  • Q3 2026 revenue of $193,101 thousand, up from $170,491 thousand in Q3 2025, according to the filing.
  • Net income attributable to Civeo Corporation of $5,179 thousand in Q3 2026, compared to a net loss of $455 thousand in Q3 2025.
  • Nine-month net loss of $1,150 thousand for the period ended September 30, 2026, compared to a loss of $13,611 thousand for the same period in 2025.
  • Basic and diluted EPS of $0.50 for Q3 2026, versus a loss of $0.04 per share in Q3 2025.
  • Long-term debt, net, increased to $212,978 thousand as of September 30, 2026, from $182,842 thousand at December 31, 2025.
  • 10,336,859 common shares outstanding as of October 26, 2026, down from 11,434,033 at December 31, 2025, reflecting share repurchase activity.
  • Cash and cash equivalents of $24,282 thousand at September 30, 2026, up from $14,439 thousand at December 31, 2025.

Civeo Corporation Q3 2026 Financial Results: Revenue Growth and Return to Quarterly Profit

According to the filing, Civeo Corporation (NYSE:CVEO) reported third-quarter 2026 revenue of $193,101 thousand, an increase from $170,491 thousand in the third quarter of 2025. Service and other costs rose to $146,814 thousand from $126,704 thousand in the prior-year quarter, while selling, general and administrative expenses were $18,604 thousand compared to $18,107 thousand. Depreciation and amortization declined to $15,714 thousand from $20,012 thousand year over year. Operating income for the quarter was $13,300 thousand, compared to $6,966 thousand in Q3 2025.

For the nine months ended September 30, 2026, the company disclosed revenue of $545,785 thousand versus $477,229 thousand for the same period in 2025. The nine-month operating income was $21,515 thousand, compared to $4,250 thousand a year earlier. Interest expense for the nine-month period rose to $12,432 thousand from $7,740 thousand, and income tax expense was $10,545 thousand versus $10,732 thousand. The nine-month net loss attributable to Civeo Corporation was $1,150 thousand, an improvement from the $13,611 thousand loss in the comparable 2025 period.

The consolidated balance sheet as of September 30, 2026 showed total assets of $493,623 thousand and total liabilities of $349,380 thousand, leaving total shareholders' equity of $144,243 thousand. The filing noted that the company repurchased common shares during the periods presented, with Q3 2026 repurchases reflected as a $22,292 thousand reduction in accumulated deficit. Treasury shares stood at 450,184 at September 30, 2026, versus 437,995 at December 31, 2025. No dividends per common share were declared in the first nine months of 2026; the prior-year nine-month period included $0.25 per share in dividends.

What Was Disclosed

Civeo Corporation's 10-Q for the quarter ended September 30, 2026 disclosed quarterly and year-to-date income statements, a balance sheet, changes in shareholders' equity, and related notes, covering operations, debt levels, share repurchases, and earnings per share data.