Civeo Raises 2026 Revenue and Adjusted EBITDA Guidance Ranges

Civeo Corporation raised its 2026 revenue and adjusted EBITDA forecasts after stronger performance so far this year, while increasing planned capital spending for contracted mobile camps.

The company now expects 2026 revenue of $710 million to $720 million and adjusted EBITDA of $89 million to $92 million. Its capital spending outlook increased to $30 million to $35 million.

About 700 contracted mobile camp rooms are expected to be deployed in late 2026 and the first quarter of 2027. Civeo expects no meaningful revenue from the rooms in 2026. Management said the related spending would be covered within the contracts, with a payback period of less than a year.

At quarter-end, Civeo had $196 million in net debt and net leverage of 2.1 times.

The Australian figures included 4% revenue growth and $23.2 million in adjusted EBITDA. Management cited diesel costs, inflation and Queensland royalties as pressures on customer margins that limited the expected benefit from high metallurgical coal prices.