Civeo keeps its FY 2026 capex guidance range of $25M to $30M

Civeo Corporation (NYSE: CVEO) has maintained its full-year 2026 capital expenditures (capex) guidance range of $25 million to $30 million, as disclosed in first-quarter 2026 earnings report. This guidance aligns with the company’s ongoing focus on disciplined capital allocation and operational efficiency. During the first quarter of 2026, Civeo invested $4.1 million in capital expenditures, primarily for maintenance-related spending on lodges.

The company’s capex guidance reflects its strategic emphasis on preserving liquidity while supporting the long-term performance of its operations in Australia and Canada. Civeo’s Australian segment, which contributes a significant portion of its revenue, continues to generate stable cash flow, while the Canadian segment benefits from cost reduction initiatives and improved occupancy.

Civeo’s capital allocation strategy also includes returning value to shareholders through share repurchases. In the first quarter of 2026, the company repurchased approximately 0.5 million shares for $14.4 million, completing 96% of its authorized repurchase program. The company’s recent credit agreement amendment, which extended its maturity to April 2030 and increased total revolving capacity to $285 million, further supports its financial flexibility.

With its capex guidance unchanged, Civeo remains focused on balancing investment in its core operations with prudent financial management to support long-term value creation.