Civeo Corporation has reported its second quarter 2025 financial results, revealing revenues of $188.7 million and a net income of $8.2 million, translating to $0.56 per diluted share. The company generated an operating cash flow of $32.4 million and Adjusted EBITDA of $31.9 million during this period. The year-over-year decrease in Adjusted EBITDA was primarily attributed to decreased billed rooms at the Canadian lodges due to ongoing customer spending reductions, including lower turnaround activity. Operating cash flow saw a decline, impacted by a $9.4 million one-time collection of holdbacks from the wind-down of LNG-related mobile camp activity in the second quarter of 2024 and Australian cash taxes of approximately $15.8 million, including a one-time $9.4 million payment related to the 2024 tax year. The Australian segment experienced a 4% increase in revenue period-over-period, with Adjusted EBITDA up by 10%. This growth was driven by the acquisition of four owned-villages in the Bowen Basin, which added $4.9 million to revenues in the last two months of the quarter, and margin improvements in the integrated services business. The acquisition and associated take-or-pay contracts have bolstered Civeo's presence in the region. Looking forward, Civeo is maintaining its full year 2025 revenue forecast range of $640 million to $670 million and Adjusted EBITDA guidance of $86 million to $96 million. The company also upholds its capital expenditure guidance for the year at $20 million to $25 million.