Civeo Q4 Earnings Call Highlights

In response to analyst questions about priorities once the 20% program is complete, management said there has been “no change” to the capital allocation framework announced last April. Dodson said phase two is to use “no less than 75% of annual free cash flow to continue to buy back stock,” and management indicated that approach would keep leverage at about two times or less.Alongside that update, Civeo announced a new authorization to purchase up to 10% of its outstanding shares, which will become effectiv ...