Independence Contract Drilling (ICD) Reports In-Line Q1 EPS

Independence Contract Drilling (NYSE: ICD) reported Q1 EPS of ($0.14), in-line with the analyst estimate of ($0.14). Revenue for the quarter came in at $20.2 million versus the consensus estimate of $19.76 million.

• Net loss of $6.3 million, or $0.17 per share.
• Adjusted net loss, as defined below, of $5.3 million, or $0.14 per share.
• Adjusted EBITDA, as defined below, of $2.6 million.
• Fleet utilization of 91.7%.
• Revenue days of 1,073.
• Margin per day, excluding reactivation and construction costs, of $6,019 per day.
• Commencement of final 100 Series rig conversion, which will mobilize under a multi-year contract in the third quarter of 2017.
• Expansion of the Company\'s backlog by 66% to $70.6 million as of March 31, 2017.

For earnings history and earnings-related data on Independence Contract Drilling (ICD) click here.

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