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

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

Independence Contract Drilling, Inc. Reports Financial Results For The First Quarter Ended March 31, 2017

April 27, 2017 6:30 AM EDT

HOUSTON, April 27, 2017 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today reported financial results for the three months ended March 31, 2017. 

First Quarter 2017 Highlights

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... More