Independence Contract Drilling (ICD) Reports In-Line Q3 EPS

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Go back to Independence Contract Drilling (ICD) Reports In-Line Q3 EPS

Independence Contract Drilling, Inc. Reports Financial Results For The Third Quarter Ended September 30, 2018

November 6, 2018 6:30 AM EST

HOUSTON, Nov. 6, 2018 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today reported financial results for the three months ended September 30, 2018. 

Third Quarter 2018 Highlights

Record quarterly revenues of $28.4 million. Net loss of $3.9 million, or $0.10 per share. Adjusted net loss, as defined below, of $1.8 million, or $0.05 per share. Adjusted EBITDA, as defined below, of $6.8 million. Fleet utilization of 99.0%. Record revenue days of 1,345. Fully-burdened margin per day of $7,552 per day.

In the third quarter of 2018, the Company... More