Independence Contract Drilling (ICD) Tops Q1 EPS by 5c

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Go back to Independence Contract Drilling (ICD) Tops Q1 EPS by 5c

Independence Contract Drilling, Inc. Reports Financial Results For The First Quarter Ended March 31, 2019

May 2, 2019 6:30 AM EDT

HOUSTON, May 2, 2019 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company") (NYSE: ICD) today reported financial results for the three months ended March 31, 2019.

First Quarter 2019 Highlights

Net loss of $2.4 million, or $0.03 per share. Adjusted net income, as defined below, of $2.9 million, or $0.04 per share. Adjusted EBITDA, as defined below, of $15.8 million. Net debt, excluding finance leases, of $122.4 million. Fleet utilization of 94.8%. Fully-burdened margin of $7,453 per day.

In the first quarter of 2019, the Company reported revenues of $60.4 million, a net... More