Independence Contract Drilling (ICD) Misses Q4 EPS by 1c, Revenues Beat
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Independence Contract Drilling, Inc. Reports Financial Results For The Fourth Quarter And Year Ended December 31, 2019 And Announces 1-For-20 Reverse Stock Split
February 28, 2020 6:45 AM ESTHOUSTON, Feb. 28, 2020 /PRNewswire/ --Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three and twelve months ended December 31, 2019.
Fourth Quarter 2019 Highlights
Net loss of $35.0 million, or $0.47 per share. Adjusted net loss, as defined below, of $7.7 million, or $0.10 per share. Adjusted EBITDA, as defined below, of $7.2 million. Net debt, excluding finance leases and net of deferred financing costs, of $122.3 million. Marketed fleet utilization of 77%. Fully burdened margin of $5,534 per... More