Independence Contract Drilling (ICD) Tops Q1 EPS by 1c, Revenues Beat

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Go back to Independence Contract Drilling (ICD) Tops Q1 EPS by 1c, Revenues Beat

Independence Contract Drilling, Inc. Reports Financial Results For The First Quarter 2020

May 7, 2020 6:45 AM EDT

HOUSTON, May 7, 2020 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three months ended March 31, 2020.

First Quarter 2020 Highlights

Net loss of $28.2 million, or $7.53 per share. Adjusted net loss, as defined below, of $10.6 million, or $2.82 per share. Adjusted EBITDA, as defined below, of $5.1 million. Net debt, excluding finance leases and net of deferred financing costs, of $128.9 million. Marketed fleet utilization of 66%. Fully burdened margin of $5,175 per day.

In the... More