Independence Contract Drilling (ICD) Misses Q4 EPS by 2c, Revenues Beat
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Independence Contract Drilling, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2020 and Announces Additional Rig Reactivations
February 24, 2021 6:45 AM ESTHOUSTON, Feb. 24, 2021 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three and twelve months ended December 31, 2020 and announced additional rig reactivations.
Fourth Quarter 2020 Highlights
Net loss of $43.1 million, or $7.02 per share. Adjusted net loss, as defined below, of $16.3 million, or $2.65 per share. Adjusted EBITDA loss, as defined below, of $1.5 million. Net debt, excluding finance leases and net of deferred financing costs, of $125.1 million. Marketed fleet utilization of 27%. Fully burdened margin... More