Independence Contract Drilling (ICD) Misses Q4 EPS by 2c, Revenues Beat

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Go back to Independence Contract Drilling (ICD) Misses Q4 EPS by 2c, Revenues Beat

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 EST

HOUSTON, 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