Independence Contract Drilling (ICD) Tops Q1 EPS by 10c, Revenues Miss

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Go back to Independence Contract Drilling (ICD) Tops Q1 EPS by 10c, Revenues Miss

Independence Contract Drilling, Inc. Reports Financial Results For The First Quarter Ended March 31, 2021 And Announces Additional Rig Reactivations

May 4, 2021 6:45 AM EDT

HOUSTON, May 4, 2021 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three months ended March 31, 2021.

First quarter 2021 Highlights

Net loss of $16.0 million, or $2.58 per share. Adjusted net loss, as defined below, of $16.4 million, or $2.64 per share. Adjusted EBITDA loss, as defined below, of $2.0 million. Net debt, excluding finance leases and net of deferred financing costs, of $132.1 million. Marketed fleet utilization of 43%. Fully burdened margin of $2,802 per day.

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