Independence Contract Drilling (ICD) Tops Q1 EPS by 10c, Revenues Miss
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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 EDTHOUSTON, 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.In... More
