Independence Contract Drilling (ICD) Misses Q2 EPS by 40c

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Go back to Independence Contract Drilling (ICD) Misses Q2 EPS by 40c

Independence Contract Drilling, Inc. Reports Unaudited Financial Results for the Second Quarter Ended June 30, 2022 and Announces Initiation of 200 Series-to-300 Series Conversion Program and Increase

August 4, 2022 6:45 AM EDT

HOUSTON, Aug. 4, 2022 /PRNewswire/ -- Independence Contract Drilling, Inc. (the "Company" or "ICD") (NYSE: ICD) today reported financial results for the three months ended June 30, 2022.

Second quarter 2022 Highlights

Net loss, as defined below, of $2.8 million, or $0.21 per share.Adjusted net loss, as defined below, of $9.8 million, or $0.72 per share.Adjusted EBITDA, as defined below, of $9.2 million, representing an approximate 158% sequential improvement from the first quarter of 2022.Adjusted net debt, as defined below, of $158.0... More