Independence Contract Drilling, Inc Reports Financial Results For The Second Quarter Ended June 30, 2021 And Additional Rig Reactivations prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
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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
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 the first quarter of 2021, the Company reported revenues of $15.5 million, a net loss of $16.0 million, or $2.58 per share, adjusted net loss (defined below) of $16.4 million, or $2.64 per share, and adjusted EBITDA loss (defined below) of $2.0 million. These results compare to revenues of $38.5 million, a net loss of $28.2 million, or $7.53 per share, adjusted net loss of $10.6 million, or $2.82 per share, and adjusted E