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Recap: Independence Contract Q1 Earnings

Benzinga Insights

Shares of Independence Contract (NYSE:ICD) rose 4.8% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 7150.00% year over year to ($2.82), which beat the estimate of ($2.83).

Revenue of $38,494,000 lower by 36.22% from the same period last year, which beat the estimate of $37,100,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: May 07, 2020

View more earnings on ICD

Webcast URL: http://icdrilling.investorroom.com/eventsandwebcasts

Recent Stock Performance

Company's 52-week high was at $14.39

52-week low: $0.12

Price action over last quarter: down 8.56%

Company Overview

Independence Contract Drilling Inc is engaged in providing land-based contract drilling services for oil and natural gas producers. The company constructs its own and operates a premium land rig fleet. It develops and assembles its ShaleDriller series rig which is used for the development of oil and gas properties. The company's customers for contract drilling services in the United States include oil and natural gas companies, independent oil and natural gas companies, as well as various small to mid-sized publicly-traded and privately held oil and gas companies.

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