Independence Contract Drilling Inc reports results for the quarter ended in June - Earnings Summary

Independence Contract Drilling

07/08/2024 13:45

* Independence Contract Drilling Inc  ICD.N  reported a
quarterly
adjusted loss of 73 cents​​ per share for the quarter ended in
June, lower than the same quarter last year, when the company
reported EPS of -7 cents.  The mean expectation of two analysts
for the quarter was for a loss of 48 cents per share. Wall
Street expected results to range from -76 cents to -20 cents per
share.
    * Revenue fell 23.1% to $43.33 million from a year ago;
analysts
expected $41.86 million. 
    * Independence Contract Drilling Inc's reported EPS for the
quarter was a loss of $1.15​.
    * The company reported a quarterly loss of $16.72 million.
    * Independence Contract Drilling Inc shares had fallen
by 6.9%
this quarter and lost 50.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 43.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
drilling
peer group is also "buy"

Wall Street's median 12-month price target for Independence
Contract Drilling Inc is $3.50 
This summary was machine generated from LSEG data August 7 at
12:45 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.48          -0.73          Missed
 Mar. 31 2024      -0.48          -0.50          Missed
 Dec. 31 2023      -0.28          -0.61          Missed
 Sep. 30 2023      -0.30          -0.37          Missed