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

Independence Contract Drilling

01/05/2024 14:32

* Independence Contract Drilling Inc  ICD.N  reported a
quarterly
adjusted loss of 50 cents​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of 14 cents.  The mean expectation of
three analysts for the quarter was for a loss of 48 cents per
share. Wall Street expected results to range from -73 cents
to -24 cents per share.
    * Revenue fell 26.9% to $46.64 million from a year ago;
analysts
expected $41.64 million. 
    * Independence Contract Drilling Inc's reported EPS for the
quarter was a loss of 62 cents​.
    * The company reported a quarterly loss of $8.99 million.
    * Independence Contract Drilling Inc shares had risen
by 0.5% this
quarter and lost 23.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 155.7% 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." 
    * Wall Street's median 12-month price target for
Independence
Contract Drilling Inc is $4.50 

This summary was machine generated from LSEG data May 1 at 01:31
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
 Mar. 31 2024      -0.48          -0.50          Missed
 Dec. 31 2023      -0.28          -0.61          Missed
 Sep. 30 2023      -0.30          -0.37          Missed
 Jun. 30 2023      -0.19          -0.07          Beat