Independence Contract Drilling, Inc. (NYSE:ICD) is expected to report third quarter earnings results, before market open, on Tuesday 3rd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter loss of $ 3.18 per share.
Looking ahead, the full year loss are expected at $ 10.87 per share on the revenues of $ 81.95 million.
Previous Quarter Performance
Independence Contract Drilling, Inc. unwinded loss for the second quarter of $ 2.73 per share, from the revenue of $ 21.38 million. Wall street analysts are predicting, ICD to report 2Q20 loss of $ 3.47 per share from revenue of $ 19.27 million. The bottom line results beat street analysts by $ 0.74 or 21.33 percent, at the same time, top line results outshined analysts by $ 2.11 million or 10.95 percent.
Stock Performance
Shares of Independence Contract Drilling, Inc. traded up $ 0.11 or 4.55 percent on Monday, reaching $ 2.43 with volume of 85.10 thousand shares. Independence Contract Drilling, Inc. has traded high as $ 2.48 and has cracked $ 2.28 on the downward trend
The closing price of $ 2.43, representing a 114.81 % increase from the 52 week low of $ 1.08 and a 90.41 % decrease over the 52 week high of $ 24.20.
The company has a market capital of $ 12.58 million and is part of the Energy sector and Oil & Gas Drilling industry.
Conference Call
Independence Contract Drilling, Inc. will be hosting a conference call at 12:00 PM eastern time on 3rd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.icdrilling.com
Independence Contract Drilling, Inc. provides land-based contract drilling services for oil and natural gas producers in the United States. The company constructs, owns, and operates a fleet of pad-optimal ShaleDriller rigs that are engineered and designed to optimize the development of various oil and natural gas properties in the Permian Basin and the Haynesville Shale.
