Independence Contract: Q2 Earnings Insights

Shares of Independence Contract ICD remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share rose 20.15% over the past year to ($2.18), which beat the estimate of ($2.50).

Revenue of $19,817,000 decreased by 7.31% year over year, which missed the estimate of $21,100,000.

Guidance

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

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

Conference Call Details

Date: Aug 04, 2021

Time: 12:00 PM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/948/42127

Technicals

52-week high: $7.97

Company's 52-week low was at $2.12

Price action over last quarter: down 10.37%

Company Description

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.