Independent Contract Drilling: 2Q Earnings Snapshot
HOUSTON (AP) _ Independent Contract Drilling Inc. (ICD) on Thursday reported a loss of $3.3 million in its second quarter.
On a per-share basis, the Houston-based company said it had a loss of 9 cents. Losses, adjusted for one-time gains and costs, were 8 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The provider of drilling services for oil and natural gas producers posted revenue of $25.8 million in the period.
The company’s shares closed at $4.04. A year ago, they were trading at $3.60.