Stonegate Capital Partners Updates Coverage on Independence Contract Drilling, Inc (ICD) Q1 2023

May 10, 2023 5:50 PM EDT | Source: Reportable, Inc.

Dallas, Texas--(Newsfile Corp. - May 10, 2023) - Independence Contract Drilling, Inc (NYSE: ICD): Stonegate Capital Partners updates coverage on Independence Contract Drilling, Inc. The full report can be accessed by clicking on the following link: ICD Q1 2023 Report

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • Margins per day continue to increase with Q123 representing an 8% improvement over Q422
  • Strong backlog of $56.3 million, all of which is expected to be realized in 2023
  • Management is guiding towards a leverage ratio of 2x before the end of 2023, further strengthening the balance sheet

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About StonegateStonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

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