Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Covanta Holding Slips To Loss In Q1; Backs FY12 Adj. EPS View - Quick Facts

RELATED NEWS
Trade CVA now with 

Covanta Holding Corp. (CVA: Quote) reported that its first-quarter net loss attributable to the company was $12 million or $0.09 per share, compared to net income of $133 million or $0.91 per share in the same quarter last year.

Loss from continuing operations narrowed to $11 million from $14 million in the year ago quarter.

Adjusted loss narrowed to $0.09 per share from $0.10 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues grew 4%, to $392 million, from $377 million prior year. Seven analysts had consensus revenue estimate of $ 386.54 million for the quarter. The increase was primarily attributed to higher construction revenues, increased revenue from service fee contract escalations and increased recycled metal revenues due to organic growth initiatives which increased volume as well as higher pricing from improved quality.

The company still expects 2012 adjusted earnings per share in the range of $0.55-$0.65. Analysts expect the company to report earnings of $0.60 per share for fiscal 2012.

Click here to receive FREE breaking news email alerts for Covanta Holding Corporation and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.