Wednesday, Covanta Holding Corp. (CVA) reported third-quarter net income attributable to Covanta Holding Corp. of $40.9 million or $0.26 per share, compared to net income of $47.1 million or $0.30 per share in the same quarter last year.
Excluding the transaction expense related to the acquisition of Veolia Energy-from-Waste facilities earnings for the quarter were $0.28 per share, down from $0.30 per share in the prior year quarter.
On average, nine analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for the quarter were $409 million, down 7% from $439 million in the comparable quarter last year. Analysts expected the company to report revenue of $387.85 million for the quarter.
Looking ahead to the full year 2009, the company reaffirmed its earnings guidance range of $0.65 - $0.80 per share. Analysts currently anticipate the company to earn $0.69 per share.
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