We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Covanta Holding Corporation delivered fourth-quarter 2019 earnings of 9 cents per share, which beat the Zacks Consensus Estimate of earnings of 7 cents by 28.6%. The figure also increased 28.6% on a year-over-year basis.
Revenues
In the quarter under review, Covanta Holding’s revenues amounted to $485 million. The figure beat the Zacks Consensus Estimate of $479 million by 1.3%. However, the top line declined 3% on a year-over-year basis.
In 2019, the company posted revenues of $1,870 million, up 0.1% from $1,868 million in 2018.
Covanta Holding Corporation Price, Consensus and EPS Surprise
CNX Resources Corporation (CNX - Free Report) reported fourth-quarter 2019 adjusted earnings of 12 cents per share against the Zacks Consensus Estimate of a loss of 5 cents.
Murphy Oil Corporation (MUR - Free Report) reported fourth-quarter 2019 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 12 cents by 33.3%.
Panhandle Oil & Gas (PHX - Free Report) came out with quarterly earnings of 23 cents per share against the Zacks Consensus Estimate of a loss of 1 cent.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Covanta Holding's (CVA) Q4 Earnings & Revenues Beat Estimates
Covanta Holding Corporation delivered fourth-quarter 2019 earnings of 9 cents per share, which beat the Zacks Consensus Estimate of earnings of 7 cents by 28.6%. The figure also increased 28.6% on a year-over-year basis.
Revenues
In the quarter under review, Covanta Holding’s revenues amounted to $485 million. The figure beat the Zacks Consensus Estimate of $479 million by 1.3%. However, the top line declined 3% on a year-over-year basis.
In 2019, the company posted revenues of $1,870 million, up 0.1% from $1,868 million in 2018.
Covanta Holding Corporation Price, Consensus and EPS Surprise
Covanta Holding Corporation price-consensus-eps-surprise-chart | Covanta Holding Corporation Quote
Operational Update
In the reported quarter, Covanta Holding’s total adjusted operating expenses amounted to $441 million, flat year over year.
Interest expenses were $35 million, up 3% from $34 million in the prior-year quarter.
Financial Condition
Covanta Holding had cash and cash equivalents of $37 million as of Dec 31, 2019 compared with $58 million as of Dec 31, 2018.
Long-term and project debt was $2,491 million as of Dec 31, 2019 compared with $2,460 million as of Dec 31, 2018.
Net cash from operating activities at the end of 2019 was $226 million, lower than $238 million in 2018.
Guidance
Covanta Holding projects 2020 adjusted EBITDA in the range of $415-$445 million and free cash flow in the band of $100-$140 million.
Zacks Rank
Covanta Holding currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Oil & Energy Releases
CNX Resources Corporation (CNX - Free Report) reported fourth-quarter 2019 adjusted earnings of 12 cents per share against the Zacks Consensus Estimate of a loss of 5 cents.
Murphy Oil Corporation (MUR - Free Report) reported fourth-quarter 2019 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 12 cents by 33.3%.
Panhandle Oil & Gas (PHX - Free Report) came out with quarterly earnings of 23 cents per share against the Zacks Consensus Estimate of a loss of 1 cent.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>