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Covanta Holding (CVA) Incurs Wider-Than-Expected Loss in Q1
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Covanta Holding Corporation incurred a loss of 24 cents per share in first-quarter 2020, which was wider than the Zacks Consensus Estimate of a loss of 22 cents. The figure compares unfavourably with earnings of 3 cents in the year-ago quarter.
Revenues
In the quarter under review, Covanta Holding’s revenues amounted to $468 million. The figure beat the Zacks Consensus Estimate of $457 million by 2.4%. The top line also increased 3.3% on a year-over-year basis.
Highlights of The Release
At the end of the first quarter, the company’s EBITDA amounted to $97 million compared with $84 million a year ago.
In the reported quarter, Covanta Holding’s total adjusted operating expenses amounted to $480 million, up 4.12% year over year.
Interest expenses were $34 million, down 5.5% from $36 million in the prior-year quarter.
Covanta Holding Corporation Price, Consensus and EPS Surprise
Covanta Holding had cash and cash equivalents of $42 million as of Mar 31, 2020 compared with $37 million as of Dec 31, 2019.
Long-term and project debt was $2,407 million as of Mar 31, 2020 compared with $2,336 million as of Dec 31, 2019.
Net cash from operating activities at the end of the first quarter of 2020 was $61 million, higher than $37 million at the end of the first quarter of 2019.
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2020 adjusted earnings per share (EPS) of 13 cents against the Zacks Consensus Estimate of a loss of 18 cents.
WPX Energy Inc.’s first-quarter 2020 earnings of 7 cents per share beat the Zacks Consensus Estimate by 40%.
TOTAL reported first-quarter 2020 adjusted EPS of 66 cents, which beat the Zacks Consensus Estimate of 55 cents by 20%.
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Covanta Holding (CVA) Incurs Wider-Than-Expected Loss in Q1
Covanta Holding Corporation incurred a loss of 24 cents per share in first-quarter 2020, which was wider than the Zacks Consensus Estimate of a loss of 22 cents. The figure compares unfavourably with earnings of 3 cents in the year-ago quarter.
Revenues
In the quarter under review, Covanta Holding’s revenues amounted to $468 million. The figure beat the Zacks Consensus Estimate of $457 million by 2.4%. The top line also increased 3.3% on a year-over-year basis.
Highlights of The Release
At the end of the first quarter, the company’s EBITDA amounted to $97 million compared with $84 million a year ago.
In the reported quarter, Covanta Holding’s total adjusted operating expenses amounted to $480 million, up 4.12% year over year.
Interest expenses were $34 million, down 5.5% from $36 million in the prior-year quarter.
Covanta Holding Corporation Price, Consensus and EPS Surprise
Covanta Holding Corporation price-consensus-eps-surprise-chart | Covanta Holding Corporation Quote
Financial Condition
Covanta Holding had cash and cash equivalents of $42 million as of Mar 31, 2020 compared with $37 million as of Dec 31, 2019.
Long-term and project debt was $2,407 million as of Mar 31, 2020 compared with $2,336 million as of Dec 31, 2019.
Net cash from operating activities at the end of the first quarter of 2020 was $61 million, higher than $37 million at the end of the first quarter of 2019.
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 Releases
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2020 adjusted earnings per share (EPS) of 13 cents against the Zacks Consensus Estimate of a loss of 18 cents.
WPX Energy Inc.’s first-quarter 2020 earnings of 7 cents per share beat the Zacks Consensus Estimate by 40%.
TOTAL reported first-quarter 2020 adjusted EPS of 66 cents, which beat the Zacks Consensus Estimate of 55 cents by 20%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>