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Covanta posts higher earnings in Q3'19

Covanta Holding Corp. on Oct. 24 reported adjusted EBITDA of $125 million in the third quarter, compared to $122 million in the same quarter a year ago.

The company booked net income of $14 million, or 10 cents per diluted share, compared to a net loss of $27 million, or a loss of 21 cents per diluted share, a year ago. The S&P Global Market Intelligence consensus GAAP EPS estimate for Covanta was 8 cents.

Covanta posted operating income of $44 million, up from $2 million in the prior-year quarter, and operating revenue of $465 million, up from $456 million in the third quarter of 2018.

The company reaffirmed its full-year 2019 adjusted EBITDA guidance of $420 million to $445 million.