MORRISTOWN, N.J. (AP) _ Covanta Holding Corp. (CVA) on Thursday reported a loss of $13 million in its second quarter.
The Morristown, New Jersey-based company said it had a loss of 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 19 cents per share.
The waste disposal and renewable energy company posted revenue of $454 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $450.3 million.
Covanta shares have dropped 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.54, a decline of 45% in the last 12 months.