MORRISTOWN, N.J. (AP) _ Covanta Holding Corp. (CVA) on Thursday reported third-quarter net income of $14 million, after reporting a loss in the same period a year earlier.
The Morristown, New Jersey-based company said it had profit of 10 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The waste disposal and renewable energy company posted revenue of $465 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $464.8 million.
Covanta shares have risen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.90, a drop of 5% in the last 12 months.