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Covanta: 3Q Earnings Snapshot

·1 min read

MORRISTOWN, N.J. (AP) _ Covanta Holding Corp. (CVA) on Thursday reported third-quarter profit of $5 million.

On a per-share basis, the Morristown, New Jersey-based company said it had profit of 4 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The waste disposal and renewable energy company posted revenue of $491 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $464.9 million.

Covanta shares have declined 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.62, a fall of 48% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVA at https://www.zacks.com/ap/CVA