Covanta Holding Corporation CVA delivered fourth-quarter 2019 earnings of 9 cents per share, which beat the Zacks Consensus Estimate of earnings of 7 cents by 28.6%. The figure also increased 28.6% on a year-over-year basis.
In the quarter under review, Covanta Holding’s revenues amounted to $485 million. The figure beat the Zacks Consensus Estimate of $479 million by 1.3%. However, the top line declined 3% on a year-over-year basis.
In 2019, the company posted revenues of $1,870 million, up 0.1% from $1,868 million in 2018.
Covanta Holding Corporation Price, Consensus and EPS Surprise
Covanta Holding Corporation price-consensus-eps-surprise-chart | Covanta Holding Corporation Quote
In the reported quarter, Covanta Holding’s total adjusted operating expenses amounted to $441 million, flat year over year.
Interest expenses were $35 million, up 3% from $34 million in the prior-year quarter.
Covanta Holding had cash and cash equivalents of $37 million as of Dec 31, 2019 compared with $58 million as of Dec 31, 2018.
Long-term and project debt was $2,491 million as of Dec 31, 2019 compared with $2,460 million as of Dec 31, 2018.
Net cash from operating activities at the end of 2019 was $226 million, lower than $238 million in 2018.
Covanta Holding projects 2020 adjusted EBITDA in the range of $415-$445 million and free cash flow in the band of $100-$140 million.
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 Oil & Energy Releases
CNX Resources Corporation CNX reported fourth-quarter 2019 adjusted earnings of 12 cents per share against the Zacks Consensus Estimate of a loss of 5 cents.
Murphy Oil Corporation MUR reported fourth-quarter 2019 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 12 cents by 33.3%.
Panhandle Oil & Gas PHX came out with quarterly earnings of 23 cents per share against the Zacks Consensus Estimate of a loss of 1 cent.
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