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Covanta reports 1Q loss

MORRISTOWN, N.J. (AP) _ Covanta Holding Corp. (CVA) on Tuesday reported a loss of $52 million in its first quarter.

The Morristown, New Jersey-based company said it had a loss of 41 cents per share. Losses, adjusted for non-recurring costs, were 37 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share.

The waste disposal and renewable energy company posted revenue of $404 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $399.7 million.

Covanta shares have dropped 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.10, a decline of nearly 9 percent in the last 12 months.


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


Keywords: Covanta, Earnings Report