Covanta Holding Corporation (CVA - Free Report) incurred a loss of 24 cents per share in first-quarter 2020, which was wider than the Zacks Consensus Estimate of a loss of 22 cents. The figure compares unfavourably with earnings of 3 cents in the year-ago quarter.
In the quarter under review, Covanta Holding’s revenues amounted to $468 million. The figure beat the Zacks Consensus Estimate of $457 million by 2.4%. The top line also increased 3.3% on a year-over-year basis.
Highlights of The Release
At the end of the first quarter, the company’s EBITDA amounted to $97 million compared with $84 million a year ago.
In the reported quarter, Covanta Holding’s total adjusted operating expenses amounted to $480 million, up 4.12% year over year.
Interest expenses were $34 million, down 5.5% from $36 million in the prior-year quarter.
Covanta Holding had cash and cash equivalents of $42 million as of Mar 31, 2020 compared with $37 million as of Dec 31, 2019.
Long-term and project debt was $2,407 million as of Mar 31, 2020 compared with $2,336 million as of Dec 31, 2019.
Net cash from operating activities at the end of the first quarter of 2020 was $61 million, higher than $37 million at the end of the first quarter of 2019.
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.
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2020 adjusted earnings per share (EPS) of 13 cents against the Zacks Consensus Estimate of a loss of 18 cents.
WPX Energy Inc.’s (WPX - Free Report) first-quarter 2020 earnings of 7 cents per share beat the Zacks Consensus Estimate by 40%.
TOTAL (TOT - Free Report) reported first-quarter 2020 adjusted EPS of 66 cents, which beat the Zacks Consensus Estimate of 55 cents by 20%.
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