Covanta Holding Corp (CVA) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Earnings Press Release
10-Q Quarterly Report
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Covanta Holding Corp
Ticker: CVA CIK: 225648

Exhibit 99.1

COVANTA HOLDING CORPORATION REPORTS

2018 SECOND QUARTER RESULTS AND

REAFFIRMS 2018 GUIDANCE

MORRISTOWN, NJ, July 26, 2018 - Covanta Holding Corporation (NYSE: CVA) ("Covanta" or the "Company"), a world leader in sustainable waste and energy solutions, reported financial results today for the three and six months ended June 30, 2018.



	Three Months Ended June 30,
	2018	2017

	(Unaudited, $ in millions, except per share amounts)
Revenue	$454	$424
Net loss	$(31)	$(37)
Adjusted EBITDA	$103	$93
Net cash provided by operating activities	$60	$18
Free Cash Flow before Working Capital	$3	$4
Free Cash Flow	$26	$(21)
Diluted EPS	$(0.24)	$(0.28)
Adjusted EPS	$(0.01)	$(0.22)

Reconciliations of non-GAAP measures can be found in the exhibits to this press release.

Key Highlights


•	Reaffirming 2018 guidance


•	Strong plant operations driving production to high end of expectations


•	Accelerated pace of EfW profiled waste growth


•	Continuing plant rationalization activities

“Our second quarter results highlight our momentum across multiple fronts," said Stephen J. Jones, Covanta's President and CEO. "Plant operations continue to show year-over-year improvement, led by the resurgence of Fairfax. Meanwhile, we are benefiting from improving waste pricing given the preferential location of our plants relative to alternative disposal during this period of strong waste flows. Improved plant production coupled with effective sales of our unique disposal capability is also driving incremental profiled waste volumes. Overall, I am very pleased with our performance to date and, in light of our current outlook for 2018, I expect our full year Adjusted EBITDA will be above the midpoint of our guidance range."

The following information was filed by Covanta Holding Corp (CVA) on Thursday, July 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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