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

Covanta Holding Corp

CIK: 225648 Ticker: CVA
Exhibit 99.1
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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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income - Parenthetical
Condensed Consolidated Statements Of Operations
Acquisitions And Dispositions (Details)
Acquisitions And Dispositions (Notes)
Commitments And Contingencies (Notes)
Commitments And Contingencies (Tables)
Commitments And Contingencies Narrative (Details)
Consolidated Debt (Notes)
Consolidated Debt (Tables)
Consolidated Debt Revolving Credit Facility (Details)
Consolidated Debt Virginia Tax-Exempt Bonds (Details)
Derivative Instruments (Notes)
Derivative Instruments (Tables)
Derivative Instruments Narrative (Details)
Derivative Instruments Schedule Of Energy Generation Amounts (Details)
Earnings Per Share ("Eps") And Equity (Notes)
Earnings Per Share ("Eps") And Equity (Tables)
Earnings Per Share ("Eps") And Equity Narrative (Details)
Earnings Per Share ("Eps") And Equity Schedule Of Basic And Diluted Earnings Per Share (Details)
Earnings Per Share ("Eps") And Equity Schedule Of Changes In Accumulated Other Comprehensive Income (Details)
Equity Method Investments (Details)
Equity Method Investments (Notes)
Fair Value Measurements Of Assets And Liabilities (Details)
Financial Information By Business Segments (Notes)
Financial Information By Business Segments - Additional Information (Details)
Financial Instruments (Notes)
Financial Instruments Financial Instruments (Tables)
Income Taxes (Details)
Income Taxes (Notes)
Organization And Basis Of Presentation (Details)
Organization And Basis Of Presentation (Notes)
Organization And Basis Of Presentation (Policies)
Organization And Basis Of Presentation Organization And Basis Of Presentation (Tables)
Recent Accounting Pronouncements (Notes)
Revenues (Details)
Revenues (Notes)
Revenues (Tables)
Revenues Contract Balances (Details)
Schedule Of Consolidated Debt (Details)
Stock-Based Award Plans (Notes)
Stock-Based Award Plans (Tables)
Stock-Based Award Plans Narrative (Details)
Stock-Based Award Plans Schedule Of Compensation Expense Related To Stock-Based Awards (Details)
Stock-Based Award Plans Unrecognized Stock-Based Compensation Expense (Details)
Subsequent Events
Subsequent Events Subsequent Event (Details)
Supplementary Information (Notes)
Supplementary Information Narrative (Details)
Supplementary Information Schedule Of Other Operating Cost And Expense, By Component (Details)
Supplementary Information Schedule Of Pass Through Costs (Details)
Supplementary Information Supplementary Information (Tables)

Material Contracts, Statements, Certifications & more

Covanta Holding Corp provided additional information to their SEC Filing as exhibits

Ticker: CVA
CIK: 225648
Form Type: 10-Q Quarterly Report
Accession Number: 0000225648-18-000115
Submitted to the SEC: Fri Jul 27 2018 4:16:44 PM EST
Accepted by the SEC: Fri Jul 27 2018
Period: Saturday, June 30, 2018
Industry: Cogeneration Services And Small Power Producers

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