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

Covanta Holding Corp

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CIK: 922475 Ticker: CVA
Exhibit 99.1
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COVANTA HOLDING CORPORATION REPORTS
2018 THIRD QUARTER RESULTS AND
REAFFIRMS 2018 GUIDANCE

MORRISTOWN, NJ, October 25, 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 nine months ended September 30, 2018.

 
Three Months Ended September 30,
 
2018
 
2017
 
 
 
 
 
(Unaudited, $ in millions, except per share amounts)
Revenue
$456
 
$429
Net (loss) income
$(27)
 
$15
Adjusted EBITDA
$122
 
$117
Net cash provided by operating activities
$84
 
$69
Free Cash Flow before Working Capital
$78
 
$78
Free Cash Flow
$85
 
$68
Diluted EPS
$(0.21)
 
$0.11
Adjusted EPS
$(0.04)
 
$0.12
Reconciliations of non-GAAP measures can be found in the exhibits to this press release.

Key Highlights

•
Reaffirming 2018 guidance, with Adjusted EBITDA expected in the upper end of the range
•
Strong plant operations driving increased 2018 production outlook
•
Acquired highly complementary Palm Beach EfW operations
•
Amended Long Beach contract as part of fleet optimization efforts
•
Refinanced $2 billion in debt to extend maturities and reduce cost

“As we’ve seen all year, consistent operations and a strong waste market drove improved year-over-year results," said Stephen J. Jones, Covanta's President and CEO. “At the same time, we took meaningful steps in optimizing our portfolio through both an acquisition and a contract amendment, while continuing to advance our long-term strategic initiatives.”

More detail on our third quarter results can be found in the exhibits to this release and in our third quarter 2018 earnings presentation found in the Investor Relations section of the Covanta website at www.covanta.com.


The following information was filed by Covanta Holding Corp (CVA) on Thursday, October 25, 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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Definitive Proxy Statement (Form DEF 14A)
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Covanta Holding Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Covanta Holding Corp's 10-Q Quarterly Report:

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 Tax Exempt Bond Refinancing (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 Event (Notes)
Subsequent Event Narrative (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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32: Section 1350 Certification
Ticker: CVA
CIK: 225648
Form Type: 10-Q Quarterly Report
Accession Number: 0000225648-18-000156
Submitted to the SEC: Fri Oct 26 2018 12:16:51 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Cogeneration Services And Small Power Producers

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