COVANTA HOLDING CORPORATION REPORTS 2019 SECOND QUARTER RESULTS AND REVISES 2019 ADJUSTED EBITDA GUIDANCE
Full-year outlook for underlying operating results on track, with revision solely related to recent volatility in commodity prices
MORRISTOWN, NJ, July 25, 2019 - 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, 2019.
Three Months Ended June 30,
(Unaudited, $ in millions)
Net cash provided by operating activities
Free Cash Flow
Reconciliations of non-GAAP measures can be found in the exhibits to this press release.
“During the second quarter, our team focused on executing our operating and strategic plans, with solid results,” said Covanta's President and CEO Stephen J. Jones. "Our plants are on track for another year of record production, we capitalized on a strong waste market to drive tip fee prices over 5%, and we advanced towards our goal of having four new plants in construction in the UK. While recent volatility in commodity prices is causing us to revise our 2019 financial guidance, our longer term targets are unchanged as they are not predicated on short-term commodity price movements. Rather, these targets reflect our ability to continue driving underlying organic growth while expanding our business through project development in both new and existing markets."
More detail on our second quarter results can be found in the exhibits to this release and in our second quarter 2019 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, July 25, 2019 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.
View differences made from one quarter to another to evaluate Covanta Holding Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Covanta Holding Corp.
Ticker: CVA CIK: 225648 Form Type:10-Q Quarterly Report Accession Number: 0000225648-19-000108 Submitted to the SEC: Fri Jul 26 2019 12:30:39 PM EST Accepted by the SEC: Fri Jul 26 2019 Period: Sunday, June 30, 2019 Industry: Cogeneration Services And Small Power Producers