Covanta Holding (NYSE: CVA) is expected to report Q2 earnings on July 18. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Covanta Holding's revenues will increase 1.6% and EPS will shrink -14.3%.

The average estimate for revenue is $417.5 million. On the bottom line, the average EPS estimate is $0.12.

Revenue details
 Last quarter, Covanta Holding booked revenue of $392.0 million. GAAP reported sales were 4.0% higher than the prior-year quarter's $377.0 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, EPS came in at -$0.09. GAAP EPS were -$0.09 for Q1 against $0.90 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 31.9%, 380 basis points better than the prior-year quarter. Operating margin was 2.8%, 120 basis points better than the prior-year quarter. Net margin was -3.1%, 3,840 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.67 billion. The average EPS estimate is $0.59.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Covanta Holding is outperform, with an average price target of $20.00.

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