Covanta Holding (NYSE: CVA) is expected to report Q3 earnings on Oct. 17. 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 compress -1.5% and EPS will increase 4.2%.

The average estimate for revenue is $425.4 million. On the bottom line, the average EPS estimate is $0.25.

Revenue details
Last quarter, Covanta Holding booked revenue of $410.0 million. GAAP reported sales were 0.2% lower than the prior-year quarter's $411.0 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, non-GAAP EPS came in at $0.15. GAAP EPS of $0.14 for Q2 were 7.7% higher than the prior-year quarter's $0.13 per share.

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 40.7%, 100 basis points better than the prior-year quarter. Operating margin was 14.1%, 100 basis points worse than the prior-year quarter. Net margin was 4.4%, about the same as the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.65 billion. The average EPS estimate is $0.58.

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 $20.20.

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