Covanta Holding (NYSE: CVA ) reported earnings on Feb. 6. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Covanta Holding beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue didn't move and GAAP earnings per share expanded significantly.
Gross margins contracted, operating margins grew, net margins grew.
Covanta Holding reported revenue of $430.0 million. The 10 analysts polled by S&P Capital IQ expected to see revenue of $410.5 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.20. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.23 per share. GAAP EPS of $0.62 for Q4 were 226% higher than the prior-year quarter's $0.19 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 47.0%, 210 basis points worse than the prior-year quarter. Operating margin was 27.2%, 950 basis points better than the prior-year quarter. Net margin was 19.1%, 1,310 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $394.5 million. On the bottom line, the average EPS estimate is -$0.08.
Next year's average estimate for revenue is $1.67 billion. The average EPS estimate is $0.63.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Covanta Holding is outperform, with an average price target of $21.27.
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