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Covanta 4Q18 report +1
16:46 14-Feb-19
Covanta has issued its fourth quarter report:
- EPS of 7 cents misses by 3 cents
- on $500M in revenue, which beats by $26M
- 2019 guidance for $132.5+/-12.5M of FCF is an increase of
32.5% YoY
This looks like a good report for Covanta, but pretty much in-line with expectations for a beneficial environment. In particular, metal prices have soared in the first quarter, particularly since the second Vale dam burst in Brazil. Of course, confirmation of improved Free Cash Flow this year is most important. This article also gives some nice background and shows that the ash processing initiative is not going completely unnoticed.
The conference call is tomorrow at 10am. I may or may not report
again depending on what I hear, and what happens with CVA shares,
which are holding near recent untempting highs so far.