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Covanta 1Q19 and Brexit schedules ?3

19:01 10-Apr-19


Covanta has scheduled it first quarter report to be given after the bell on April 25th.  On average, analysts expect the company to lose 18 cents per share in this seasonally weak quarter, on $457M in revenue.  That figure should improve to $470M this quarter.

CVA shares have rebounded off their post-earnings slide even more than expected, and I've already labeled them as somewhat overvalued.  One possible explanation is soaring energy and metal prices, but I would still see that response as overdone unless some new partnership emerges, which would be a surprise this early in the company's development.  Furthermore, I was waiting on word regarding Brexit to send this out.  The latest is that the E.U. is settling on an extension to Oct. 31.  That will likely have a delaying impact on such a deal, as well as being a drag on many of the other stocks I cover, even though this is more or less what the market has come to expect.