Covanta (CVA) Sees Profits Rise

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07:31:17 am on October 23, 2008

Given the current economic situation, Covanta Holding Corp’s 3rd quarter results contained a welcome surprise. The company, which turns municipal waste into renewable energy, saw its earnings increase by 29% to $49.7 million, or 32 cents a share, compared with $38.4 million, or 25 cents a share,  at this time last year. Covanta also saw total operating revenue increase to 439.0 million, a 25% jump. This beats analysts expectations and backs the company’s prediction of earning 90 cents to $1.00 per share. 

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