Tag Archives: Covanta

Waste To Energy Giant Covanta (CVA) Misses & Issues Weak Guidance

Covanta Holding (CVA), the waste to energy giant, reported less than stellar results after the bell today missing analyst estimates across the board.  The company reported an EPS of .18/share which missed analyst views of .23/share, but was a 20% improvement over the year ago quarter.  Revenues missed as well at $407 million ($20 million shy of analyst estimates) and were off 2% from the year ago quarter.  All in all, not an awful quarter … Read the rest

Covanta (CVA) Completes Acquisition Of Veolia’s Energy-From-Waste Business

Covanta Holding Corporation just announced that it has finished acquiring a 3,000 ton per day energy-from-waste operating contract in Miami-Dade County, FL. This is the final stage of Covanta’s acquisition of Veolia’s North American energy-from-waste business, which was announced previously.

Including the Miami-Date contract, Covanta acquired 6 EfW long-term operating contracts plus an EfW facility and transfer station in Pennsylvania. Covanta paid $450 million for the businesses and they are expected to contribute $60 million … Read the rest

Covanta (CVA) Begins Construction Of Dublin Energy-From-Waste Facility, May Be Considering Purchasing Shanks

Covanta just announced that it has started production on a energy-from-waste facility located in Dublin, Ireland. The facility, which is being built as a Public Private Partnership between Dublin City Council and Dublin Waste to Energy Limited (owned by Covanta), will have the capacity to process 600,000 tons of waste per year, creating enough energy to power 60,000 homes.

The estimated time to complete the facility is 3 three years. Covanta subsidiaries are responsible for … Read the rest

Covanta (CVA) Completes Stage One In Acquiring Veolia’s North American EfW Business

Covanta just announced that it has finished the first stage of its acquisition of Veolia’s North American energy-from-waste business. The 7 facilities involved in this stage include one in California, 2 in New York, 3 in Pennsylvania, and one in Canada. Each of the facilities acquired comes with a long-term contract for the energy produced with the associated municipal client.

Covanta expects to complete the acquisition this year by acquiring Veola’s operating contract for a … Read the rest

Covanta (CVA) Will Purchase Energy-to-Waste Facilities From Veolia Environmental

Covanta Holdings Corp just announced the purchase of 7 energy-from-waste facilities from Veolia Environmental. Covanta is paying $450 million in cash for the 7 facilities, which are expected to generate $60 million in operating cash flow for the company next year in 2010.

In a story posted on Reuters, the company released the following statement about the purchase:

“Each of the seven EfW businesses to be acquired includes a long-term operating contract with the … Read the rest

WSJ: Waste To Energy – Covanta (CVA)

There’s an article over at the WSJ discussing waste to energy solutions, mentioning a study that shows incinerating a ton of trash emits at least 35% less greenhouse gas and yields 10x as much electricity as burying it and capturing the methane.  Covanta (CVA), which is the world’s largest owner of waste to energy plants is highlighted in the article and the company stands to see a big pop in the stock if the … Read the rest

Covanta (CVA) Purchases 2 Biomass Facilities in Maine

Covanta Holding (CVA) has closed on the acquisition of 2 biomass energy facilities in Maine for $52 million.  The purchase increases the number of Covanta biomass facilities to 8 and increases the energy output by 35%.  The facilities are wood waste facilities and convert woodchips, sawdust, bark, tree trimmings, agricultural waste and wood recovered from construction sites into energy.

“We are very pleased to have completed this acquisition,” said Anthony Orlando, President and Chief Executive … Read the rest

Covanta (CVA) Sees Profits Rise

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 … Read the rest