Earnings Preview: Covanta Reports Q3 Results Wednesday

| About: Covanta Holding (CVA)
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Covanta Holding Corporation (NYSE:CVA) is due to report earnings after the closing bell on October 19, 2011.

CVA trades an average of 1.7 million shares per day.

Covanta Holding Corporation, through its subsidiaries, provides waste and energy services in the Americas, Europe, and Asia. It owns and operates infrastructure for the conversion of waste to energy. The company was founded in 1960 and is based in Morristown, New Jersey.

52-Week High: $17.78
52-Week Low: $13.25
Book Value: $8.01
Float Short: 5.29%

Analysts are expecting an improvement of $0.11 in earnings per share compared to last quarter's results of $0.14. A beat of $0.25 per share will top the estimated mean earnings. Analyst estimates range between $0.22 and $0.29 per share.

Looking at the price movement over the last month, the stock has fallen in price -6.89%, with a one-year change of -9.80%. Compared to the S&P 500, the year-to-date difference is -12.17%.

For the same fiscal period year-over-year, revenue has improved to $1.58 billion for 2010 vs. $1.38 billion for 2009. The bottom line has falling earnings year-over-year of $61.65 million for 2010 vs. $101.65 million for 2009. The company's earnings before income and taxes are falling, with an EBIT year-over-year of $154.57 million for 2010 vs. $164.00 million for 2009.

paid2trade.com revenue gross bar chart for CVA

Gross reported revenue compared to the mean estimate (rounded).

Fiscal Quarter Ending Month-Year Revenue Estimates Actual $ Difference Difference %
Jun-11 $ 396.36 M $ 411.00 M $ 14.64 M 3.69%
Mar-11 $ 376.06 M $ 377.00 M $ 0.94 M 0.25%
Dec-10 $ 431.05 M $ 419.00 M $ -12.05 M -2.8%
Sep-10 $ 460.32 M $ 436.98 M $ -23.34 M -5.07%
Jun-10 $ 437.67 M $ 435.21 M $ -2.46 M -0.56%
M = millions, B = billions.
Differences are rounded.
Some one-time items are often excluded in reported EPS.

Reported earnings per share compared to the mean estimate. Differences are rounded.

I use a proprietary blend of technical analysis, financial crowd behavior, and fundamentals in my short-term trades, and while not totally the same in longer swing trades to investments, the concepts used are similar. You may want to use this article as a starting point of your own research with your financial planner. I use Seeking Alpha, Edgar Online, and Yahoo Finance for most of my data. I use the confirmed symbols from earnings.com that I believe to be of the most interest.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.