Covanta Holding Corporation Q4 Profit Drops 86%

(RTTNews) - Covanta Holding Corporation (CVA) released earnings for fourth quarter that lost ground compared to the same period last year.

The company said its earnings dropped to $11 million, or $0.08 per share. This was down from $77 million, or $0.58 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.13 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 5.8% to $457 million. This was up from $432 million last year.

Covanta Holding Corporation earnings at a glance:

-Earnings (Q4): $11 Mln. vs. $77 Mln. last year. -Earnings Decline (Y-o-Y): -85.7% -EPS (Q4): $0.08 vs. $0.58 last year. -EPS Decline (Y-o-Y): -86.2% -Analysts Estimate: $0.13 -Revenue (Q4): $457 Mln vs. $432 Mln last year. -Revenue Change (Y-o-Y): 5.8%