Allan Gerlat, News Editor

February 9, 2012

1 Min Read
Covanta Achieves Stronger Net Income for Quarter, Year

Higher waste and recycling volume and pricing helped Covanta Holding Corp.  achieve higher net income for its fourth quarter and year.

Net income from continuing operations for the Morristown, N.J.-based Covanta increased 27 percent to $80 million for the quarter ended Dec. 31, compared with $63 million in the year-ago period. Revenue advanced 3 percent to $430 million from $419 million in the 2010 period, the company said in a news release.

For the year, operating income jumped 41 percent to $218 million compared with $155 million in 2010. Revenue rose 4 percent to $1.65 billion compared with $1.58 billion a year earlier.

The company said the results for 2010 were aided by higher recycled metal revenues, service fee contract escalations, higher waste volumes and operational improvements. The net income increase was partially offset by lower debt service pass-through revenue, lower operating income at Covanta’s biomass facilities and lower energy pricing.

Fourth-quarter results were also helped by higher tip-fee volume and increased construction revenue.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

Stay in the Know - Subscribe to Our Newsletters
Join a network of more than 90,000 waste and recycling industry professionals. Get the latest news and insights straight to your inbox. Free.

You May Also Like