Covanta Reports Second-Quarter Gains

Covanta Holding Corp., Fairfield, N.J., reports a net income of $44.9 million on revenues of $243 million for second-quarter 2008, both increases from a net income of $37.7 million on revenues of $218 million for the same quarter in 2007.

For the year, the firm reports a net income of $59.6 million on revenues of $460 million, which also are increases from a net income of $19.8 million on revenues of $417 million for the first half of 2007.

“We turned in a good second quarter and anticipate delivering strong full-year results near the high end of our published guidance ranges,” said Anthony Orlando, president and CEO of Covanta, in a press release. “I'm also optimistic about our long-term prospects. We are effectively managing contract transitions and capitalizing on global growth opportunities, which are being presented with increasing frequency in light of the sharp rise in energy prices.”