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.”

TAGS: Financials