Covanta's new partnership with Green Investment Group paves a clear path for international growth.
We’re reiterating our fair value estimate of $18 per share as Covanta’s third quarter showed operational progress even as the Fairfax fire-related facility outage muted sales and profitability. Revenue increased 1.9% year over year to $429 million in the quarter, as growth in Covanta’s Environmental Solutions segment, higher waste pricing, and improved metals pricing more than offset volume loss at the Fairfax facility. Although it took much longer than anticipated to ready Fairfax for normal op...Covanta Holding is a holding company. Through its subsidiaries, the company is engaged in the businesses of waste and energy services. The company provides waste and energy solutions through a variety of service offerings, including its main business of owning and operating infrastructure for the conversion of waste to energy (known as energy-from-waste or EfW). EfW facilities produce energy through the combustion of non-hazardous municipal solid waste (MSW) in power plants. Most of the company's facilities are mass-burn facilities, which combust the MSW on an as-received basis without any pre-processing such as shredding, sorting or sizing.
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