Covanta Holding Corporation, a leading global owner and operator of Energy-from-Waste projects, has reported a $38-million loss for its second quarter of 2013 due to a charge regarding the company’s development operations in the UK.
Revenue fell two per cent for the first half to $786 million compared with $802 million. The financial results released July 17, 2013 are for the three-and-six-month periods ended June 30, 2013.
Revenue increased 0.2 percent to $413 million compared with $410 million in 2012, partly because of Covanta’s organic growth initiatives.
- $8 million financial benefit from power purchase agreement (PPA) buyout
- Signed 15 year extension for MacArthur EfW facility service fee contract and completed additional bundled services agreements in New England --
- Achieved 40% year-over-year growth in non-ferrous metal tons recovered
- Strategic shift on UK development; GAAP charges of $49 million
- Reaffirming FY2013 guidance
See Covanta's full financial breakdown here