WASHINGTON (dpa-AFX) - Covanta Holding Corp. (CVA) reported that its third quarter net income attributable to the company was $26 million or $0.19 per share, compared to $42 million or $0.30 per share in the same quarter last year.
Adjusted earnings for the quarter were $0.25 per share, same as last year. On average, eight analysts polled by Thomson Reuters expected the company to report $0.25 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues dropped to $412 million from $432 million in the comparable quarter last year, while seven analysts had consensus revenue estimate of $423.36 million for the quarter.
The company is narrowing its previously announced guidance for the full year 2012 to a range of $0.55-$0.60. Earlier, the company had expected adjusted earnings in the range of $0.55 to $0.65 per share.
Analysts currently expect the company to report earnings of $0.58 per share for fiscal 2012.
Copyright RTT News/dpa-AFX