Dive Brief:
- Covanta Holding Corp., a waste-to-energy company, released its financials from the fourth quarter of 2014.
- Revenues for this timeframe increased to $435 million, up from $422 million, or a 3% growth rate compared to same time period in 2013.
- Operating expenses rose for the waste-to-energy firm, up 11% from the year before, coming in at $372 million in the last quarter of 2014.
Dive Insight:
The increase in revenue was attributed to higher waste and service earnings, while the increase in operating expenses was due to higher costs associated with running the facility.
Anthony Orlando, Covanta’s President and CEO said, "We positioned Covanta for long-term growth with a number of strategic wins, most notably commencing construction on the Dublin facility and winning a new contract to operate the Pinellas facility.”