How's the waste and recycling industry faring these days?
Covanta CEO Stephen Jones joined TheStreet's Katherine Ross to give an update on the business as the coronavirus pandemic has forced most of America to stay inside for the past few months.
Watch the video above to see what Jones had to say.
Katherine Ross: How is the waste and recycling industry doing in the wake of the coronavirus pandemic? Is it one of the few industries that are truly recession-proof? Well, joining me today is Stephen Jones CEO of Covanta. Let's start with, how is your business doing during this pandemic?
Stephen Jones: Well, it's interesting Katherine, in the first quarter, we did quite well. Our earnings before interest, taxes, depreciation, and amortization was up about $13 million from last year. And then as we saw kind of first full week in April, the middle of April, things started to deteriorate a little bit, but not nearly as much as some other industries that are out there. The waste industry tends to be pretty resilient and stable. And we've looked at that pretty closely since then. Commercial, industrial waste volumes are down. Residential waste volumes are up.
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