It's not a joke.

Higher economic output translates into more waste, which means more business for waste management companies like Covanta (CVA - Get Report) .

"It's a good time to be a waste company," said Covanta's CEO Stephen Jones.

For the second quarter of 2018, the economy grew over 4%, the highest growth since 2014.

Covanta shares are up 0.75% since the start of the year.