Corecivic Stock Price, News & Analysis

CoreCivic (NYSE:CXW) has secured a new 5-year contract with ICE through an Intergovernmental Services Agreement with the Oklahoma Department of Corrections to reactivate its 2,160-bed Diamondback Correctional Facility. The facility, idle since 2010, is expected to generate approximately $100 million in annual revenue once fully operational.

The contract, starting September 30, 2025, includes a fixed monthly payment plus per diem based on detainee populations. CoreCivic plans to invest $13 million in renovations and expects to begin receiving detainees in Q1 2026, with full activation by Q2 2026. This agreement is part of broader expansion efforts, with the company signing contracts for 6,353 total beds across four facilities in Q3 2025, projected to generate $325 million in annual revenue.

CoreCivic (NYSE: CXW) has secured two significant contracts with U.S. Immigration and Customs Enforcement (ICE) totaling 3,593 beds across two facilities. The first contract involves the 2,560-bed California City Immigration Processing Center, operational since August 2025, with expected annual revenue of $130 million. The second contract covers the 1,033-bed Midwest Regional Reception Center in Leavenworth, Kansas, with projected annual revenue of $60 million, though currently facing legal challenges.

Once fully activated, these facilities are expected to generate combined annual revenue of nearly $200 million. The California City facility is anticipated to reach normalized operations by Q2 2026, while the Midwest facility's timeline depends on resolving ongoing legal challenges.

CoreCivic (NYSE:CXW) has announced a significant leadership transition, with Patrick D. Swindle appointed as President and Chief Executive Officer, effective January 1, 2026. Swindle, who currently serves as President and COO, will succeed Damon T. Hininger, who has been CEO since 2009.

Swindle brings over 18 years of industry experience at CoreCivic, having served in various leadership positions since 2007. His track record includes enhancing strategic development initiatives, transforming operations, and leading facility activations. Hininger will serve as Special Advisor to both the CEO and Board Chairman during the transition period and will step down from CoreCivic's Board, with Swindle filling the vacancy.

CoreCivic (NYSE:CXW) has secured a new contract to restart operations at its 600-bed West Tennessee Detention Facility through an intergovernmental services agreement between the City of Mason and ICE. The facility, idle since September 2021, is expected to generate annual revenue of $30-35 million once fully operational.

The contract extends through August 2030 with potential extensions and includes a fixed monthly payment plus per diem based on detainee populations. The facility reactivation is projected to create over 200 local jobs and marks CoreCivic's fourth facility reactivation, providing ICE with over 7,600 total beds through various contract modifications.

CoreCivic (NYSE:CXW) reported strong Q2 2025 financial results, with total revenue increasing 9.8% to $538.2 million and net income surging 103.4% to $38.5 million. The company's performance was driven by increased demand from U.S. Immigration and Customs Enforcement (ICE), with nationwide detention populations reaching all-time highs.

Key highlights include diluted EPS of $0.35 (up 105.9%), adjusted EBITDA of $103.3 million (up 23.2%), and the repurchase of 2.0 million shares for $43.2 million. The company completed the $67 million acquisition of the Farmville Detention Center and raised its full-year 2025 guidance, projecting net income between $116.4-$124.4 million.

CoreCivic's average daily population increased to 54,026 with 76.8% occupancy across Safety and Community segments, and is actively re-activating previously idled facilities to meet growing demand.

CoreCivic (NYSE:CXW) has scheduled its 2025 second quarter earnings release for Wednesday, August 6, 2025, after market close. The company will host a conference call to discuss the results on Thursday, August 7, 2025, at 10:00 a.m. central time.

Participants can join the call by pre-registering through the provided link to receive dial-in details. Additionally, an audio webcast will be available on CoreCivic's website, with a replay accessible for seven days following the call.

CoreCivic (NYSE: CXW) has announced a definitive agreement to acquire the Farmville Detention Center in Virginia for $67.0 million. The 736-bed facility, built in 2010, provides civil detention services to adult male noncitizens through an ICE agreement valid until March 2029. The acquisition is expected to close on July 1, 2025, funded through cash and credit facilities. The deal is projected to generate approximately $40.0 million in annual incremental revenue. The transaction includes acquiring 100% membership interests in entities owning the facility and will add over 200 employees to CoreCivic's workforce.

CoreCivic (NYSE: CXW) reported strong Q1 2025 financial results with total revenue of $488.6 million and net income of $25.1 million. The company's occupancy reached 77.0%, up from 75.2% in Q1 2024. Key financial metrics include diluted EPS of $0.23 and EBITDA of $81.0 million. The company repurchased 1.9 million shares for $37.9 million. CoreCivic is reactivating three previously idle facilities under ICE agreements: the 2,400-bed Dilley Immigration Processing Center, the 1,033-bed Midwest Regional Reception Center, and the 2,560-bed California City Immigration Processing Center. Based on strong Q1 performance and activation activities, CoreCivic raised its 2025 guidance, now projecting net income of $91.3-101.3 million and EBITDA of $331.0-339.0 million.

CoreCivic (NYSE: CXW) has scheduled its 2025 first quarter earnings release and conference call. The company will release its financial results after market close on Wednesday, May 7, 2025. A live conference call will be held the following day, Thursday, May 8, 2025, at 10:00 a.m. central time (11:00 a.m. eastern time).

Interested participants can register in advance for the telephone conference through the provided registration link. The audio webcast will be accessible through CoreCivic's website under the 'Events & Presentations' section, with a replay available for seven days following the call.