Welcome to our dedicated page for Corecivic news (Ticker: CXW), a resource for investors and traders seeking the latest updates and insights on Corecivic stock.
CoreCivic, Inc. reports developments in government corrections, detention, residential reentry and real estate services. The company owns and operates partnership correctional, detention and residential reentry facilities in the United States, manages facilities for government agencies, and leases properties through its Properties segment. Recurring updates cover facility activations and occupancy, contract-related operations with federal and state customers, earnings guidance, and capital allocation.
Company news also includes credit facility changes, share repurchase authorization, executive responsibility for corrections and reentry operations, and complementary acquisitions such as Clinical Solutions Pharmacy, a mail-order pharmacy provider to correctional facilities.
CoreCivic (NYSE: CXW) reported its Q1 2020 financial results with total revenue of $491.1 million, up 1.5%. Net income was $32.1 million or $0.27 per diluted share, down from $49.3 million or $0.41 in Q1 2019. Adjusted diluted EPS was $0.30, reflecting challenges due to COVID-19. As of March 31, 2020, the company had $335.5 million in cash and $146.7 million available under its credit facility. No debt maturities are due until October 2022. The company suspended its financial guidance due to uncertainties from the pandemic.