Corecivic Stock Price, News & Analysis

CoreCivic, Inc. (NYSE: CXW) will release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call will occur on May 5, 2022, at 10:00 AM CT, available via the company’s website or by phone. CoreCivic specializes in diversified government solutions, providing corrections and detention management, alongside residential alternatives to incarceration, aiming to combat recidivism. The company is the largest owner of correctional facilities and government-used real estate in the U.S.

CoreCivic (CXW) reported its financial results for Q4 and full year 2021, with a total revenue of $1.86 billion. The company faced a net loss of $51.9 million, largely due to $178.6 million in special items. For Q4, revenues reached $472.1 million, with a net income of $28.0 million, improving from a net loss in Q4 2020. Adjusted diluted EPS for the quarter was $0.27. CoreCivic announced a new contract with Arizona for up to 2,706 inmates, estimated to generate $75 million to $85 million annually. Guidance for 2022 indicates EPS between $0.72 - $0.86 and FFO per share of $1.55 - $1.70.

CoreCivic, Inc. (NYSE: CXW) will announce its 2021 fourth quarter financial results on February 9, 2022, after market close.

A live conference call is scheduled for February 10, 2022, at 10:00 a.m. CT, accessible via the company’s website or by phone at 877-614-0009.

CoreCivic is a leading provider of government solutions, specializing in corrections and detention management, with over 35 years of experience serving government partners.

CoreCivic, Inc. (NYSE: CXW) has secured a new five-year contract with the State of Arizona to manage up to 2,706 adult male inmates at the La Palma Correctional Center. This contract, expected to yield $75 million to $85 million in annual revenue, marks the most significant prison contract awarded to the private sector in over a decade. The company plans to transition detainees currently in the facility to accommodate state inmates as part of a ramp plan set to begin in early 2022.

CoreCivic, Inc. (NYSE: CXW) reported its third quarter 2021 financial results, achieving total revenue of $471.2 million, up from $431.5 million in Q3 2020. The company generated diluted EPS of $0.25 and adjusted diluted EPS of $0.28. CoreCivic's leverage improved to 2.7x following a debt repayment of $187.5 million during the quarter. The firm also issued $225 million in unsecured senior notes at favorable terms. Despite strong performance, CoreCivic did not provide 2021 financial guidance due to ongoing uncertainties related to COVID-19 and various governmental policies.

CoreCivic announced the passing of co-founder Terrell Don Hutto, expressing deep sadness over his loss. Hutto, a significant figure in correctional management, co-founded the company in 1983 and served as its first Chief Operating Officer and later as Vice Chairman. He was known for his expertise in correctional systems and was instrumental in developing national standards in the field. CoreCivic's President and fellow co-founder praised Hutto for his leadership and contributions, emphasizing his commitment to best practices and the public good. The company continues to provide government solutions through correctional and reentry services.

CoreCivic, Inc. (NYSE: CXW) has announced it will release its 2021 third quarter financial results after the market closes on November 8, 2021. A live conference call to discuss these results will take place on November 9, 2021, at 10:00 a.m. CT. This call can be accessed via the Company’s website or by dialing 800-437-2398 in the U.S. and Canada. CoreCivic offers government solutions including corrections and detention management, and it is the largest owner of such facilities in the U.S.

CoreCivic, Inc. (NYSE: CXW) has successfully upsized its offering of 8.25% senior unsecured notes due 2026, raising the amount to $225 million from $100 million. The notes were priced at 102.25% of their principal, yielding 7.65% to maturity. The net proceeds of approximately $225.5 million will be used for general corporate purposes, including repaying existing senior notes and revolving credit facility amounts. The offering is subject to market conditions and regulatory approvals.

CoreCivic, Inc. (NYSE: CXW) announced plans to offer an additional $100 million of its 8.25% senior unsecured notes due 2026. The total amount of these notes, including existing notes, will reach $550 million. Proceeds will be utilized for general corporate purposes, potentially including repurchasing existing senior notes and debt repayment. The offering is subject to market conditions and not guaranteed to proceed. Imperial Capital leads the underwriting team, and the details are filed with the SEC.