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. (CXW) operates as a leading government-solutions provider specializing in corrections management, detention facilities, and residential reentry programs. This page serves as the definitive source for official company announcements and market-moving developments.
Access real-time updates on CoreCivic's operational milestones, including new facility contracts, government partnership expansions, and reentry program enhancements. Investors will find essential updates such as quarterly earnings disclosures, strategic initiatives, and leadership changes that impact the company's position in the public safety sector.
Our curated news collection enables efficient tracking of CoreCivic's role in addressing complex corrections challenges through innovative government solutions. Key updates include contract renewals with federal/state agencies, facility modernization projects, and recidivism reduction efforts through community programs.
Bookmark this page for direct access to CoreCivic's verified press releases and objective news coverage. Regularly updated content ensures stakeholders maintain current awareness of the company's operational landscape and industry developments.
CoreCivic, Inc. (NYSE: CXW) announced a new three-year lease agreement with the State of New Mexico for the Northwest New Mexico Correctional Center, effective November 1, 2021. This agreement allows CoreCivic to maintain facility maintenance responsibilities while transitioning operations to the New Mexico Corrections Department. The lease includes a fixed average annual rent of $3.2 million, with annual escalators. In the first half of 2021, the facility generated $5.3 million in revenue but incurred a net operating loss of $1.3 million.
CoreCivic (NYSE: CXW) announced that its contract with the U.S. Marshals Service for the West Tennessee Detention Facility will expire on September 30, 2021, with all inmates to be transferred out. The company does not anticipate contract renewal and has been marketing the facility to other agencies. In 2020, the facility generated $18.4 million in revenue, but reported a $1.4 million net operating loss. CoreCivic faces risks from changing government policies and economic conditions that could affect its contracts and financial results.
CoreCivic (CXW) reported a total revenue of $464.6 million for Q2 2021, with net income of $15.6 million or $0.13 per diluted share, a decline from $22.2 million in Q2 2020. Adjusted diluted EPS was $0.25, down from $0.33 a year prior. Key highlights include the sale of five non-core properties for $328.7 million and the issuance of $450 million of unsecured senior notes. The company aims to reduce debt leverage, although uncertainties related to COVID-19 and executive orders impact its future financial guidance.
CoreCivic, Inc. (NYSE: CXW) announced it will release its second quarter financial results on August 9, 2021, after market close. A conference call will follow on August 10, 2021, at 10:00 a.m. CDT, accessible via the company's website and by phone. CoreCivic is the largest owner of correctional and detention facilities in the U.S. and provides government solutions aimed at addressing public needs. The company emphasizes its commitment to professionalism and service.
CoreCivic, Inc. (NYSE: CXW) announced its participation in Noble Capital Markets’ Virtual Road Show Series on July 15, 2021, featuring a corporate presentation by CEO Damon Hininger and CFO David Garfinkle, followed by a Q&A session. The live broadcast is set for 3:00 p.m. EDT, with free registration available for all investors. CoreCivic, the largest private owner of government-used real estate in the U.S., provides diverse government solutions aimed at addressing corrections, recidivism, and public safety.
CoreCivic (NYSE: CXW) has successfully completed the sale of three non-core properties for a total of $326 million. The transactions include the SSA Baltimore office building and two additional properties, with the company generating nearly $130 million in net proceeds after repaying $194.4 million in mortgage notes. This aligns with the company’s strategy to strengthen its balance sheet and reduce its debt ratio to between 2.25x and 2.75x. The asset sales exceeded the targeted net proceeds of $150 million announced in August 2020.
CoreCivic (NYSE: CXW) announced a new three-year contract with Mahoning County, Ohio, to utilize up to 990 beds at its Northeast Ohio Correctional Center. This contract, commencing on May 31, 2021, will help address the county's inmate population needs. Currently, the facility also manages approximately 800 inmates for the State of Ohio. CoreCivic has established itself as a significant player in the corrections and detention sector, leveraging its extensive experience and facilities to meet government needs.
CoreCivic, Inc. (NYSE: CXW) reported a net loss of $125.6 million for Q1 2021, equating to a diluted loss per share of $1.05, largely influenced by significant non-recurring charges. Total revenue reached $454.7 million, with CoreCivic Safety contributing $409.8 million. Adjusted diluted EPS was $0.24, down from $0.30 in Q1 2020. The company has transitioned from a REIT to a C-corporation, affecting its tax obligations. Financial guidance for 2021 remains uncertain due to COVID-19 and regulatory changes.
CoreCivic, Inc. (NYSE: CXW) will release its 2021 Q1 financial results post-market on May 5, 2021. A conference call is set for May 6, 2021, at 10:00 a.m. CT, accessible via the company's website and by phone. CoreCivic is recognized as the largest owner of partnership correctional facilities in the U.S. and offers services addressing government challenges through flexible and cost-effective solutions. The company has over 35 years of experience in corrections, detention management, and residential reentry services.
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