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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 (CXW) reported its Q2 2022 financial results, showing total revenue of $456.7 million, net income of $10.6 million, and diluted EPS of $0.09. The company announced a significant asset sale of its 1,978-bed McRae Correctional Facility for $130 million, expected to generate a gain of $75 million to $80 million by Q3 2022. Additionally, CoreCivic increased its share buyback program to $225 million. However, earnings were impacted by a transition of populations at the La Palma Correctional Center and contract non-renewals, leading to a decline in adjusted diluted EPS from $0.25 in Q2 2021 to $0.13 in Q2 2022.
CoreCivic, Inc. (NYSE: CXW) will release its 2022 second quarter financial results on August 2, 2022, after market close. A live conference call will take place on August 3, 2022, at 10:00 a.m. CT, accessible through the company's website and via telephone. This call is part of CoreCivic's ongoing communication strategy with investors and stakeholders, allowing them to review the company's financial performance and strategic initiatives. CoreCivic emphasizes its role as a key partner to government agencies in providing correctional and detention management solutions.
CoreCivic, Inc. (CXW) reported Q1 2022 earnings showcasing total revenue of $453.0 million, consisting of $414.2 million from CoreCivic Safety, $24.1 million from Community, and $14.6 million from Properties. The company netted $19.0 million with a diluted EPS of $0.16, a rebound from a net loss of $125.6 million YoY. Adjusted EBITDA fell to $80.8 million, down from $96.3 million in Q1 2021 due to contract non-renewals and property sales affecting operations. 2022 guidance was adjusted for higher labor costs and uncertainties from Title 42.
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.