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. (NYSE: CXW) is a diversified, government‑solutions company whose news flow is closely tied to its work with public sector partners. Company announcements frequently cover corrections and detention management, residential and non‑residential reentry services, and government real estate solutions, reflecting its role as what it describes as the nation’s largest owner of partnership correctional, detention and residential reentry facilities and one of the largest operators of such facilities in the United States.
On this page, readers can follow news about CoreCivic’s earnings releases, financial guidance updates, and conference call schedules, as the company regularly announces quarterly results and related investor events. Disclosures often include commentary on facility activations, contract awards, and relationships with agencies such as U.S. Immigration and Customs Enforcement (ICE), state departments of corrections, and local government partners.
CoreCivic’s press releases also address capital structure developments, such as amendments to its credit facility and changes to its Board‑authorized share repurchase program. In addition, the company issues news regarding leadership changes, executive appointments, and governance matters, including CEO transitions and updates to executive roles overseeing corrections, detention, and reentry operations.
Investors and observers who track CXW news can use this feed to monitor new contracts for facility capacity, updates on the activation of previously idle facilities, and other developments that the company highlights as relevant to its government partners and stakeholders. Bookmark this page to review CoreCivic’s latest publicly released information as it becomes available through news and regulatory announcements.
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.
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.
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