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, 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.
CoreCivic, Inc. (NYSE: CXW) announced a settlement regarding the Grae v. Corrections Corporation of America lawsuit, originally filed in 2016. The company will pay $56 million to resolve the case, which was prompted by a decline in stock price following a Department of Justice memo to reduce private prison use. CoreCivic maintains the allegations were baseless but believes settling eliminates ongoing risks and distractions. The settlement requires court approval and contains no admission of wrongdoing by the defendants.
CoreCivic, Inc. (NYSE: CXW) closed a $450 million offering of 8.25% senior unsecured notes due 2026 on April 14, 2021, priced at 99% of face value, yielding 8.50%. Net proceeds of approximately $435.1 million will be used to redeem $250 million of its 5.00% senior notes due 2022 and to repay $128 million of its 4.625% senior notes due 2023. The offering was made under a shelf registration statement and is subject to standard risks. The company aims to enhance its financial position by reducing debt obligations.
CoreCivic, Inc. (CXW) announced an increase in its senior unsecured notes offering to $450 million from the initial $400 million, with a yield to maturity of 8.50%. The net proceeds, estimated at $435.1 million, will primarily be used to redeem $250 million of 5.00% senior notes due 2022 and reduce other debts, including the potential repurchase of 4.625% senior notes due 2023. The offering is conducted under an effective registration statement with the SEC. There are risks associated with the successful completion of this offering.
CoreCivic (NYSE: CXW) plans to issue $400 million in senior unsecured notes due 2026, subject to market conditions. Proceeds will be primarily used to redeem $250 million of its 5.00% senior notes due 2022 and reduce other debt, possibly including a portion of its $350 million in 4.625% senior notes due 2023. This offering is pursuant to an effective shelf registration with the SEC. Forward-looking statements indicate potential risks, including the uncertainty of completing the offering.
CoreCivic, Inc. (NYSE: CXW) has secured a 90-day contract extension with the United States Marshals Service for its Northeast Ohio Correctional Center, effective March 1, 2021. This contract will house approximately 800 federal detainees. However, the USMS does not plan to extend the contract post-extension. President Biden's executive order against renewing contracts with privately operated detention facilities adds uncertainty to CoreCivic's future operations. The company, a leader in government solutions, emphasizes its role in addressing public safety and recidivism issues.
CoreCivic, Inc. (NYSE: CXW) announced the appointment of Dr. Glenda Baskin Glover to its Board of Directors, effective March 1, 2021. This addition expands the Board to twelve members, one-third of whom are women, emphasizing gender diversity. Dr. Glover, President of Tennessee State University, brings extensive expertise in business and education. CoreCivic aims to enhance educational opportunities for individuals in its programs, aligning with Dr. Glover's vision for community engagement. CoreCivic is a leader in providing government solutions, including correctional and rehabilitation services.
CoreCivic, Inc. (CXW) reported its fourth quarter and full year financial results for 2020 on February 10, revealing full-year revenues of $1.91 billion. The company generated net income of $54.2 million for the year and a diluted EPS of $0.45. The fourth-quarter results showed a net loss of $26.8 million, primarily due to special items including $47.6 million in asset impairments. In 2020, CoreCivic focused on debt reduction, repaying over $125 million in long-term debt and anticipating net cash proceeds of $150 million from asset sales.
CoreCivic, Inc. (NYSE: CXW) announced it will release its 2020 fourth-quarter financial results on February 10, 2021, post-market close. A conference call will follow at 10:00 AM CT on February 11, 2021, accessible via the company's website. CoreCivic, the largest owner of partnership correctional and detention facilities in the U.S., emphasizes its role in providing flexible government solutions aimed at addressing public challenges, including corrections and residential reentry.
CoreCivic has appointed Daren Swenson as the first Vice President of Reentry Partnerships and Innovation, aiming to enhance the company’s reentry programming to combat recidivism. Swenson, who previously led CoreCivic Community, will foster partnerships with experts and policymakers to operationalize innovative solutions. His role emphasizes the critical nature of collaboration in addressing the challenges faced by justice-involved individuals. The company, a leader in corrections and reentry services, remains committed to improving outcomes and reducing recidivism through high-quality programming.