CoreCivic

CoreCivic, Inc. operates as a government solutions company, which engages in the development and management of prisons and other correctional facilities. It operates through the following segments: Safety, Community, and Properties. The Safety segment consists of correctional and detention facilities. It provides transportation services to government agencies and TransCoR. The Community segment offers residential reentry centers and provides electronic monitoring case management services. The Properties segment consists of real estate properties owned by the company that are leased to government agencies. The company was founded by Thomas W. Beasley, T. Don Hutto, and Robert Crants on January 28, 1983 and is headquartered in Brentwood, TN.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q1 2023

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Earnings data Q3 2023

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Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

CoreCivic reports Q4 revenue decline but shows resilience and growth opportunities

CoreCivic's Q4 performance reflects revenue decline due to contract non-renewals but shows resilience with operational improvements and debt reduction.
The company's focus on financial discipline, debt reduction, and operational efficiency positions it for growth despite challenges in ICE contracts and staffing adjustments.
Opportunities lie in revenue diversification through dual contract models, potential positive impacts from ICE contract renegotiations, and stable Marshals service occupancy.
Guidance for 2023 indicates a strategic approach to addressing challenges while capitalizing on opportunities for revenue growth and operational efficiency.

CoreCivic reports steady Q1 growth amidst forecasted challenges

CoreCivic's Q1 2023 performance showed resilience with revenue growth despite challenges.
The company is strategically positioned to capitalize on increased demand from ICE and state partners.
While facing forecasted declines, CoreCivic is actively managing debt reduction and operational efficiency.
Ongoing focus on cost management and maintaining a strong balance sheet for future growth opportunities.

CoreCivic reports solid Q2 earnings, eyes growth amid challenges

CoreCivic's Q2 performance reflects financial strength and strategic focus on debt reduction and growth opportunities.
While facing challenges like contract monitoring and uncertainty, the company is well-positioned for revenue growth.
Opportunities in renegotiated contracts, increased demand for detention capacity, and stable Marshals populations drive future potential.
Financial flexibility, strong operational performance, and potential revenue growth highlight CoreCivic's resilience and strategic positioning.

CoreCivic reports revenue growth and pursues new opportunities strategically

CoreCivic's Q3 2023 performance showed revenue growth, improved occupancy, and a focus on debt reduction and capital allocation strategies.
The company faces challenges in timeline uncertainty for new opportunities and returning to pre-pandemic margins, amidst ongoing financial management efforts.
Opportunities lie in potential new contracts, asset divestitures, and capital allocation strategies aimed at enhancing shareholder value.
Overall, CoreCivic's performance reflects a mix of strengths, challenges, and opportunities in navigating its operational landscape.

CoreCivic reports revenue growth and new contracts amidst challenges

CoreCivic's Q4 2023 showed revenue growth, increased occupancy, and new contracts.
The company focuses on debt reduction, share repurchases, and maintaining stability.
Challenges include infrastructure demands, court backlogs, and ICE funding impacts.
Opportunities lie in margin improvement, rate increases, and exploring detention alternatives.

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CoreCivic, Inc., which offers corrections and detention management services, has seen a significant decline in its shares over the past five years, attributed to political interference and declining margins. The company's dependence on government contracts exposes it to risks such as policy changes, as seen with President Biden's executive order not renewing contracts with privately operated criminal detention facilities. It has implemented measures to improve shareholder returns, including debt servicing and share repurchases. The company has reduced debt by over $1.1 billion and repurchased 9.1 million shares.

CoreCivic: A Risk Bound Investment

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Prison stocks are the talk of Wall Street today following the expiration of the highly controversial Title 42 program. Indeed, companies like CoreCivic (NYSE: CXW ) and GEO Group (NYSE: GEO ) are in the green today in anticipation of the lifting of the former President Donald Trump-era border policy.

Prison Stocks CXW, GEO Are on Watch as Title 42 Expires

CoreCivic, Inc. (NYSE:CXW ) Q1 2023 Earnings Conference Call May 4, 2023 11:00 AM ET Company Participants Cameron Hopewell - Managing Director, Investor Relations Damon Hininger - President and Chief Executive Officer David Garfinkle - Chief Financial Officer Conference Call Participants Joe Gomes - NOBLE Capital Jay McCanless - Wedbush Kirk Ludtke - Imperial Capital M. Marin - Zacks Jordan Sherman - Ranger Global Real Estate Advisors Ben Briggs - StoneX Financial Operator Good day and thank you for standing by.

CoreCivic, Inc. (CXW) Q1 2023 Earnings Call Transcript

BRENTWOOD, Tenn., May 03, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the first quarter of 2023.

CoreCivic Reports First Quarter 2023 Financial Results

CoreCivic's latest earnings report shows that the company's financials are beginning to stabilize. Management has done a good job reducing debt and shoring up the company's balance sheet.

CoreCivic: Shifting Away From The Bonds And To The Shares

CoreCivic, Inc. is a $1.3-billion market cap top-notch company in the government real estate and corrections fields, providing management of prisons, jails, and immigration detention centers. The catalyst in the form of the termination of Title 42 combined with the depressed valuation multiples, provides a comfortable margin of safety for medium-term investors.

CoreCivic: Great Opportunity To Go Long Here

CoreCivic, Inc. (NYSE:CXW ) Q4 2022 Results Conference Call February 9, 2023 11:00 AM ET Company Participants Cameron Hopewell - Managing Director, Investor Relations Damon Hininger - President and Chief Executive Officer David Garfinkle - Chief Financial Officer Brian Hammonds - Vice President, Finance Conference Call Participants Joe Gomes - NOBLE Capital Markets M. Marin - Zacks Jay McCanless - Wedbush Ben Briggs - StoneX Financial Operator Good morning.

CoreCivic, Inc. (CXW) Q4 2022 Earnings Call Transcript

Provides 2023 Full Year Guidance Provides 2023 Full Year Guidance

CoreCivic Reports Fourth Quarter and Full Year 2022 Financial Results

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BRENTWOOD, Tenn., Jan. 24, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2022 fourth quarter financial results after the market closes on Wednesday, February 8, 2023. A live broadcast of CoreCivic's conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, February 9, 2023.

CoreCivic Announces 2022 Fourth Quarter Earnings Release and Conference Call Dates

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CoreCivic and Geo Group Fall as Supreme Court Leaves Pandemic-Era Border Controls in Place

BRENTWOOD, Tenn., Dec. 22, 2022 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today that it is delivering an irrevocable notice to the holders of all of the Company's previously issued $350,000,000 original aggregate principal amount of 4.625% Senior Notes due 2023 (2023 Notes) that the Company has elected to redeem in full the 2023 Notes that remain outstanding on February 1, 2023 (Redemption Date). The 2023 Notes were otherwise scheduled to mature on May 1, 2023. The 2023 Notes will be redeemed at a redemption price equal to 100% of the principal amount of the then outstanding 2023 Notes, plus accrued and unpaid interest on such 2023 Notes to, but not including, the Redemption Date (Redemption Price). As of December 21, 2022, the principal amount of the outstanding 2023 Notes was $153.9 million. The Company intends to use a combination of cash on hand and available capacity under its revolving credit facility to fund the Redemption Price.

CoreCivic to Redeem 4.625% Senior Notes Due 2023

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BRENTWOOD, Tenn., Dec. 06, 2022 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today it received notice from the California Department of Corrections and Rehabilitation (CDCR) of its intent to terminate the lease agreement for the company-owned, 2,560-bed California City Correctional Center (CCCC) by March 31, 2024, due to the state's declining inmate population.

CoreCivic Receives Lease Termination Notice for the California City Correctional Center from the State of California

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Scion Asset Management, the firm founded by Michael Burry, disclosed in a regulatory filing that it boosted its stake in The GEO Group Inc. ( GEO , Financial) and established five new positions during the third quarter: Qurate Retail Inc. ( QRTEA , Financial), CoreCivic Inc. ( CXW , Financial), Aerojet Rocketdyne Holdings Inc. ( AJRD , Financial), Charter Communications Inc. ( CHTR , Financial) and Liberty Latin America Ltd. ( LILAK , Financial).

Michael Burry's Firm Enters 5 New Positions in 3rd Quarter

Michael Burry — the notorious hedge fund manager who bet against the housing market before the 2008 financial crisis — is eyeing a new investment lately: prison stocks. Indeed, the investor of The Big Short fame is apparently fixated on the prison industry, which makes up more than half of his current portfolio according to a recent 13F filing with the U.S. Securities and Exchange Commission (SEC).

Why Michael Burry Is Betting Big on Prison Stocks GEO, CXW

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Michael Burry of ‘Big Short' Fame Is Buying Stocks Again —Including Another Prison Company

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Michael Burry Doubles Down on Prison Stocks With CoreCivic (CXW) Bet

Scion Asset Management's Michael Burry, known for his timely bets against housing ahead of the 2008 financial crisis, added five new companies to his portfolio in the last quarter including prison operator CoreCivic , filings released on Monday showed.

'Big Short' fund manager Burry buys another prison stock

Burry's new bets on the likes of Qurate Retail and Charter Communications lifted the value of his portfolio from about $3 million to over $41 million.

'Big Short' investor Michael Burry reveals 5 stocks he bought last quarter - after slashing his portfolio to a single holding

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CoreCivic, Inc. (NYSE:CXW ) Q3 2022 Earnings Conference Call November 3, 2022 11:00 AM ET Company Participants Cameron Hopewell - Managing Director, Investor Relations Damon Hininger - President and Chief Executive Officer David Garfinkle - Chief Financial Officer Brian Hammonds - Vice President, Finance Conference Call Participants Joe Gomes - NOBLE Capital M. Marin - Zacks Kirk Ludtke - Imperial Capital Brian Violino - Wedbush Securities Operator Good morning.

CoreCivic, Inc. (CXW) Q3 2022 Earnings Call Transcript

Raises Full Year Guidance Raises Full Year Guidance

CoreCivic Reports Third Quarter 2022 Financial Results

BRENTWOOD, Tenn. , Oct. 26, 2022 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2022 third quarter financial results after the market closes on Wednesday, November 2, 2022. A live broadcast of CoreCivic's conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, November 3, 2022.

News for CoreCivic Stock (CXW)