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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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 is significantly undervalued given that private prison companies have the ability to generate strong cash flows.

CoreCivic: Do Not Be So Quick To Underestimate Its Potential As A Company

BRENTWOOD, Tenn., April 23, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 first quarter financial results after the market closes on Wednesday, May 5, 2021.

CoreCivic Announces 2021 First Quarter Earnings Release and Conference Call Dates

BRENTWOOD, Tenn., April 16, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (“CoreCivic”) announced today that it has reached an agreement in principle to settle a purported securities class action lawsuit filed on August 23, 2016, against CoreCivic and certain of its current and former officers in the United States District Court for the Middle District of Tennessee, captioned Grae v. Corrections Corporation of America et al.. The lawsuit was filed after the company's stock price declined following issuance of an August 18, 2016 memorandum from the Department of Justice instructing the Federal Bureau of Prisons (“BOP”) to reduce and ultimately end the use of privately operated prisons.

CoreCivic Announces Agreement In Principle to Settle Shareholder Litigation

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the “Company") closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

CoreCivic Announces Closing of $450 Million 8.25% Senior Notes Due 2026

BRENTWOOD, Tenn., April 07, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the “Company") announced today that it successfully upsized and priced its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”). The aggregate principal amount of the Notes to be issued in the offering was increased to $450 million from the previously announced $400 million. The Notes were priced at 99.0% of face value and thus will have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the underwriting discounts and estimated offering expenses. CoreCivic intends to use a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which may include repurchasing or redeeming a portion of its $350 million principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). CoreCivic may use any remaining proceeds for general corporate purposes. There can be no assurance that the offering of the Notes, the redemption of the 2022 Senior Notes, or any other debt reduction will be consummated.

CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

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Why CoreCivic Stock Fell 10% at the Open Today

BRENTWOOD, Tenn., April 07, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the “Company") announced today that it intends to offer $400,000,000 aggregate principal amount of senior unsecured notes due 2026 (the “Notes”), subject to market and other customary conditions. The Notes will be senior unsecured obligations of CoreCivic and will be guaranteed on a senior unsecured basis by all of CoreCivic's subsidiaries that guarantee its senior secured credit facilities and its other indebtedness. CoreCivic intends to use a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which may include repurchasing or redeeming a portion of its $350 million principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). CoreCivic may use any remaining proceeds for general corporate purposes. There can be no assurance that the offering of the Notes, the redemption of the 2022 Senior Notes, or any other debt reduction will be consummated.

CoreCivic Announces Proposed $400 Million Senior Notes Offering

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CoreCivic: Compelling Deep Value Play With 100% Upside

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The prison operator announced some bad news, but the real problem is the longer-term trend at which it hints.

Why CoreCivic Stock Tanked as Much as 13% Today

BRENTWOOD, Tenn., Feb. 25, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that, effective March 1, 2021, it has entered into a 90-day contract extension with the United States Marshals Service ("USMS") at the Company's 2,016-bed Northeast Ohio Correctional Center. The USMS has notified the Company that it does not anticipate extending the contract following the 90-day extension.

CoreCivic Expects the Contract with the United States Marshals Service at the Northeast Ohio Correctional Center Will Not be Renewed

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Michael Burry Goes on a Buying Spree in 4th Quarter

BRENTWOOD, Tenn., Feb. 18, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that, effective March 1, 2021, Dr. Glenda Baskin Glover will be appointed as a member of the Company's Board of Directors, expanding the size of the Board from eleven to twelve directors, ten of whom are independent, and expanding the number of board seats held by women to one-third. Dr. Glover is President of Tennessee State University, Nashville's only public university, and a premier, historically black college and university (HBCU).

CoreCivic Appoints Dr. Glenda Glover to Board of Directors

CoreCivic, Inc. (CXW) CEO Damon Hininger on Q4 2020 Results - Earnings Call Transcript

BRENTWOOD, Tenn., Feb. 10, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE:  CXW) (the Company) announced today its financial results for the fourth quarter and full year 2020.

CoreCivic Reports Fourth Quarter and Full Year 2020 Financial Results

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To top it all off, this change will take years to play out. Investors may be overestimating the damage Biden's EO will do for prison stocks.

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The news out of Washington D.C. was bad but perhaps not as bad as some investors feared.

Why CoreCivic and the GEO Group Both Rallied Over 10% Today

CXW trades at a multiple under 4X making it among the cheapest REITs. The low market price is related to perceived political risk.

CoreCivic: Controversial, But Strong Cash Flows

The GEO Group (NYSE: GEO) and CoreCivic (NYSE: CXW) shares are trading lower on Tuesday after President Joe Biden signed four executive orders including prison reform. Biden directed the Attorney General to not renew any of the Justice Department's contracts with private prisons.

Why GEO Group And CoreCivic Are Trading Lower Today

Daren Swenson will serve as Vice President, Reentry Partnerships and Innovation Daren Swenson will serve as Vice President, Reentry Partnerships and Innovation

CoreCivic Establishes New Reentry-Focused Leadership Role

NASHVILLE, Tenn., Jan. 15, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the “Company") announced today the tax allocations of its 2020 dividend distributions.

CoreCivic Provides Tax Allocations of 2020 Dividend Distributions

NASHVILLE, Tenn. , Jan. 14, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the “Company") announced today that its President and Chief Executive Officer, Damon Hininger, and Chief Financial Officer, David Garfinkle, will present at NobleCon17 – Noble Capital Markets' Seventeenth Annual Investor Conference on Wednesday, January 20, 2021, at 4:30 p.m. Eastern Standard Time. The conference is virtual, with no cost, obligation or restrictions to attend: www.noblecon17.com.

CoreCivic to Present at Noble Capital Markets' Seventeenth Annual Investor Conference

News for CoreCivic Stock (CXW)