Financial Performance - Total revenue for Q4 2024 was $479.3 million, with a full year revenue of $2.0 billion[4] - Net income for Q4 2024 was $19.3 million, or $0.17 per diluted share, compared to $26.5 million, or $0.23 per diluted share in Q4 2023[7] - Adjusted EBITDA for Q4 2024 was $74.2 million, down from $90.0 million in Q4 2023, primarily due to contract terminations[12] - Total revenue for Q4 2024 was $479.3 million, a decrease of 2.5% compared to $491.2 million in Q4 2023[32] - Net income for Q4 2024 was $19.3 million, down from $26.5 million in Q4 2023, representing a decline of 27.5%[32] - Basic earnings per share for Q4 2024 were $0.17, compared to $0.23 in Q4 2023, reflecting a decrease of 26.1%[32] - Adjusted net income for Q4 2024 was $18.2 million, compared to $26.4 million in Q4 2023, a decrease of 30.9%[33] - Funds from operations for Q4 2024 were $43.3 million, down from $51.0 million in Q4 2023, a decline of 15.1%[35] - Normalized funds from operations for Q4 2024 were $43.3 million, compared to $51.3 million in Q4 2023, a decrease of 15.6%[35] - EBITDA for Q4 2024 was $75,673 million, down from $90,105 million in Q4 2023, and for the full year, EBITDA decreased to $299,655 million from $308,404 million[37] - Adjusted EBITDA for Q4 2024 was $74,160 million compared to $90,010 million in Q4 2023, with full-year adjusted EBITDA increasing to $330,817 million from $311,002 million[37] Assets and Liabilities - Total assets decreased to $2.93 billion in Q4 2024 from $3.11 billion in Q4 2023, a reduction of 5.6%[31] - Long-term debt decreased to $973.1 million in Q4 2024 from $1.08 billion in Q4 2023, a decline of 10.2%[31] - The company reported a total accumulated deficit of $240.0 million as of December 31, 2024, compared to $308.8 million in 2023, showing an improvement[31] Future Guidance - CoreCivic expects 2025 net income guidance between $53.5 million and $67.5 million, with diluted EPS guidance of $0.48 to $0.61[19] - The company plans to invest $29.0 million to $31.0 million in maintenance capital expenditures for real estate assets in 2025[22] - CoreCivic anticipates new contracts in 2025 due to modified immigration policies, potentially activating idle facilities[20] - Guidance for the year ending December 31, 2025, projects net income between $53,500 million and $67,500 million, with EBITDA expected to range from $281,000 million to $293,000 million[38] - Funds From Operations (FFO) for 2025 is guided between $152,500 million and $167,500 million, with FFO per diluted share estimated between $1.37 and $1.50[38] - Interest expense for 2025 is projected at approximately $74,000 million, with depreciation and amortization of real estate assets expected to be around $99,000 million to $100,000 million[38] Operational Insights - Occupancy rate reached 75.5% in Q4 2024, the highest level since Q1 2020, despite contract terminations[6] - Revenue from ICE decreased by 21.6% in Q4 2024, totaling $120.3 million compared to $153.5 million in Q4 2023[10] - A new management contract with the state of Montana was awarded, increasing the geographic range of facilities serving the state[18] - Share repurchase program authorized up to $350.0 million, with $181.1 million spent to repurchase 14.5 million shares since May 2022[15] Challenges and Considerations - The company anticipates continued challenges due to government budget uncertainties and potential changes in policies affecting the corrections industry[30] - The company emphasizes the importance of non-GAAP measures like FFO and Adjusted EBITDA for evaluating operating performance, particularly in the real estate sector[40] - Adjusted Net Income is calculated by adding back certain expenses related to debt repayments and unusual charges to GAAP net income, providing a clearer view of operational performance[41] - The company notes that different companies may calculate these non-GAAP measures differently, which may limit comparability[41] - The company believes that assessing performance without the impact of depreciation or amortization is useful due to the unique nature of its real estate assets[40]

Higher Occupancy and Cost Management Drive Strong Financial PerformanceEstablishes 2025 Full Year Guidance BRENTWOOD, Tenn., Feb. 10, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today its fourth quarter and full year 2024 financial results. Financial Highlights – Fourth Quarter 2024 Total revenue of $479.3 millionNet income of $19.3 millionDiluted earnings per share of $0.17; Adjusted Diluted EPS of $0.16Normalized FFO per diluted share of $0.39Adjusted EBITDA ...

Many companies that exist today aren't really influenced by who is in office all that much. But in some industries, that can make all the difference. A good example would be the private prison industry. For several years now, the Democratic Party has hadCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model ac ...

The stock price of CoreCivic (NYSE: CXW ), one of the largest private correction facilities in the US, is lagging behind its competitor GEO Group ( GEO ). GEO Group was one of my buy stocks inI'm a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings an ...

BRENTWOOD, Tenn., Jan. 16, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) ("CoreCivic") announced today it has been awarded a new management contract with the state of Montana to care for additional inmates outside the state of Montana, with 240 inmates anticipated to arrive at our 2,672-bed Tallahatchie County Correctional Facility in Tutwiler, Mississippi during the first quarter of 2025. During January 2025, CoreCivic also received an additional 120 Montana inmates at the Company's 1,896-bed Saguar ...

BRENTWOOD, Tenn., Jan. 13, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2024 fourth quarter financial results after the market closes on Monday, February 10, 2025. A live broadcast of CoreCivic's conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Tuesday, February 11, 2025. To participate via telephone and join the call live, please register in advance here https://register.vevent.com/register/BIaa5339be2aca4992a0 ...

Inflation and Labor Market Impact - The US experienced a cooling of inflation in 2024, but economists warn that President-elect Donald Trump's mass deportation plan for undocumented immigrants could significantly affect prices [1] - Deporting a large number of undocumented immigrants could create labor force shortages, with a 2023 study in the Journal of Labor Economics indicating that 44,000 US-born workers could lose their jobs for every 500,000 immigrants removed from the labor force [1] Industry-Specific Effects - Immigrants, particularly unauthorized immigrants, are more likely to work in jobs that produce goods and services experiencing price increases, such as construction and agriculture [2] - Past mass deportation efforts suggest that prices in industries with high concentrations of unauthorized immigrants, like construction and agriculture, are likely to rise rather than fall [3]

Subscribers to Chart of the Week received this commentary on Sunday, October 27.Indulge, for a second, one last 2024 election postmortem. The American people have chosen former President Donald Trump to take the reins of the U.S. government once more. We’ve telegraphed ‘qui bono?’ from another Trump administration and reading recent options-centric tea leaves confirms a lot of our initial biases.ETF Winners, Losers Last WeekTrump’s win sent the cryptocurrency, banking, and energy sectors soaring. On Wednesd ...

A guard escorts an immigrant detainee from his 'segregation cell' back into the general population at the Adelanto Detention Facility, managed by GEO Group.The Geo Group and CoreCivic jumped more than 4% and nearly 8%, respectively, in premarket trading. Homan served as the head of Immigration and Customs Enforcement during Trump's first term.Trump said Sunday on Truth Social that Homan "will be in charge of all Deportation of Illegal Aliens back to their Country of Origin." Homan will be responsible for th ...

CoreCivic, Inc. (NYSE:CXW) Q3 2024 Earnings Conference Call November 7, 2024 9:30 AM ET Company Participants Mike Grant - Managing Director of Investor Relations Damon Hininger - President and Chief Executive Officer David Garfinkle - Chief Financial Officer Conference Call Participants Jason Weaver - JonesTrading M. Marin - Zacks Investment Research, Inc. Brian Violino - Wedbush Securities Joe Gomes - Noble Capital Markets Greg Gibas - Northland Securities Kirk Ludtke - Imperial Capital, LLC Ben Briggs - S ...