Corecivic Stock Price, News & Analysis

CoreCivic (NYSE:CXW) has secured a new contract to restart operations at its 600-bed West Tennessee Detention Facility through an intergovernmental services agreement between the City of Mason and ICE. The facility, idle since September 2021, is expected to generate annual revenue of $30-35 million once fully operational.

The contract extends through August 2030 with potential extensions and includes a fixed monthly payment plus per diem based on detainee populations. The facility reactivation is projected to create over 200 local jobs and marks CoreCivic's fourth facility reactivation, providing ICE with over 7,600 total beds through various contract modifications.

CoreCivic (NYSE:CXW) reported strong Q2 2025 financial results, with total revenue increasing 9.8% to $538.2 million and net income surging 103.4% to $38.5 million. The company's performance was driven by increased demand from U.S. Immigration and Customs Enforcement (ICE), with nationwide detention populations reaching all-time highs.

Key highlights include diluted EPS of $0.35 (up 105.9%), adjusted EBITDA of $103.3 million (up 23.2%), and the repurchase of 2.0 million shares for $43.2 million. The company completed the $67 million acquisition of the Farmville Detention Center and raised its full-year 2025 guidance, projecting net income between $116.4-$124.4 million.

CoreCivic's average daily population increased to 54,026 with 76.8% occupancy across Safety and Community segments, and is actively re-activating previously idled facilities to meet growing demand.

CoreCivic (NYSE:CXW) has scheduled its 2025 second quarter earnings release for Wednesday, August 6, 2025, after market close. The company will host a conference call to discuss the results on Thursday, August 7, 2025, at 10:00 a.m. central time.

Participants can join the call by pre-registering through the provided link to receive dial-in details. Additionally, an audio webcast will be available on CoreCivic's website, with a replay accessible for seven days following the call.

CoreCivic (NYSE: CXW) has announced a definitive agreement to acquire the Farmville Detention Center in Virginia for $67.0 million. The 736-bed facility, built in 2010, provides civil detention services to adult male noncitizens through an ICE agreement valid until March 2029. The acquisition is expected to close on July 1, 2025, funded through cash and credit facilities. The deal is projected to generate approximately $40.0 million in annual incremental revenue. The transaction includes acquiring 100% membership interests in entities owning the facility and will add over 200 employees to CoreCivic's workforce.

CoreCivic (NYSE: CXW) reported strong Q1 2025 financial results with total revenue of $488.6 million and net income of $25.1 million. The company's occupancy reached 77.0%, up from 75.2% in Q1 2024. Key financial metrics include diluted EPS of $0.23 and EBITDA of $81.0 million. The company repurchased 1.9 million shares for $37.9 million. CoreCivic is reactivating three previously idle facilities under ICE agreements: the 2,400-bed Dilley Immigration Processing Center, the 1,033-bed Midwest Regional Reception Center, and the 2,560-bed California City Immigration Processing Center. Based on strong Q1 performance and activation activities, CoreCivic raised its 2025 guidance, now projecting net income of $91.3-101.3 million and EBITDA of $331.0-339.0 million.

CoreCivic (NYSE: CXW) has scheduled its 2025 first quarter earnings release and conference call. The company will release its financial results after market close on Wednesday, May 7, 2025. A live conference call will be held the following day, Thursday, May 8, 2025, at 10:00 a.m. central time (11:00 a.m. eastern time).

Interested participants can register in advance for the telephone conference through the provided registration link. The audio webcast will be accessible through CoreCivic's website under the 'Events & Presentations' section, with a replay available for seven days following the call.

CoreCivic (NYSE: CXW) announced significant changes to its Board of Directors effective March 17, 2025. The company is appointing three new independent directors - Dawn Smith, Stacey Tank, and Nina Tran - expanding the board from 11 to 14 members. Smith, currently President of Cologix, brings expertise in corporate law and IT. Tank, CEO of Bespoke Beauty Brands, offers executive leadership experience in both commercial and non-profit sectors. Tran contributes extensive financial and real estate expertise.

The board will subsequently decrease to 12 members following the departure of Robert Dennis and Anne Mariucci, who will not seek re-election at the 2025 Annual Meeting. Both Dennis and Mariucci have served on CoreCivic's board for over a decade, with 12 and 13 years of service respectively.

CoreCivic (NYSE: CXW) has announced the resumption of operations at the South Texas Family Residential Center in Dilley, Texas, under an amended intergovernmental services agreement with ICE. The facility, which can accommodate up to 2,400 individuals, will restart operations after being idle since August 2024.

The company has signed a new lease agreement with Target Hospitality , the facility owner. The contract expires in March 2030 and is expected to generate approximately $180 million in annual revenue once fully activated. CoreCivic will provide residential services, including recreational activities, life skills, counseling, and medical care, while Target will handle food services.

The agreement includes a fixed monthly payment structure based on the gradual activation of facility neighborhoods. Pre-activation activities have already begun, with earnings contribution expected starting in Q2 2025. The company anticipates increased demand from federal government partners and expects continued robust contracting activity throughout 2025.

CoreCivic (NYSE: CXW) has secured contract modifications with U.S. Immigration and Customs Enforcement (ICE) to expand detention capacity across four facilities. The expansion includes: up to 784 detainees at Northeast Ohio Correctional Center, Nevada Southern Detention Center, and Cimarron Correctional Facility in Oklahoma, plus 252 beds at Tallahatchie County Correctional Facility in Mississippi.

The facilities currently serve multiple government contracts: Northeast Ohio houses 650 U.S. Marshals Service (USMS) residents and 925 Ohio Department of Rehabilitation and Correction residents; Nevada Southern accommodates 800 USMS residents; Cimarron holds 1,100 USMS residents; and Tallahatchie serves approximately 1,400 residents under contracts with eight different customers.