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. (CXW) operates as a leading government-solutions provider specializing in corrections management, detention facilities, and residential reentry programs. This page serves as the definitive source for official company announcements and market-moving developments.
Access real-time updates on CoreCivic's operational milestones, including new facility contracts, government partnership expansions, and reentry program enhancements. Investors will find essential updates such as quarterly earnings disclosures, strategic initiatives, and leadership changes that impact the company's position in the public safety sector.
Our curated news collection enables efficient tracking of CoreCivic's role in addressing complex corrections challenges through innovative government solutions. Key updates include contract renewals with federal/state agencies, facility modernization projects, and recidivism reduction efforts through community programs.
Bookmark this page for direct access to CoreCivic's verified press releases and objective news coverage. Regularly updated content ensures stakeholders maintain current awareness of the company's operational landscape and industry developments.
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.
CoreCivic (NYSE: CXW) reported strong Q4 2024 financial results with total revenue of $479.3 million and net income of $19.3 million. Full-year 2024 performance included total revenue of $2.0 billion and net income of $68.9 million. The company achieved its highest occupancy level since Q1 2020 at 75.5%.
Notable developments include a new contract with Montana for additional inmates and facility investments of $40-45 million for potential activations. The company's ICE revenue decreased 21.6% in Q4 2024 compared to Q4 2023, primarily due to the South Texas facility contract termination. However, state customer revenue increased 6.4%.
For 2025, CoreCivic projects net income between $53.5-67.5 million and EBITDA of $281.0-293.0 million. The company continued its share repurchase program, buying back 4.4 million shares in 2024 for $68.5 million, with $168.9 million remaining under the authorization.
CoreCivic (NYSE: CXW) has secured a new management contract with Montana to house 240 additional inmates at its Tallahatchie County Correctional Facility in Mississippi during Q1 2025. The company will also receive 120 more Montana inmates at its Saguaro Correctional Facility in Arizona under an existing contract.
The new contract runs through December 31, 2026, with potential extensions up to seven years total. This expansion brings the total addition of Montana inmates in CoreCivic's out-of-state facilities to approximately 600 over roughly 18 months. CoreCivic also manages the 664-bed Crossroads Correctional Center in Montana.
The additional inmates will bring the Saguaro facility close to design capacity and improve bed utilization at Tallahatchie, where CoreCivic now manages contracts for eight customers, including recent additions from Wyoming, Harris County (Texas), and Hinds County (Mississippi).
CoreCivic (NYSE: CXW) has announced its schedule for the release of its 2024 fourth quarter financial results, which will be made public after market close on Monday, February 10, 2025. The company will host a conference call to discuss these results on Tuesday, February 11, 2025, at 10:00 a.m. central time (11:00 a.m. eastern time).
Interested participants can join the live telephone broadcast by pre-registering through the provided link, after which they will receive confirmation details including a dial-in number and unique passcode. Additionally, an audio-only webcast will be available on CoreCivic's website under the 'Events & Presentations' section, with a replay accessible for seven days following the call.
CoreCivic (NYSE: CXW) has announced the promotion of Patrick Swindle to President and Chief Operating Officer, effective January 1, 2025. Swindle, who currently serves as Executive Vice President and COO, will take on the expanded role while Damon T. Hininger will continue as CEO and Board member. Swindle joined CoreCivic in 2007 and has held various leadership positions including Managing Director of Treasury, VP of Strategic Development, and EVP & Chief Corrections Officer. Prior to CoreCivic, he spent ten years in equity research at various financial firms. The company views this appointment as strategic during what they anticipate to be a period of rapid growth.
CoreCivic (NYSE: CXW) reported strong Q3 2024 financial results with total revenue of $491.6 million, up 2% year-over-year. Net income increased 52% to $21.1 million, with diluted EPS of $0.19. The company saw improved operating margins due to cost management and increased compensated occupancy to 75.2% from 72.0% year-over-year. Notable developments include the expiration of the California Department of Corrections lease and the termination of the ICE contract at South Texas Family Residential Center. Based on strong performance, CoreCivic raised its full-year 2024 guidance, projecting net income between $55.5-61.5 million and Adjusted EBITDA of $317.0-321.0 million.
CoreCivic, Inc. (NYSE: CXW) has announced the dates for its 2024 third quarter earnings release and conference call. The company will release its financial results after market close on Wednesday, November 6, 2024. A live broadcast of the conference call is scheduled for Thursday, November 7, 2024, at 8:30 a.m. central time (9:30 a.m. eastern time).
To participate in the call, interested parties must register in advance through the provided link. Upon registration, participants will receive confirmation details, including a unique passcode. An audio-only webcast of the conference call will be accessible from CoreCivic's website under the "Events & Presentations" section of the "Investors" page. A replay of the webcast will be available for seven days following the call.
