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Corecivic - CXW STOCK NEWS

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.

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CoreCivic reported strong Q2 2024 financial results, with total revenue of $490.1 million, a 6% increase from Q2 2023. Net income rose to $19.0 million, or $0.17 per diluted share. Adjusted EBITDA increased 16% to $83.9 million, while Normalized FFO per diluted share grew 27% to $0.42. The company saw higher occupancy rates and improved cost management. CoreCivic repurchased 1.3 million shares for $20.1 million and maintained a leverage ratio of 2.5x. The company also refinanced its debt, eliminating maturities until 2027. However, ICE will discontinue using the South Texas Family Residential Center from August 9, 2024. CoreCivic provided updated 2024 financial guidance, projecting net income between $42.0-$50.4 million and Adjusted EBITDA of $302.4-$308.4 million.

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CoreCivic (NYSE: CXW) will release its 2024 second quarter financial results after market close on August 7, 2024.

A live conference call will follow at 10:00 a.m. central time (11:00 a.m. eastern time) on August 8, 2024.

Participants can register in advance to join the call via telephone and will receive a confirmation email with details on how to access the call.

The audio-only webcast will be available on CoreCivic's website, with a replay accessible for seven days.

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CoreCivic (NYSE: CXW) has received a termination notice from U.S. Immigration and Customs Enforcement (ICE) for the South Texas Family Residential Center, effective August 9, 2024. The facility generated $156.6 million in 2023 and $39.3 million in Q1 2024. CoreCivic estimates an annualized earnings per share reduction of $0.38 to $0.41 due to the closure.

The facility, initially opened in the Obama-Biden administration, shifted its focus to detain single adults in 2021. Currently housing 1,561 individuals, CoreCivic leases the facility and land from a third-party lessor, with lease terms extending through September 2026. The company has suspended its financial guidance for 2024 due to cost uncertainties related to the closure.

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CoreCivic, Inc. (NYSE: CXW) reported strong first quarter 2024 financial results with a 9% revenue increase year-over-year, significant share buybacks, and debt refinancing. The company achieved its target leverage range for the first time since 2020. Revenue increased across Federal, State, and Local segments. Adjusted net income improved to $27.9 million, or $0.25 per diluted share, compared to the same quarter in 2023. Despite the lease expiration at the Oklahoma Department of Corrections facility, positive results were driven by higher populations and lower expenses. Revenue from ICE increased compared to the previous year. Adjusted EBITDA rose to $89.5 million. Normalized FFO per share increased by 35% to $0.46. The company undertook significant share repurchases and successfully issued $500 million in senior unsecured notes, extending the term of existing debt by three years. The lease expiration at the California City Correctional Center is expected to impact per share results in the second quarter and full year 2024. Updated full year 2024 guidance includes net income of $52.7 million to $63.7 million, adjusted net income of $74.0 million to $85.0 million, and adjusted diluted EPS of $0.66 to $0.76.

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CoreCivic, Inc. (CXW) will release its 2024 first quarter financial results on May 8, 2024, followed by a conference call on May 9, 2024. Participants can register in advance to join via telephone or access the webcast on the company's website.
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CoreCivic, Inc. (CXW) announces the full redemption of $675 million 8.250% senior unsecured notes due 2026, with a redemption price of 104.125% of the principal amount. The redemption date is set for April 15, 2024, utilizing cash on hand and credit facility capacity for funding.
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CoreCivic, Inc. (NYSE: CXW) completes a $500 million senior notes offering and tender offer, generating approximately $490.3 million in net proceeds. The company accepted $494,103,000 aggregate principal amount of 2026 Notes, with a Purchase Price of $1,043.75 per $1,000 principal amount. CoreCivic plans to use the proceeds to repurchase the 2026 Notes and potentially redeem the remaining outstanding notes.
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CoreCivic, Inc. (NYSE: CXW) appoints Catherine Hernandez-Blades and Alexander R. Fischer as independent members of the Board of Directors, expanding the board to twelve members. Donna M. Alvarado to retire after 2024 Annual Meeting of Shareholders. Positive response from CEO Damon Hininger on the new appointments.
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CoreCivic, Inc. (NYSE: CXW) successfully upsized and priced its offering of $500 million aggregate principal amount of 8.25% senior notes due 2029. The Notes will be senior unsecured obligations guaranteed by CoreCivic's subsidiaries. The net proceeds are expected to be approximately $490.3 million, used for a tender offer and potential redemption of existing notes. The offering is managed by Citizens JMP Securities, LLC, StoneX Financial Inc., FHN Financial Securities Corp., Wedbush Securities Inc., and TCBI Securities, Inc.
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CoreCivic, Inc. (NYSE: CXW) announces a Tender Offer for its 8.25% senior unsecured notes due 2026, seeking to repurchase $593.1 million worth of notes at a purchase price of $1,043.75 per $1,000 principal amount. The Tender Offer is set to expire on March 11, 2024, with a settlement date expected on March 12, 2024. The company may redeem any outstanding notes post-Tender Offer. The Offer is contingent on completing a Notes Offering generating at least $450 million. Citizens JMP Securities, LLC acts as the dealer manager for the Tender Offer.
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Corecivic

NYSE:CXW

CXW Rankings

CXW Stock Data

2.43B
106.55M
2.06%
92.68%
2.23%
Security & Protection Services
Real Estate Investment Trusts
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United States
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