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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.

Overview of CoreCivic (CXW)

CoreCivic Inc. is a diversified government-solutions company that has been addressing challenging public sector needs for more than 40 years. Operating primarily in the fields of corrections management, detention facilities, and residential reentry centers, CoreCivic delivers solutions designed to support high-quality operations in correctional and detention management while helping to reduce recidivism. As a publicly traded REIT and one of the nation's largest owners of government-related real estate, the company plays a pivotal role in providing cost-effective services to government partners.

Business Model and Core Segments

CoreCivic operates through a well-diversified business model segmented into three main categories:

  • Safety Segment: This segment includes the design, development, and management of correctional and detention facilities. Facilities under this category are either owned by CoreCivic or managed under long-term lease agreements. The company provides operational management ensuring safety, security, compliance, and efficiency, which builds upon its extensive experience in corrections management.
  • Community Segment: Focused on residential reentry centers, this segment addresses the significant public policy challenge of recidivism. By offering safe and structured reentry environments, CoreCivic supports community reintegration efforts and offers alternatives to traditional incarceration.
  • Properties Segment: As a real estate investment trust, CoreCivic also manages a portfolio of properties leased to government agencies and third-party entities. This segment leverages the company's longstanding expertise in real estate to provide government partners with versatile and cost-efficient property solutions.

Operational Excellence and Industry Position

CoreCivic’s success is built on decades of operational excellence and a deep understanding of government needs. The company consistently delivers flexible and reliable service by adapting its facilities and offering tailored solutions for governmental challenges. This includes managing high-quality correctional facilities that not only provide incarceration but also support broader reentry programs designed to aid public safety and reduce repeat offenses.

Expertise in Government Solutions

At its core, CoreCivic is driven by a commitment to high standards, professionalism, and service to the public good. The company has developed an advanced operational infrastructure to manage complex contractual relationships with government agencies. Its expertise spans beyond standard corrections management to include innovative government real estate solutions. This dual focus not only solidifies its position in the market but also allows the company to address multiple facets of public safety and operational efficiency.

Competitive Landscape and Differentiation

The competitive landscape in corrections management and government solutions involves several players, yet CoreCivic differentiates itself through scale, experience, and an adaptable business model. Rather than simply offering facility management services, CoreCivic provides integrated solutions that combine corrections, reentry services, and real estate expertise. This integrated approach enables it to be a dependable partner for government agencies seeking holistic solutions to control costs while maintaining high standards of operation.

Robust Operational Framework and Commitment to Quality

CoreCivic’s operational framework emphasizes:

  • Operational Efficiency: Through streamlined processes, robust facility management practices, and adherence to compliance standards, the company ensures that its facilities remain cost-effective and high-quality managed.
  • Scalability: With extensive experience in managing a large network of facilities, CoreCivic is capable of scaling its operations to meet evolving government requirements.
  • Innovation in Service Delivery: The company continuously adapts its service offerings to implement innovative solutions for government real estate and corrections management challenges, leveraging technology and operational best practices.

Market Significance and Strategic Insights

CoreCivic holds a significant position in the U.S. corrections and detention market as one of the largest private operators and REIT owners in the sector. Its contracts with government agencies underscore its role as a trusted provider for public safety solutions. CoreCivic operates in an environment where public and governmental expectations are high, and its longstanding relationships with state and federal agencies stand as a testament to its reliability and expertise.

Key Takeaways for Investors

Investors examining CoreCivic are likely to appreciate the company’s established market presence, diversified revenue streams, and the strategic advantage of being a comprehensive solutions provider within the government services industry. The clear segmentation of its business model allows for an in-depth understanding of how each part of its operations contributes to overall performance. Whether it is through the management of correctional and detention facilities or the provision of real estate solutions, CoreCivic demonstrates a robust capability to adapt and meet the rigorous demands of its governmental partners.

Conclusion

In summary, CoreCivic (CXW) offers an expansive portfolio of services centered on corrections, reentry, and government real estate solutions. Its long history, operational expertise, structured business segments, and consistent focus on service quality form the foundation of its significant market presence. For those seeking an in-depth look at how a diversified government-solutions company functions, CoreCivic serves as a prime example of effective management in a challenging and evolving industry.

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CoreCivic (NYSE: CXW) announced that the Oklahoma Department of Corrections intends to terminate the lease for the 2,400-bed North Fork Correctional Facility (NFCF) upon its expiration on June 30, 2023. This decision stems from staffing challenges and increased competition from other private facilities, which have hindered NFCF's utilization since the COVID-19 pandemic started. The facility generated $12.2 million in rental revenue for CoreCivic in 2022. The company is also in negotiations regarding the lease for the 1,670-bed Davis Correctional Facility, which is similarly set to expire on June 30, 2023. CoreCivic may renew this lease only if it provides a satisfactory return.

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CoreCivic, Inc. (NYSE: CXW) announced its upcoming release of first quarter 2023 financial results, scheduled for May 3, 2023, after market close. The company will host a conference call on May 4, 2023, at 10:00 a.m. CT, where stakeholders can listen to the results and participate in discussions. Interested participants must register in advance to receive dial-in details. CoreCivic is a leading provider of government solutions, emphasizing its role in corrections, detention, and real estate systems.

With over 40 years of experience, CoreCivic continues to support government partners in addressing public needs effectively and professionally. More information can be found on their official website.

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CoreCivic (CXW) reported its 2022 financial results, highlighting total revenues of $1.85 billion. CoreCivic Safety led revenues at $1.68 billion, while Net Income was $122.3 million, including special items. The diluted EPS stood at $1.03, with adjusted EPS at $0.57. The company made significant strides in debt reduction, lowering its outstanding debt by over $287 million. For 2023, CoreCivic expects net income between $58 million to $75 million and diluted EPS of $0.50 to $0.65, citing labor market challenges and continued occupancy restrictions as concerns.

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CoreCivic, Inc. (NYSE: CXW) will release its 2022 fourth quarter financial results on February 8, 2023, after market close. A live conference call is scheduled for February 9, 2023, at 10:00 a.m. CT (11:00 a.m. ET).

Investors can join the call via telephone by registering in advance. The audio webcast will also be accessible on the Company’s website under the “Events & Presentations” section. A replay will be available for seven days following the event.

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CoreCivic (CXW) announced the full redemption of its $350 million 4.625% Senior Notes due 2023, effective February 1, 2023. As of December 21, 2022, $153.9 million of these notes remained outstanding. The redemption aligns with the company's debt reduction strategy, leaving no debt maturing until April 2026. Funded through a mix of cash and revolving credit, this move emphasizes CoreCivic's commitment to financial responsibility.

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CoreCivic (NYSE: CXW) announced it received notice from the California Department of Corrections and Rehabilitation (CDCR) to terminate the lease for the California City Correctional Center (CCCC) by March 31, 2024, due to a declining inmate population. The lease is funded through June 30, 2023, and future funding will be decided in early 2023. CoreCivic plans to engage with California regarding continued utilization of CCCC, citing its modern infrastructure. Rental revenue from CCCC was $33.3 million in 2021 and $25.7 million for nine months ending September 2022.

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FAQ

What is the current stock price of Corecivic (CXW)?

The current stock price of Corecivic (CXW) is $22.21 as of April 18, 2025.

What is the market cap of Corecivic (CXW)?

The market cap of Corecivic (CXW) is approximately 2.3B.

What are the core business segments of CoreCivic?

CoreCivic operates through three primary segments: Safety, which involves corrections and detention facility management; Community, focused on residential reentry centers; and Properties, which manages government-leased real estate assets.

How does CoreCivic generate revenue?

The majority of CoreCivic's revenue is generated from long-term management contracts for corrections and detention facilities, combined with revenue from its portfolio of government-leased properties and reentry center operations.

What makes CoreCivic different from its competitors?

CoreCivic differentiates itself with its integrated approach to government solutions, combining corrections management, reentry services, and diversified real estate operations, all backed by decades of operational expertise.

What is the role of the Safety segment within the company?

The Safety segment focuses on the management of correctional and detention facilities. It is the primary revenue driver and includes facilities that are either owned by CoreCivic or managed via long-term agreements with government agencies.

How does the Community segment contribute to addressing recidivism?

The Community segment manages residential reentry centers, offering structured environments that support the reintegration of individuals into society, thereby helping to address the challenges of recidivism.

What type of properties does CoreCivic own under its Properties segment?

Under the Properties segment, CoreCivic owns a diverse portfolio of real estate assets leased to government agencies and third-party entities, providing flexible and cost-efficient solutions for government real estate needs.

Why is CoreCivic considered a significant player in its industry?

With over 40 years of experience, extensive operational infrastructure, and a diversified business model, CoreCivic has established itself as a reliable partner in government solutions, managing a large network of correctional and detention facilities nationwide.

How does CoreCivic ensure operational quality in its facilities?

CoreCivic emphasizes stringent operational standards, consistent compliance with government contracts, and continuous process improvements that maintain the efficiency and quality of its correctional, reentry, and property management services.
Corecivic

NYSE:CXW

CXW Rankings

CXW Stock Data

2.35B
106.43M
2.06%
92.68%
2.23%
Security & Protection Services
Real Estate Investment Trusts
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United States
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