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, Inc. (CXW) reported its fourth quarter and full year financial results for 2020 on February 10, revealing full-year revenues of $1.91 billion. The company generated net income of $54.2 million for the year and a diluted EPS of $0.45. The fourth-quarter results showed a net loss of $26.8 million, primarily due to special items including $47.6 million in asset impairments. In 2020, CoreCivic focused on debt reduction, repaying over $125 million in long-term debt and anticipating net cash proceeds of $150 million from asset sales.
CoreCivic, Inc. (NYSE: CXW) announced it will release its 2020 fourth-quarter financial results on February 10, 2021, post-market close. A conference call will follow at 10:00 AM CT on February 11, 2021, accessible via the company's website. CoreCivic, the largest owner of partnership correctional and detention facilities in the U.S., emphasizes its role in providing flexible government solutions aimed at addressing public challenges, including corrections and residential reentry.
CoreCivic has appointed Daren Swenson as the first Vice President of Reentry Partnerships and Innovation, aiming to enhance the company’s reentry programming to combat recidivism. Swenson, who previously led CoreCivic Community, will foster partnerships with experts and policymakers to operationalize innovative solutions. His role emphasizes the critical nature of collaboration in addressing the challenges faced by justice-involved individuals. The company, a leader in corrections and reentry services, remains committed to improving outcomes and reducing recidivism through high-quality programming.
CoreCivic, Inc. (NYSE: CXW) announced tax allocations of its 2020 dividend distributions. Shareholders will receive a $0.44 dividend per share, payable on April 15, 2020. The Form 1099-DIV serves as a summary for reporting these dividends on federal income tax returns. The company emphasizes its government solutions role, highlighting its extensive experience and commitment to public service, while providing a range of correctional and reentry solutions.
CoreCivic, Inc. (NYSE: CXW) announced its participation in NobleCon17, a virtual investor conference, on January 20, 2021, at 4:30 p.m. EST. CEO Damon Hininger and CFO David Garfinkle will present, and attendees can join at no cost. A video webcast of the presentation will be available the following day on the Company’s website and through Channelchek. CoreCivic is a leader in government solutions, providing flexible and cost-effective services in corrections, reentry, and real estate management.
CoreCivic, Inc. (NYSE: CXW) has successfully sold 42 non-core government leased properties for $106.5 million, generating net proceeds of approximately $27 million after costs. These properties spanned about 573,000 gross rentable square feet, with the sale aimed at reallocating capital to higher-return opportunities. The original purchase price was $98.7 million. Following the transaction, CoreCivic's remaining portfolio includes 15 properties totaling 2.7 million square feet. The company operates 48 correctional facilities, with a design capacity of around 71,000 beds.
CoreCivic (CXW) reported Q3 2020 financial results, revealing total revenue of $468.3 million, with net income of $26.7 million or $0.22 per diluted share. Adjusted diluted EPS stood at $0.28, down from $0.47 year-over-year. The company repaid $102.2 million in debt, enhancing financial flexibility. Despite lower contract utilization due to COVID-19, new contracts with USMS and Idaho Department of Correction show promise for future revenue. The firm remains cautious, withholding guidance amid ongoing uncertainties.
CoreCivic (CXW) has announced its commitment to advocate for new policies aimed at reducing recidivism, including the restoration of Pell Grants and voting rights for formerly incarcerated individuals. Over the past three years, CoreCivic has supported 66 bills, sending nearly 2,000 letters to federal and state officials. CEO Damon T. Hininger emphasizes the importance of treating individuals with dignity and facilitating their reintegration into society. The company has a history of partnering with government agencies to improve corrections and detention services.
CoreCivic, Inc. (NYSE: CXW) will release its third quarter financial results for 2020 after the market closes on November 4, 2020. A live conference call is scheduled for November 5, 2020, at 10:00 a.m. CT, accessible via the company's website or by phone. The call will be followed by an online replay and a telephonic replay available until November 13, 2020. CoreCivic focuses on providing government solutions in corrections and detention management and is the largest owner of partnership correctional facilities in the U.S.
CoreCivic, Inc. (CXW) has entered a new contract under an Intergovernmental Agreement with the United States Marshals Service (USMS) for its Cimarron Correctional Facility in Cushing, Oklahoma. The contract, effective September 15, 2020, has an initial three-year term with unlimited 24-month extensions. This comes after plans to idle the facility due to COVID-19's impact on inmate populations. The activation will incur startup costs of $0.5 million to $1.5 million as the facility transitions to meet USMS standards.
