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. (NYSE: CXW) is a diversified, government‑solutions company whose news flow is closely tied to its work with public sector partners. Company announcements frequently cover corrections and detention management, residential and non‑residential reentry services, and government real estate solutions, reflecting its role as what it describes as the nation’s largest owner of partnership correctional, detention and residential reentry facilities and one of the largest operators of such facilities in the United States.
On this page, readers can follow news about CoreCivic’s earnings releases, financial guidance updates, and conference call schedules, as the company regularly announces quarterly results and related investor events. Disclosures often include commentary on facility activations, contract awards, and relationships with agencies such as U.S. Immigration and Customs Enforcement (ICE), state departments of corrections, and local government partners.
CoreCivic’s press releases also address capital structure developments, such as amendments to its credit facility and changes to its Board‑authorized share repurchase program. In addition, the company issues news regarding leadership changes, executive appointments, and governance matters, including CEO transitions and updates to executive roles overseeing corrections, detention, and reentry operations.
Investors and observers who track CXW news can use this feed to monitor new contracts for facility capacity, updates on the activation of previously idle facilities, and other developments that the company highlights as relevant to its government partners and stakeholders. Bookmark this page to review CoreCivic’s latest publicly released information as it becomes available through news and regulatory announcements.
CoreCivic (CXW) reported a total revenue of $464.6 million for Q2 2021, with net income of $15.6 million or $0.13 per diluted share, a decline from $22.2 million in Q2 2020. Adjusted diluted EPS was $0.25, down from $0.33 a year prior. Key highlights include the sale of five non-core properties for $328.7 million and the issuance of $450 million of unsecured senior notes. The company aims to reduce debt leverage, although uncertainties related to COVID-19 and executive orders impact its future financial guidance.
CoreCivic, Inc. (NYSE: CXW) announced it will release its second quarter financial results on August 9, 2021, after market close. A conference call will follow on August 10, 2021, at 10:00 a.m. CDT, accessible via the company's website and by phone. CoreCivic is the largest owner of correctional and detention facilities in the U.S. and provides government solutions aimed at addressing public needs. The company emphasizes its commitment to professionalism and service.
CoreCivic, Inc. (NYSE: CXW) announced its participation in Noble Capital Markets’ Virtual Road Show Series on July 15, 2021, featuring a corporate presentation by CEO Damon Hininger and CFO David Garfinkle, followed by a Q&A session. The live broadcast is set for 3:00 p.m. EDT, with free registration available for all investors. CoreCivic, the largest private owner of government-used real estate in the U.S., provides diverse government solutions aimed at addressing corrections, recidivism, and public safety.
CoreCivic (NYSE: CXW) has successfully completed the sale of three non-core properties for a total of $326 million. The transactions include the SSA Baltimore office building and two additional properties, with the company generating nearly $130 million in net proceeds after repaying $194.4 million in mortgage notes. This aligns with the company’s strategy to strengthen its balance sheet and reduce its debt ratio to between 2.25x and 2.75x. The asset sales exceeded the targeted net proceeds of $150 million announced in August 2020.
CoreCivic (NYSE: CXW) announced a new three-year contract with Mahoning County, Ohio, to utilize up to 990 beds at its Northeast Ohio Correctional Center. This contract, commencing on May 31, 2021, will help address the county's inmate population needs. Currently, the facility also manages approximately 800 inmates for the State of Ohio. CoreCivic has established itself as a significant player in the corrections and detention sector, leveraging its extensive experience and facilities to meet government needs.
CoreCivic, Inc. (NYSE: CXW) reported a net loss of $125.6 million for Q1 2021, equating to a diluted loss per share of $1.05, largely influenced by significant non-recurring charges. Total revenue reached $454.7 million, with CoreCivic Safety contributing $409.8 million. Adjusted diluted EPS was $0.24, down from $0.30 in Q1 2020. The company has transitioned from a REIT to a C-corporation, affecting its tax obligations. Financial guidance for 2021 remains uncertain due to COVID-19 and regulatory changes.
CoreCivic, Inc. (NYSE: CXW) will release its 2021 Q1 financial results post-market on May 5, 2021. A conference call is set for May 6, 2021, at 10:00 a.m. CT, accessible via the company's website and by phone. CoreCivic is recognized as the largest owner of partnership correctional facilities in the U.S. and offers services addressing government challenges through flexible and cost-effective solutions. The company has over 35 years of experience in corrections, detention management, and residential reentry services.
CoreCivic, Inc. (NYSE: CXW) announced a settlement regarding the Grae v. Corrections Corporation of America lawsuit, originally filed in 2016. The company will pay $56 million to resolve the case, which was prompted by a decline in stock price following a Department of Justice memo to reduce private prison use. CoreCivic maintains the allegations were baseless but believes settling eliminates ongoing risks and distractions. The settlement requires court approval and contains no admission of wrongdoing by the defendants.
CoreCivic, Inc. (NYSE: CXW) closed a $450 million offering of 8.25% senior unsecured notes due 2026 on April 14, 2021, priced at 99% of face value, yielding 8.50%. Net proceeds of approximately $435.1 million will be used to redeem $250 million of its 5.00% senior notes due 2022 and to repay $128 million of its 4.625% senior notes due 2023. The offering was made under a shelf registration statement and is subject to standard risks. The company aims to enhance its financial position by reducing debt obligations.
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