CoreCivic Q3 net income $68.3M ($0.58); raises FY2022 adjusted EPS guidance to $0.47-0.50

CoreCivic, Inc.

2022-Q3 EPS reported $0.82 revenue$1,373,896,000

Q3 revenue $464.2M; net income $68.3M ($0.58 diluted EPS) vs $30.0M ($0.25) a year ago.
Adjusted diluted EPS fell to $0.08 from $0.28; Adjusted EBITDA $68.4M vs $100.9M on La Palma transition and lost contracts.
Repurchased 6.6M shares for $74.5M YTD; board increased authorization to $225M, $150.5M remaining.
Sold McRae Correctional Facility for $130M, gain $77.5M; reduced debt $109.1M in Q3.
Raised full-year 2022 guidance: Adjusted Diluted EPS $0.47-$0.50 (prior $0.44-$0.50); Adjusted EBITDA $301.5M-$304.0M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CoreCivic, Inc. reported third quarter of 2022 results: revenue $464.2 million, net income $68.3 million, EPS $0.58 per diluted share. Guidance raised.

Period: third quarter of 2022
Revenue: $464.2 million
Net income: $68.3 million
EPS: $0.58 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

e the transition at our La Palma Correctional Center is complete, which we expect to occur near the end of this year, and as the remaining occupancy restrictions caused by the pandemic are removed.” Financial Highlights – Third Quarter 2022 • Total revenue of $464.2 million • CoreCivic Safety revenue of $423.2 million • CoreCivic Community revenue of $26.4 million • CoreCivic Properties revenue of $14.6 million • Net Income of $68.3 million • Diluted earnings per share of $0.58 • Adjusted Diluted EPS of $0.08 • Funds From Operations per diluted share of $0.28 • Normalized Funds From Operations per diluted share of $0.29 • Adjusted EBITDA of $68.4 million 5501 Virginia Way, Brentwood, Tennessee 37027, Phone: 615-263-3000 Third Quarter 2022 Financial Results Page

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Source: SEC EDGAR

accession 0001193125-22-276354

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