CoreCivic Q1 net income $12.4M, EPS $0.11; cuts FY23 guidance on Oklahoma contract losses

CoreCivic, Inc.

2023-Q1 EPS reported $0.11 revenue$458,002,000

Revenue $458.0M; net income $12.4M ($0.11 diluted EPS); adjusted diluted EPS $0.13.
FY23 guidance lowered: net income $51.2-63.2M (from $58-75M); normalized FFO $1.31-1.42/share.
Repurchased 2.5M shares for $24.9M; redeemed $153.8M of 4.625% Senior Notes due 2023; no debt maturities until 2026.
Guidance cut reflects non-renewal of North Fork lease (expiring June 30) and potential loss of Davis Correctional contract.
Sold two Philadelphia reentry centers for $5.8M on May 2; also marketing a Denver facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CoreCivic, Inc. reported the first quarter of 2023 results: revenue $458.0 million, net income $12.4 million, EPS $0.11.

Period: the first quarter of 2023
Revenue: $458.0 million
Net income: $12.4 million
EPS: $0.11
Result: reported results

Exact text from the filing

Financial Highlights – First Quarter 2023 • Total revenue of $458.0 million • CoreCivic Safety revenue of $417.7 million • CoreCivic Community revenue of $26.4 million • CoreCivic Properties revenue of $13.8 million • Net Income of $12.4 million • Diluted earnings per share of $0.11

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CoreCivic, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-135094

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