CoreCivic Q1 revenue $500.7M (+9% YoY); raises adjusted net income guidance for FY 2024

CoreCivic, Inc.

2024-Q1 EPS reported $0.08 revenue$500,686,000

Revenue $500.7M (up 9% YoY); net income $9.5M ($0.08 diluted EPS). Adjusted net income $27.9M ($0.25 adj. diluted EPS).
Occupancy 75.2%, highest since Q1 2020. ICE revenue rose to $153.8M from $130.7M YoY.
Repurchased 2.7M shares for $39.4M in Q1; net debt/Adj. EBITDA 2.7x, within target range.
Issued $500M of 8.250% senior notes due 2029 to refinance 2026 notes; incurred $27.2M debt-related expenses.
FY 2024 adj. net income guidance raised to $74-85M; adj. diluted EPS $0.66-0.76. California City lease expiration expected to reduce EPS by $0.15-0.16 for 2024.

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 first quarter of 2024 results: revenue $500.7 million, net income $9.5 million, EPS $0.08 per diluted share.

Period: first quarter of 2024
Revenue: $500.7 million
Net income: $9.5 million
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

Total revenue of $500.7 million • CoreCivic Safety revenue of $457.7 million • CoreCivic Community revenue of $29.9 million • CoreCivic Properties revenue of $13.0 million • Net income of $9.5 million; Adjusted net income of $27.9 million • Diluted earnings per share of $0.08

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Source: SEC EDGAR

accession 0001193125-24-134855

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