CoreCivic reports Q2 2024 revenue of $490.1M, net income $19.0M, provides full year guidance

CoreCivic, Inc.

2024-Q2 EPS reported $0.25 revenue$990,795,000

Total revenue $490.1M in Q2 2024, up 6% vs Q2 2023; occupancy rose to 74.3% from 70.3%.
Adjusted EBITDA was $83.9M, up 16% from $72.1M; Normalized FFO per share up 27% to $0.42.
Repurchased 1.3M shares for $20.1M in Q2; board authorized additional $125M buyback, leaving $177.9M remaining.
ICE terminates South Texas Facility effective Aug 9, 2024; facility contributed $39.3M revenue in Q2, impact in guidance.
Full year 2024 guidance: Adjusted EPS $0.58-$0.66, Adjusted EBITDA $302.4M-$308.4M; no debt maturities until 2027.

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