CoreCivic Earnings Call Transcripts
Fiscal Year 2026
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Q2 results exceeded analyst expectations, driven by strong federal revenue and successful facility sales generating $1.6B in net proceeds. Guidance for 2026 was raised, with increased share repurchase capacity and significant debt reduction, positioning the company for growth.
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The meeting confirmed the election of all director nominees, ratified the independent auditor, and approved executive compensation. Stakeholder questions focused on human rights, facility investments, and transparency, with commitments to ongoing reporting and program expansion.
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Q1 2026 delivered strong financial results, with adjusted EPS up 74% and adjusted EBITDA up 36% year-over-year, driven by higher ICE populations and new contracts. Guidance for 2026 was raised, reflecting the CSP acquisition and facility activations, despite a temporary ICE population dip.
Fiscal Year 2025
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Q4 2025 saw strong financial and operational growth, with revenue from federal partners up 49% year-over-year and ICE revenue more than doubling. 2026 guidance projects record EBITDA and continued share repurchases, with significant capacity available for future demand.
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Q3 2025 saw strong revenue and earnings growth, driven by new federal contracts and rising ICE populations. Startup costs at newly activated facilities impacted guidance, but run rate EBITDA is expected to exceed $450 million by mid-2026. Share repurchases accelerated amid undervalued stock.
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A leading U.S. government solutions provider is expanding capacity by reactivating facilities and securing new ICE contracts, with record-high detention populations and strong financial performance. Share buybacks are prioritized, and a CEO transition is planned for 2026.
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The presentation highlighted strong government demand for detention capacity, with new ICE funding driving the need for up to 100,000 beds. The company is activating idle facilities and expects significant EBITDA growth, supported by a robust balance sheet and high contract renewal rates.
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Q2 2025 saw double-digit revenue and earnings growth, driven by record ICE populations and new contracts. Guidance for 2025 was raised, reflecting strong demand, major government funding, and successful facility activations and acquisitions.
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The company operates across safety, property, and community segments, with the safety segment dominating NOI and growth opportunities tied to reactivating idle facilities, especially for ICE contracts. Occupancy and margins are rising post-pandemic, and new contracts, regulatory shifts, and capital allocation to buybacks position the company for further expansion.
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Q1 2025 results exceeded expectations with strong revenue and profit, driven by higher facility utilization and new contracts, especially with ICE. Raised 2025 guidance reflects the reactivation of key facilities and ongoing expansion, while maintaining strong liquidity and disciplined capital allocation.
Fiscal Year 2024
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Q4 and full-year 2024 results exceeded expectations, with strong cost control and higher occupancy offsetting revenue declines from contract terminations. The company is preparing for major growth, driven by new federal policies and active proposals for 28,000 ICE beds, with significant CapEx allocated for facility readiness.
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Q3 2024 saw revenue rise 2% to $491.6M and normalized FFO per share up 23% year-over-year, with margin and occupancy gains across segments. Guidance for 2024 was raised, reflecting strong demand and new contract opportunities, especially with ICE and state partners.
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Q2 2024 saw 6% revenue growth and a 27% increase in normalized FFO per share, driven by higher occupancy and cost normalization. The South Texas contract termination will impact future margins, but strong demand and new contracts support a positive outlook.