Many companies that exist today aren't really influenced by who is in office all that much. But in some industries, that can make all the difference. A good example would be the private prison industry. For several years now, the Democratic Party has hadCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model ac ...

The stock price of CoreCivic (NYSE: CXW ), one of the largest private correction facilities in the US, is lagging behind its competitor GEO Group ( GEO ). GEO Group was one of my buy stocks inI'm a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings an ...

BRENTWOOD, Tenn., Jan. 16, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) ("CoreCivic") announced today it has been awarded a new management contract with the state of Montana to care for additional inmates outside the state of Montana, with 240 inmates anticipated to arrive at our 2,672-bed Tallahatchie County Correctional Facility in Tutwiler, Mississippi during the first quarter of 2025. During January 2025, CoreCivic also received an additional 120 Montana inmates at the Company's 1,896-bed Saguar ...

BRENTWOOD, Tenn., Jan. 13, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2024 fourth quarter financial results after the market closes on Monday, February 10, 2025. A live broadcast of CoreCivic's conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Tuesday, February 11, 2025. To participate via telephone and join the call live, please register in advance here https://register.vevent.com/register/BIaa5339be2aca4992a0 ...

Inflation and Labor Market Impact - The US experienced a cooling of inflation in 2024, but economists warn that President-elect Donald Trump's mass deportation plan for undocumented immigrants could significantly affect prices [1] - Deporting a large number of undocumented immigrants could create labor force shortages, with a 2023 study in the Journal of Labor Economics indicating that 44,000 US-born workers could lose their jobs for every 500,000 immigrants removed from the labor force [1] Industry-Specific Effects - Immigrants, particularly unauthorized immigrants, are more likely to work in jobs that produce goods and services experiencing price increases, such as construction and agriculture [2] - Past mass deportation efforts suggest that prices in industries with high concentrations of unauthorized immigrants, like construction and agriculture, are likely to rise rather than fall [3]

Subscribers to Chart of the Week received this commentary on Sunday, October 27.Indulge, for a second, one last 2024 election postmortem. The American people have chosen former President Donald Trump to take the reins of the U.S. government once more. We’ve telegraphed ‘qui bono?’ from another Trump administration and reading recent options-centric tea leaves confirms a lot of our initial biases.ETF Winners, Losers Last WeekTrump’s win sent the cryptocurrency, banking, and energy sectors soaring. On Wednesd ...

A guard escorts an immigrant detainee from his 'segregation cell' back into the general population at the Adelanto Detention Facility, managed by GEO Group.The Geo Group and CoreCivic jumped more than 4% and nearly 8%, respectively, in premarket trading. Homan served as the head of Immigration and Customs Enforcement during Trump's first term.Trump said Sunday on Truth Social that Homan "will be in charge of all Deportation of Illegal Aliens back to their Country of Origin." Homan will be responsible for th ...

Financial Data and Key Metrics Changes - In Q3 2024, CoreCivic generated revenue of $491.6 million, a 2% increase compared to the prior year quarter. Excluding the South Texas family residential center, underlying revenue growth would have been over 5% [10] - Normalized funds from operations (FFO) were $47.6 million, or $0.43 per share, compared to $40.5 million, or $0.35 per share in Q3 2023, representing a 23% per share increase [11] - GAAP net income was $0.19 per share compared to $0.12 per share in the prior year quarter, and adjusted EPS was $0.20 compared to $0.14 per share in the prior year quarter [51] Business Line Data and Key Metrics Changes - Revenue from federal partners was flat year-over-year, with ICE revenue declining 3.4%. However, excluding the South Texas facility, ICE revenue increased by 10.9% [13][14] - State revenue in the Safety and Community segments grew 3% year-over-year, driven by higher per diem rates and new state contracts [17] - Local revenue in the Safety and Community segments increased by 39%, reflecting new management contracts with Hinds County and Harris County [21] Market Data and Key Metrics Changes - CoreCivic's overall occupancy in the Safety and Community segments increased to 75.2% from 72% in the prior year period, with significant improvements in both Safety and Community segments [22][23] - ICE's detention population count remained relatively flat during Q3, with a slight increase in October [16] Company Strategy and Development Direction - CoreCivic aims to address the growing needs of federal, state, and local government partners, particularly in light of increasing prison populations and staffing challenges [35][36] - The company is preparing to activate idle facilities to meet potential demand from ICE and other partners, with proactive steps taken to ensure readiness [37][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term macro environment for their services, despite uncertainties during an election year [35] - The company anticipates increased demand for detention capacity, particularly with the new Republican leadership in Congress [94] Other Important Information - CoreCivic ended the quarter with leverage at 2.2x trailing 12-month adjusted EBITDA, slightly below their long-term target [33] - The company updated its 2024 financial guidance, expecting adjusted EPS of $0.69 to $0.75, up from previous guidance [69] Q&A Session Summary Question: Margin profile changes with increased occupancy - Management indicated that if occupancy increases to the low-80s, margins could reach around 25%, but this may be adjusted downwards due to the termination of the South Texas contract [122] Question: Impact of USMS contracting on private providers - Management confirmed that having multiple contracting tools would likely ease bottlenecks and make it easier for USMS to utilize private providers [124] Question: Timeline for RFIs and RFPs - Management noted that there may be more RFIs and potential expansions in scope, indicating a busy period for procurement activity [130]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED: SEPTEMBER 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 001-16109 CORECIVIC, INC. (Exact name of registrant as specified in its chart ...

Financial Performance - CoreCivic reported total revenue of $491.6 million for Q3 2024, marking a 2% increase year-over-year [1] - Net income reached $21.1 million, a significant increase of 52% compared to the same quarter in 2023 [1][2] - Adjusted net income for Q3 2024 was $22.4 million, up 44% from $15.6 million in Q3 2023 [2][3] - Diluted earnings per share (EPS) were $0.19, while adjusted diluted EPS was $0.20, reflecting increases from the previous year [1][2] Operational Highlights - Compensated occupancy improved to 75.2% in Q3 2024 from 72.0% in the prior year, contributing to enhanced operating margins [1][4] - The company achieved a normalized funds from operations (FFO) per diluted share of $0.43, representing a 23% increase year-over-year [1][7] - Adjusted EBITDA for Q3 2024 was $83.3 million, an 11% increase from $75.2 million in Q3 2023 [1][6] Revenue Sources - Revenue from ICE, CoreCivic's largest government partner, decreased by 3.4% year-over-year, primarily due to the termination of the ICE contract at the South Texas Family Residential Facility [5] - Excluding the South Texas facility, revenue from ICE increased by 10.9% compared to Q3 2023 [5] Capital Strategy - The company has a share repurchase program authorized for up to $350 million, with $177.9 million remaining as of September 30, 2024 [8][9] - CoreCivic repurchased 4.0 million shares for $59.5 million in 2024, totaling 14.1 million shares repurchased since the program's inception [8][9] Financial Guidance - CoreCivic raised its full-year financial guidance for 2024, projecting net income between $55.5 million and $61.5 million, up from the previous guidance of $42.0 million to $50.4 million [10] - Adjusted net income guidance was also increased to a range of $78.0 million to $84.0 million [10][11]