CoreCivic(US:CXW)2026-02-11 21:05Financial Performance - Total revenue for Q4 2025 was $604.0 million, up 26% year-over-year, and full year revenue reached $2.2 billion, up 13%[2] - Net income for Q4 2025 was $26.5 million, a 38% increase from Q4 2024, with diluted EPS at $0.26, up 53%[2][3] - Adjusted EBITDA for Q4 2025 was $92.5 million, a 25% increase compared to Q4 2024, driven by the resumption of operations at the Dilley Facility and the acquisition of the Farmville Detention Facility[8] - Total revenue for Q4 2025 was $603.95 million, a 26% increase from $479.29 million in Q4 2024[31] - Net income for Q4 2025 was $26.54 million, compared to $19.28 million in Q4 2024, representing a 38% increase[31] - Adjusted diluted EPS for Q4 2025 was $0.27, up from $0.16 in Q4 2024, reflecting a 69% increase[33] - Funds From Operations (FFO) for Q4 2025 was $53.53 million, compared to $43.28 million in Q4 2024, a 24% increase[35] - EBITDA for the twelve months ended December 31, 2025, was $362,117,000, up from $299,655,000 in 2024, reflecting a year-over-year increase of 20.9%[36] - Adjusted EBITDA for the three months ended December 31, 2025, was $92,454,000, compared to $74,160,000 in 2024, indicating a growth of 24.6%[36] Revenue Sources - Revenue from U.S. Immigration & Customs Enforcement (ICE) more than doubled to $244.7 million in Q4 2025 from $120.3 million in Q4 2024, reflecting increased operational capacity[6] Future Guidance - The company expects 2026 net income guidance of $147.5 million to $157.5 million and diluted EPS guidance of $1.49 to $1.59[18] - The guidance for net income for the year ending December 31, 2026, ranges from $147,500,000 to $157,500,000[37] - The projected EBITDA for the year ending December 31, 2026, is between $437,000,000 and $445,000,000[37] - Funds From Operations (FFO) is expected to be between $251,750,000 and $261,000,000 for the year ending December 31, 2026[37] - Interest expense for the year ending December 31, 2026, is estimated to be around $85,500,000[37] Operational Metrics - The occupancy level in the Safety and Community segments increased to 78.1% in Q4 2025 from 75.5% in Q4 2024[4] - Facility operating margins in the Safety segment decreased to 22.2% in Q4 2025 from 23.6% in the prior year quarter, but are expected to improve as new facilities reach stabilized occupancy[7] Capital Expenditures and Investments - CoreCivic plans to invest $30.0 million to $35.0 million in maintenance capital expenditures for real estate assets and $35.0 million to $40.0 million for capital expenditures associated with previously idled facilities in 2026[20] - The company has expanded its revolving credit facility from $275.0 million to $575.0 million, enhancing balance sheet flexibility for strategic investments[13] Shareholder Actions - The company repurchased 11.2 million shares of common stock in 2025 at an aggregate purchase price of $218.4 million, with $300.5 million remaining under the share repurchase program as of December 31, 2025[11][12] Financial Health - Total assets increased to $3.26 billion as of December 31, 2025, compared to $2.93 billion in 2024, marking an 11% growth[30] - The company reported a total long-term debt of $1.21 billion as of December 31, 2025, an increase from $973.07 million in 2024[30] - The company’s accumulated deficit decreased to $123.48 million in 2025 from $239.98 million in 2024, showing improvement in financial health[30] Strategic Focus - The company plans to focus on expanding its correctional and detention services in response to increased demand from government partners[25] - CoreCivic is actively pursuing new development and acquisition opportunities to enhance its service offerings and operational capacity[26] Non-GAAP Measures - The company emphasizes the importance of non-GAAP measures like FFO and Adjusted EBITDA for assessing operational performance[39] - Adjusted Net Income is calculated by adding certain expenses to GAAP Net Income to provide a clearer picture of ongoing operations[40]