Why CoreCivic (CXW) Stock Is Trading Lower Today

What Happened? Shares of private prison operator CoreCivic (NYSE:CXW) fell 12.2% in the morning session after the company reported third-quarter results that missed profit expectations and lowered its full-year earnings guidance. While revenue grew a strong 18.1% year-over-year to $580.4 million and beat Wall Street's expectations, this was overshadowed by weakness in profitability. The company's adjusted earnings of $0.24 per share fell short of analysts' estimates of $0.26. More significantly, manageme ...