CoreCivic, Inc.

CoreCivic Announces $500 Million Accelerated Share Repurchase Agreement

CoreCivic entered into a $500 million accelerated share repurchase agreement, utilizing the bulk of its $755.8 million authorization to return capital to shareholders. The company funded the transaction with cash on hand and expects to receive an initial delivery of approximately 12.4 million shares, with final settlement anticipated prior to the end of Q2 2027. As a result of the reduced share count, CoreCivic raised its full-year diluted EPS guidance to $15.62-$15.82 and increased Normalized FFO guidance to $2.68-$2.77 per share.

•2mo ago

CXW: 10-Q · periodic report

CoreCivic's Q2 2026 revenue rose 27% year over year to $684.9 million on surging ICE detention demand, with diluted EPS of $0.37 versus $0.35 a year ago and six-month net income of $75.1 million, up from $63.7 million. The filing discloses transformative subsequent events: on July 2, 2026 the company sold its California City and Otay Mesa facilities to the Department of Homeland Security for $1.5 billion gross, and on August 4 it sold its Prairie and Midwest facilities for another $734.0 million, for combined anticipated net proceeds of roughly $1.6 billion and gains near $1.8 billion. CoreCivic continues to manage all four facilities under existing ICE contracts, and discussions about potential additional sales to ICE are in preliminary stages. Management is redeploying the windfall: $270.0 million of revolver borrowings and a $100.0 million incremental term loan were repaid, the $238.5 million 4.75% senior notes will be redeemed on August 12, 2026, and the board expanded the buyback authorization by $500.0 million to $1.2 billion, leaving $755.8 million available. Growth continues alongside the monetization: a new five-year ICE contract awarded August 3, 2026 activates the idle 1,600-bed Prairie Facility with roughly $75.0 million of expected annual revenue, ICE populations under CoreCivic contracts are up 59.6% since the start of 2025, and the $199.8 million CSP pharmacy acquisition added a new CoreCivic Services segment serving 600-plus correctional facilities across 32 states.

SEC 10-Q•2mo ago

CoreCivic Reports Second Quarter 2026 Financial Results

CoreCivic reported Q2 revenue of $684.9 million, up 27.3% year-over-year, driven by facility activations and higher populations, with Adjusted EPS rising 5.6% to $0.38. The company completed a strategic shift by selling four facilities to the federal government for $2.2 billion in gross proceeds, using the funds to repay $608.5 million in debt and expand its share repurchase authorization by $500 million. FY26 guidance was raised to reflect the asset sale, projecting Net Income of $1.50B-$1.52B driven by a $1.8B gain, while Adjusted Net Income is expected to range between $161.5 million and $169.5 million.

•2mo ago

CoreCivic Sells Two Additional Detention Facilities

CoreCivic sold the Prairie Correctional Facility and Midwest Regional Reception Center to the U.S. Department of Homeland Security for an aggregate gross sales price of $734.0 million. After accounting for taxes and transaction costs, the company expects net proceeds of approximately $522.5 million, which it intends to use for debt reduction and share repurchases while continuing to operate the facilities under existing ICE management contracts. Following this transaction, CoreCivic retains 61 owned or leased facilities with a capacity of roughly 67,000 beds and manages an additional eight facilities with 13,000 beds.

•2mo ago

CoreCivic Announces New Contract Award At Prairie Correctional Facility

CoreCivic secured a five-year contract with U.S. Immigration and Customs Enforcement to operate its 1,600-bed Prairie Correctional Facility in Minnesota, reactivating a site idle since 2010. Once fully ramped in the second quarter of 2027, the facility is expected to generate approximately $75 million in annual revenue, though management noted the impact on 2026 earnings will be immaterial. The agreement features a fixed monthly payment plus per diem fees, with operations commencing August 11, 2026.

•2mo ago

CoreCivic to Redeem 4.750% Senior Notes Due 2027

CoreCivic will redeem all outstanding $238.5 million in principal of its 4.750% senior notes due 2027 on August 12, 2026, ahead of the original October 2027 maturity date. The redemption price will be 100% of the principal amount plus a make-whole premium and accrued interest, funded entirely from cash on hand. This early retirement of debt reduces future interest expense and demonstrates the company's liquidity position.

•3mo ago

CoreCivic Sells Two Detention Facilities

CoreCivic completed the sale of its California City and Otay Mesa detention facilities to the U.S. government for an aggregate gross price of $1.5 billion, resulting in approximately $1.1 billion in net proceeds after taxes and expenses. The company intends to use the proceeds to repay roughly $716 million in debt, including its entire bank credit facility and a portion of its 4.75% senior notes due 2027. Remaining funds will be allocated to general corporate purposes, potentially including share repurchases, while CoreCivic continues to manage the sold facilities under existing contracts with Immigration & Customs Enforcement.

•3mo ago

CoreCivic Reports First Quarter 2026 Financial Results

CoreCivic reported strong Q1 2026 results, with revenue rising 25.8% year-over-year to $614.7 million and Adjusted EBITDA increasing 36% to $110.1 million, driven by the activation of four previously idled facilities. The company raised its full-year 2026 guidance for Adjusted Diluted EPS to $1.53-$1.63 and Adjusted EBITDA to $453.8M-$461.8M, reflecting the recent $148 million acquisition of Clinical Solutions Pharmacy. Management also repurchased 2.3 million shares for $44.7 million and secured a $100 million incremental term loan to maintain liquidity and support further capital deployment.

•5mo ago