CoreCivic reports Q4 adjusted EPS 16c, consensus 10c

Reports Q4 revenue $479.29M, consensus $465.17M. Damon Hininger, CoreCivic’s (CXW) CEO, commented, “We closed 2024 with strong financial performance. We look forward to the future, which we anticipate will be a period of accelerated demand from our federal, state, and local government partners. CoreCivic is exceptionally well-positioned to meet this growing demand given our readily available capacity and our strong balance sheet. CoreCivic has been in contact with U.S. Immigration and Customs Enforcement and the U.S. Marshals Service in preparation for their increased secure bed needs. Given the change in presidential administration, including key leadership positions within the Department of Homeland Security and the Department of Justice, as well as the swearing in of new members of Congress, both the establishment of federal funding and the formal facility contracting process for additional beds lie ahead of us. In preparation, we have approved $40 million to $45 million of capital investments related to potential facility activations and transportation services in anticipation of increased demand for our facilities and services.”