CoreCivic Q2 revenue beats expectations
Overview
CoreCivic Q2 revenue rises 9.8% to $538.2 mln, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 , rises to $0.36, beats estimates
Co repurchased 2 mln shares, completed acquisition Farmville Detention Center for $67 mln
Outlook
CoreCivic raises 2025 net income guidance to $116.4 mln-$124.4 mln
Company increases 2025 adjusted net income guidance to $115.5 mln-$123.5 mln
CoreCivic expects 2025 diluted EPS of $1.08 to $1.15
Company sees 2025 adjusted EBITDA at $365 mln to $371 mln
Result Drivers
INCREASED ICE DEMAND - CoreCivic attributes strong Q2 performance to rising demand from U.S. Immigration and Customs Enforcement, with nationwide detention populations reaching all-time highs
FACILITY REACTIVATION - Reactivation of previously idled facilities, including the Dilley Immigration Processing Center, contributed to increased revenue
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $538.20 mln | $498.60 mln (6 Analysts) |
Q2 Adjusted EPS | Beat | $0.36 | $0.2 (6 Analysts) |
Q2 EPS | $0.35 | ||
Q2 Net Income | $38.50 mln | ||
Q2 Adjusted EBITDA | $103.30 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for CoreCivic Inc is $29.75, about 32.4% above its August 5 closing price of $20.11
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 24 three months ago
Press Release:
