Loading...
•
Mar 31, 2021
Corecivic Q1 2021 Earnings Report
CoreCivic reported a net loss due to special items including income tax expense and a shareholder litigation settlement, but highlighted strong underlying business performance amidst COVID-19 challenges.
Key Takeaways
CoreCivic reported a total revenue of $454.7 million. The company experienced a net loss attributable to common stockholders of $125.6 million, or $1.05 per diluted share, but an adjusted diluted EPS of $0.24. The GAAP financial results were impacted by non-recurring charges related to the conversion from a REIT to a taxable C-corporation and a shareholder litigation settlement.
Total revenue for the quarter was $454.7 million.
Net loss attributable to common stockholders was $125.6 million, or $1.05 per diluted share.
Adjusted diluted EPS was $0.24.
The company is focused on repaying debt to improve its credit profile.
Revenue by Segment
Forward Guidance
CoreCivic is not providing 2021 financial guidance due to uncertainties associated with COVID-19 and the application of the administration’s various executive actions and policies related to immigration and criminal justice.
Positive Outlook
- Business is very durable.
- Continues to generate cash flow.
- Essential nature of facilities and services in Safety and Community segments.
- Stability of Properties segment.
- Supported by payments from highly rated government agencies.
Challenges Ahead
- Uncertainties associated with COVID-19.
- Uncertainties associated with the application of the administration’s various executive actions and policies related to immigration and criminal justice.
- USMS has notified the Company that it will not be renewing its contract for our Northeast Ohio Correctional Center, which expires May 30, 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...