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Mar 31, 2022
Corecivic Q1 2022 Earnings Report
CoreCivic announced its financial results, reporting a net income of $19.0 million and total revenue of $453.0 million.
Key Takeaways
CoreCivic reported strong cash flow in Q1 2022, with total revenue of $453.0 million and net income of $19.0 million, or $0.16 per diluted share. The company is focused on debt reduction and plans to return capital to shareholders soon. However, the company is facing short-term headwinds, including earnings disruption from the commencement of a large new state contract and a challenging labor market.
Total revenue reached $453.0 million.
Net Income was reported at $19.0 million.
Diluted earnings per share amounted to $0.16.
Adjusted diluted EPS was $0.14.
Corecivic
Corecivic
Corecivic Revenue by Segment
Revenue by Segment
Safety Revenue
CapyFin.comCommunity Revenue
CapyFin.comProperties Revenue
CapyFin.com Forward Guidance
CoreCivic updated its financial guidance for the full year 2022, reflecting uncertainties associated with the timing of the reversal of Title 42, a challenging labor market, and a larger earnings disruption at La Palma Correctional Center.
Challenges Ahead
- Uncertainties associated with the timing of the reversal of Title 42.
- Continuation of a challenging labor market, including above average wage inflation and higher nursing-related expenses.
- Larger earnings disruption at La Palma Correctional Center.
- Expected decline in detainee populations from ICE more rapidly than previously forecasted.
Revenue & Expenses
Visualization of income flow from segment revenue to net income