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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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