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Jun 30, 2020
Corecivic Q2 2020 Earnings Report
CoreCivic's financial performance remained strong, with resilient cash flow generation despite the impact of the global pandemic.
Key Takeaways
CoreCivic reported a decrease in total revenue by 3.6% to $472.6 million. Net income attributable to common stockholders was $22.2 million, with a diluted EPS of $0.18 and an adjusted diluted EPS of $0.33.
Total revenue decreased by 3.6% to $472.6 million.
Net income attributable to common stockholders was $22.2 million.
Diluted EPS was reported as $0.18.
Adjusted diluted EPS reached $0.33.
Corecivic
Corecivic
Forward Guidance
CoreCivic withdrew its financial guidance on April 1, 2020, due to uncertainties associated with COVID-19 and does not expect to provide financial guidance until further clarity is achieved.
Positive Outlook
- The business is very durable.
- The business continues to generate cash flow.
- Facilities and services are essential in the Safety and Community segments.
- There is diversification and stability of Properties segment.
- Payments are supported by highly rated federal, state, and local government agencies.