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Jun 30, 2022
Corecivic Q2 2022 Earnings Report
CoreCivic's financial performance was affected by short-term earnings disruptions and a challenging labor market, but the company made strides in improving its balance sheet and returned capital to shareholders through share repurchases.
Key Takeaways
CoreCivic reported its Q2 2022 financial results, including a total revenue of $456.7 million and a net income of $10.6 million. The company's operations were affected by short-term earnings disruptions, but it made progress in improving its balance sheet and initiated share repurchases.
Total revenue for the second quarter of 2022 was $456.7 million.
Net income for the second quarter of 2022 was $10.6 million, or $0.09 per diluted share.
The company increased its share buyback authorization to $225.0 million.
An agreement was entered to sell the McRae Correctional Facility for $130.0 million.
Revenue by Segment
Forward Guidance
CoreCivic provided updated financial guidance for the full year 2022, reflecting a delay in the reversal of Title 42, a larger earnings disruption at the La Palma Correctional Center, and the continuation of a challenging labor market.
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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