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Sep 30, 2024
Corecivic Q3 2024 Earnings Report
CoreCivic's financial performance was driven by cost management and higher occupancy rates.
Key Takeaways
CoreCivic reported a 2% increase in total revenue, reaching $491.6 million. Net income increased by 52% to $21.1 million, with diluted earnings per share of $0.19. The company raised its full year financial guidance, reflecting strong operating momentum and cost management.
Total revenue increased by 2% to $491.6 million.
Net income rose by 52% to $21.1 million.
Adjusted EBITDA increased by 11% to $83.3 million.
Compensated occupancy increased to 75.2% from 72.0% in the prior year.
Corecivic
Corecivic
Corecivic Revenue by Segment
Corecivic Revenue by Geographic Location
Revenue by Segment
Safety Revenue
CapyFin.comCommunity Revenue
CapyFin.comProperties Revenue
CapyFin.comRevenue by Geographic Location
ICE Revenue
CapyFin.comState Customers Revenue
CapyFin.com Forward Guidance
CoreCivic raised its financial guidance for the full year 2024.
Positive Outlook
- Net income is expected to be between $55.5 million and $61.5 million.
- Adjusted Net Income is projected to be between $78.0 million and $84.0 million.
- Diluted EPS is anticipated to be between $0.49 and $0.55.
- Adjusted Diluted EPS is expected to be between $0.69 and $0.75.
- Adjusted EBITDA is projected to be between $317.0 million and $321.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income