Loading...
•
Dec 31, 2020
Corecivic Q4 2020 Earnings Report
CoreCivic reported mixed Q4 2020 results with a net loss but an increase in adjusted diluted EPS, driven by new contracts and lower expenses, offset by COVID-19 impacts and lower ICE utilization.
Key Takeaways
CoreCivic's Q4 2020 results showed a net loss attributable to common stockholders of $26.8 million, or $0.22 per diluted share. However, adjusted diluted EPS increased to $0.40, up from $0.36 in Q4 2019. Revenue totaled $473.5 million. The results were influenced by new contracts, lower general and administrative expenses, and the ongoing impact of COVID-19.
Total revenue for Q4 2020 was $473.5 million.
Net loss attributable to common stockholders was $26.8 million, or $0.22 per diluted share.
Adjusted diluted EPS was $0.40, an increase from $0.36 in Q4 2019.
Adjusted EBITDA increased by 5.0% to $108.7 million.
Revenue by Segment
Forward Guidance
CoreCivic is not providing 2021 financial guidance due to uncertainties related to COVID-19 and the administration's executive orders on immigration and criminal justice. They expect to provide guidance when there is more clarity.
Positive Outlook
- The business is very durable and continues to generate cash flow.
- Resiliency is due to the essential nature of facilities and services in the Safety and Community segments.
- Diversification and stability of the Properties segment.
- Supported by payments from highly rated federal, state, and local government agencies.
- New contract award for the development and lease of two correctional facilities for the State of Alabama.
Challenges Ahead
- Uncertainties associated with COVID-19.
- Uncertainties associated with the application of the administration’s various executive orders related to immigration and criminal justice.
- Lower utilization of existing contracts with ICE.
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
Loading earnings performance data...
Loading earnings reaction data...