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Dec 31, 2021
Corecivic Q4 2021 Earnings Report
CoreCivic's Q4 2021 financial performance was reported, demonstrating resilient cash flow generation.
Key Takeaways
CoreCivic reported Q4 2021 total revenue of $472.1 million, net income attributable to common stockholders of $28.0 million, and adjusted diluted EPS of $0.27.
Total revenue for Q4 2021 was $472.1 million.
Net income attributable to common stockholders for Q4 2021 was $28.0 million, or $0.23 per diluted share.
Adjusted diluted EPS for Q4 2021 was $0.27.
Adjusted EBITDA for Q4 2021 was $103.2 million.
Revenue by Segment
Forward Guidance
CoreCivic provided financial guidance for the full year 2022, expecting diluted EPS between $0.72 and $0.86 and EBITDA between $354.8 million and $370.0 million.
Positive Outlook
- Diluted EPS is projected to be between $0.72 and $0.86 for FY 2022.
- FFO per diluted share is projected to be between $1.55 and $1.70 for FY 2022.
- EBITDA is projected to be between $354.8 million and $370.0 million for FY 2022.
- New contract with the state of Arizona to care for up to 2,706 inmates at La Palma Correctional Center.
- Expected annualized revenue between $75 million and $85 million at the La Palma facility upon full utilization of the new contract.
Challenges Ahead
- Occupancy restrictions placed on bed capacity by many government partners due to the ongoing COVID-19 pandemic.
- Transition of resident populations at La Palma Correctional Center is expected to disrupt earnings and cash flows until occupancy stabilizes.
- Higher operating expenses due to above-average wage inflation expected in 2022 due to the 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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