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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.
Corecivic
Corecivic
Corecivic Revenue by Segment
Revenue by Segment
Safety Revenue
CapyFin.comCommunity Revenue
CapyFin.comProperties Revenue
CapyFin.com 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.
- Expected capital expenditures of approximately $75.8 million to $79.3 million in 2022.
- Transition of ICE populations to other facilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income