CoreCivic beats Q3 revenue estimates

Corecivic

05/11/2025 22:15

Overview

CoreCivic Q3 revenue grows 18.1% yr/yr, beating analyst expectations

Adjusted EPS for Q3 misses analyst expectations

Company repurchased 1.9 mln shares at $40 mln cost, focusing on shareholder value

Outlook

CoreCivic revises 2025 net income guidance to $107 mln-$113 mln from $116.4 mln-$124.4 mln

Company expects 2026 results to benefit from new contracts at four facilities

CoreCivic plans to increase share repurchases in future quarters

Result Drivers

ICE DEMAND - Increased demand from ICE contributed significantly to revenue growth, with a 54.6% increase in revenue from ICE compared to the prior year

FACILITY ACTIVATIONS - Activation of idle facilities, including new contracts, expected to generate significant future revenue

START-UP EXPENSES - Start-up expenses related to new contracts negatively impacted financial guidance for the fourth quarter

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$580.4 mln
$543.11 mln (5 Analysts)
Q3 Adjusted EPS
Miss
$0.24
$0.27 (5 Analysts)
Q3 EPS
$0.24
Q3 Net Income
$26.3 mln
Q3 Adjusted EBITDA
$88.8 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the business support services peer group is "buy"

Wall Street's median 12-month price target for CoreCivic Inc is $29.50, about 37.5% above its November 4 closing price of $18.43

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nGNX4QCvht

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)