CoreCivic Q1 revenue beats estimates

Corecivic

06/05/2026 21:31

Overview

U.S. corrections facility operator's Q1 revenue rose 26% yr/yr, beating analyst expectations

Adjusted diluted EPS for Q1 climbed 74% to $0.40, driven by facility activations and higher occupancy

Company repurchased 2.3 mln shares for $44.7 mln

Outlook

CoreCivic raises 2026 net income guidance to $147.8 mln-$157.8 mln from $147.5 mln-$157.5 mln

Company now sees 2026 adjusted EBITDA at $453.8 mln-$461.8 mln, up from $437.0 mln-$445.0 mln

CoreCivic expects increased demand from government partners in H2 2026 after recent ICE population decline

Result Drivers

FACILITY ACTIVATIONS - Q1 results were driven by the activation of four previously idle facilities and the acquisition of the Farmville Detention Center, leading to higher occupancy and revenue, per CEO Patrick Swindle

HIGHER ICE REVENUE - Management revenue from ICE, CoreCivic's largest government partner, nearly doubled yr/yr due to facility activations and the Farmville acquisition

SHARE REPURCHASES AND ERCs - Per share results were favorably impacted by a 10.1% decrease in weighted average diluted shares outstanding due to share repurchases and a $4.6 mln increase in employee retention credits under the CARES Act

Company press release: ID:nGNXHvFDC

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$614.70 mln
$604.48 mln (6 Analysts)
Q1 EPS
$0.38
Q1 Net Income
$37.9 mln
Q1 Adjusted EBITDA
$110.1 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "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 $29.00, about 49.3% above its May 5 closing price of $19.42

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)