CoreCivic Increases 2017 Financial Guidance - Quick Facts

(RTTNews) - CoreCivic, Inc. (CXW) announced the company now expects its 2017 adjusted earnings per share in the range of $1.52 to $1.56, compared to prior guidance range of $1.50 to $1.56.

Adjusted for special items, net income in the second quarter of 2017 was $45.8 million, or $0.39 per share compared to adjusted net income in the second quarter of 2016 of $57.9 million, or $0.49 per share. Total revenue was $436.4 million compared to $463.3 million in the second quarter of 2016. The company said the decrease in revenue was attributable to the previously disclosed amendment to the contract for South Texas Family Residential Center resulting in a reduction to revenue of $28.3 million from the prior year quarter, and the expiration of contract with the Federal Bureau of Prisons at Eden Detention Center in April 2017.