CoreCivic Q1 Profit Rises, Lifts FY Outlook

(RTTNews) - CoreCivic, Inc. (CXW) Wednesday reported first-quarter net income of $25.1 million, or $0.23 per share, compared with $9.5 million, or $0.08 per share last year.

The prior year quarter included expenses associated with debt repayments and refinancing transactions of $27.2 million. When adjusted for special items, adjusted net income for the first quarter of 2024 was $27.9 million, or $0.25 per share.

Funds From Operations for the first quarter was $49.7 million, or $0.45 per share, compared with $33.9 million, or $0.30 per share, in the first quarter of 2024.

Normalized FFO, which excludes special items, was $52.6 million, or $0.46 per share, in the first quarter of 2024.

Looking forward to full year 2025, the company now expects EPS of $0.83 to $0.92 and FFO per share of $1.72 to $1.82.

Previously, the company expected EPS of $0.48 to $0.61, and FFO per share of $1.37 to $1.50.