CoreCivic Q4 Adj Profit Down; Issues Q1, 2020 Outlook

(RTTNews) - CoreCivic, Inc. (CXW) reported that its fourth-quarter adjusted net income decreased to $42.8 million or $0.36 per share from $48.1 million or $0.40 per share last year.

Net income for the quarter was $42.0 million or $0.35 per share, compared to $41.2 million or $0.35 per share a year ago.

Funds From Operations or FFO was $69.0 million or $0.58 per share, up from $68.2 million or $0.57 per share last year.

Normalized FFO declined to $69.8 million or $0.59 per share from $75.1 million or $0.63 per share in the prior year.

Quarterly total revenue rose to $497.8 million from $482.2 million last year.

LOoking ahead to the first quarter 2020, the company expects earnings per share in a range of $0.23 to $0.27 and Adjusted EPS of $0.26 to $0.29. The company also anticipates first quarter FFO per diluted share of $0.46 to $0.50 and Normalized FFO per diluted share of $0.49 to $0.53.

For 2020, the company expects earnings per share in a range of $1.34 to $1.43, Adjusted EPS of $1.38 to $1.47. The company also expects FFO per diluted share of $2.26 to $2.36 and Normalized FFO per diluted share of $2.30 to $2.40 for 2020.