ODOC

CoreCivic Reports Second Quarter 2023 Financial Results

Retrieved on: 
Monday, August 7, 2023
Workforce, Oklahoma Department of Corrections, Damon T. Hininger, Travel, McRae Correctional Institution, Davis Correctional Facility, Senior, Bed, Nursing, Share repurchase, ICE, Bank statement, Supplement, Debt-to-GDP ratio, Policy, COVID-19, Tax, GAAP, Federal Bureau of Prisons, Title 42 of the United States Code, CoreCivic, ODOC, CXW, Government, FFO, EBITDA, Documentation, McRae, Funds from operations, Investment, Depreciation, EPS, Ageing, Environment, Keystone State Park (Oklahoma), NYSE, Normalization, BOP, Pharmaceutical industry, Video game, Car rental

BRENTWOOD, Tenn., Aug. 07, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the second quarter of 2023.

Key Points: 
  • BRENTWOOD, Tenn., Aug. 07, 2023 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the second quarter of 2023.
  • Net income in the second quarter of 2023 totaled $14.8 million, or $0.13 per diluted share, compared with net income in the second quarter of 2022 of $10.6 million, or $0.09 per diluted share.
  • Earnings before interest, taxes, depreciation and amortization (EBITDA) was $71.8 million in the second quarter of 2023, compared with $71.1 million in the second quarter of 2022.
  • Adjusted EBITDA was $72.1 million in the second quarter of 2023, compared with $78.8 million in the second quarter of 2022.

CoreCivic Enters Into New Lease Agreement With the State of Oklahoma for the Davis Correctional Facility

Retrieved on: 
Wednesday, June 14, 2023
Oklahoma Department of Corrections, CoreCivic, DCF, NYSE, ODOC, CXW, Lease, Property management

CoreCivic expects to enter into a 90-day contract extension for the current management contract, after which time operations will transfer from CoreCivic to ODOC in accordance with the new lease agreement.

Key Points: 
  • CoreCivic expects to enter into a 90-day contract extension for the current management contract, after which time operations will transfer from CoreCivic to ODOC in accordance with the new lease agreement.
  • The new lease agreement includes a base term commencing October 1, 2023, with a scheduled expiration date of June 30, 2029, and unlimited two-year renewal options.
  • Terms of the 90-day contract extension are expected to remain consistent with the existing management contract at the DCF.
  • Annual rental revenue generated from the ODOC at the DCF under the new lease agreement will be $7.5 million during the base term and will be reported in the CoreCivic Properties business segment upon lease commencement.