Exhibit 99.1

 

News Release       LOGO

 

Contact:   

Investors: Cameron Hopewell - Managing Director, Investor Relations - (615) 263-3024

Financial Media: David Gutierrez, Dresner Corporate Services - (312) 780-7204

CORECIVIC REPORTS FOURTH QUARTER AND FULL YEAR 2019 FINANCIAL RESULTS

PROVIDES FIRST QUARTER AND FULL YEAR 2020 EPS AND FFO GUIDANCE

NASHVILLE, Tenn. – February 12, 2020 – CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the fourth quarter and full year 2019.

Highlights of Full Year 2019

 

   

Total revenue of $1.98 billion, an increase of 8%

 

   

CoreCivic Safety revenue of $1.78 billion, an increase of 6%

 

   

CoreCivic Community revenue of $123.3 million, an increase of 21%

 

   

CoreCivic Properties revenue of $77.3 million, an increase of 34%

 

   

Net income of $188.9 million, an increase of 19%

 

   

Adjusted net income of $204.8 million, an increase of 19%

 

   

Diluted EPS of $1.59, an increase of 19%

 

   

Adjusted diluted EPS of $1.72, an increase of 19%

 

   

Normalized FFO per diluted share of $2.62, an increase of 13%

 

   

Adjusted EBITDA of $443.9 million, an increase of 12%

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “Throughout the year we had many achievements, including strong full year financial performance and growth across each of our business segments. We also expanded our commitment to, and investment in, innovative recidivism-reducing programming, publicly advocated for the removal of barriers that create challenges for individuals reentering society, and issued the Company’s first ESG report.

“While we experienced positive growth trends for the full year 2019, our fourth quarter included lower utilization by Immigration and Customs Enforcement than we forecasted. Our initial guidance for 2020 does not assume ICE utilization will return to the elevated levels experienced in 2019, when the agency and the country faced a humanitarian crisis. However, we believe our efforts to diversify the Company’s business, including through M&A activity and new state contracts, will mitigate the normalization of ICE utilization.”

Highlights of Fourth Quarter 2019

 

   

Net income of $42.0 million, an increase of 2%

 

   

Adjusted net income of $42.8 million, a decrease of 11%

 

   

Diluted EPS of $0.35, equal to prior year quarter

 

   

Adjusted diluted EPS of $0.36, a decrease of 10%

 

   

Normalized FFO per diluted share of $0.59, a decrease of 6%

 

   

Adjusted EBITDA of $103.5 million, a decrease of 3%

 

5501 Virginia Way, Brentwood, Tennessee 37027, Phone: 615-263-3000


The following information was filed by Corecivic, Inc. (CXW) on Thursday, February 13, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Corecivic, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Corecivic, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account