Exhibit 99.1

 

News Release   

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

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

CORECIVIC REPORTS SECOND QUARTER 2019 FINANCIAL RESULTS

INCREASES FULL YEAR 2019 FINANCIAL GUIDANCE

NASHVILLE, Tenn. – August 5, 2019 – CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the second quarter of 2019.

Highlights of Second Quarter 2019 vs. Second Quarter 2018

 

   

Total revenue of $490.3 million, an increase of 9%

 

   

CoreCivic Safety revenue of $440.4 million, an increase of 7%

 

   

CoreCivic Community revenue of $30.7 million, an increase of 24%

 

   

CoreCivic Properties revenue of $19.1 million, an increase of 60%

 

   

Net income of $48.6 million, an increase of 24%

 

   

Adjusted net income of $56.4 million, an increase of 32%

 

   

Diluted EPS of $0.41, an increase of 24%

 

   

Adjusted diluted EPS of $0.47, an increase of 31%

 

   

Normalized FFO per diluted share of $0.69, an increase of 21%

 

   

Adjusted EBITDA of $115.3 million, an increase of 18%

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “During the second quarter we continued to see strong fundamental growth across each of our business segments, and we anticipate these growth trends will continue, as demonstrated by our updated financial guidance and further supported by our recently announced new contract awards.

“We provide mission-critical infrastructure to our government partners, allowing them to more effectively and efficiently carry out their various missions. Our ability to adapt and respond to their evolving needs in a cost effective, humane and flexible manner allows government agencies to solve problems in ways they cannot do alone. We are extremely proud of our mission and of the hard work all of our employees – including officers, veterans, chaplains, teachers, nurses, and many others – perform on a daily basis and their dedication to helping the individuals entrusted to our care.”

Second Quarter 2019 Results

Net income generated in the second quarter of 2019 totaled $48.6 million, or $0.41 per diluted share, compared with $39.2 million, or $0.33 per diluted share, in the second quarter of 2018. Adjusted for special items, net income in the second quarter of 2019 was $56.4 million, or $0.47 per diluted share (Adjusted Diluted EPS), compared with adjusted net income in the second quarter of 2018 of $42.6 million, or $0.36 per diluted share. Special items in the second quarter of 2019 included $4.7 million of asset impairments, $2.7 million


The following information was filed by Corecivic, Inc. (CXW) on Tuesday, August 6, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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