Exhibit 99.1

 

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Contact:   

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

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

CORECIVIC REPORTS SECOND QUARTER 2020 FINANCIAL RESULTS

BRENTWOOD, Tenn. – August 5, 2020 – CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the second quarter of 2020.

Financial Highlights – Second Quarter 2020

 

   

Total revenue of $472.6 million, a decrease of 3.6%

 

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CoreCivic Safety revenue of $424.1 million

 

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CoreCivic Community revenue of $26.0 million

 

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CoreCivic Properties revenue of $22.5 million

 

   

Net income attributable to common stockholders of $22.2 million

 

   

Diluted EPS of $0.18

 

   

Adjusted diluted EPS of $0.33

 

   

Normalized FFO per diluted share of $0.56

 

   

Adjusted EBITDA of $101.1 million

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “I want to, once again, say a special thank you to our professionals across the country who have continued to provide selfless and extraordinary service to our government partners and individuals entrusted in our care during a time of unprecedented challenge. We continue to closely monitor developments and guidance from our government partners and public health officials, including the CDC, for prevention and addressing of positive COVID-19 cases, and we have continuously implemented updated policies and procedures in response.

Commenting on the improvement in financial results in the second quarter of 2020 from the first quarter of 2020, Hininger continued, “Our financial performance has remained strong and our cash flow generation has once again shown its resiliency, even in light of the far-reaching impacts of the global pandemic, which began to impact our financial results at the end of the first quarter of 2020. We are pleased with our operational response throughout this unprecedented year and remain prepared to quickly respond to the changing needs of our government partners, as they develop.”

Second Quarter 2020 Financial Results Compared With Second Quarter 2019

Net income attributable to common stockholders generated in the second quarter of 2020 totaled $22.2 million, or $0.18 per diluted share, compared with $48.6 million, or $0.41 per diluted share, in the second quarter of 2019. Adjusted for special items, net income in the second quarter of 2020 was $39.6 million, or $0.33 per diluted share (Adjusted Diluted EPS), compared with adjusted net income in the second quarter of 2019 of $56.4 million, or $0.47 per diluted share. Special items in the second quarter of 2020 included $11.7 million in asset impairments, $8.2 million in expenses associated with COVID-19 (including $6.3 million of

 

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


The following information was filed by Corecivic, Inc. (CXW) on Wednesday, August 5, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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