CoreCivic reports Q4 adjusted EPS 23c, consensus 18c

Reports Q4 revenue $491.2M, consensus $489.61M. Commenting on financial results for the quarter, Hininger added, “We are pleased with CoreCivic’s financial performance for 2023, as we exceeded the financial guidance for the fourth quarter we provided in November 2023, and ended up in the top half of the financial guidance range we provided in February 2023 for Net income, Diluted EPS, FFO per diluted share and EBITDA. Importantly, we experienced a positive progression in our population and occupancy during each quarter of 2023, and we ended the year at 74% occupancy – our highest quarterly level since the second quarter of 2020, near the onset of the COVID-19 pandemic. The population increases came across federal, state and local government partners, and we are thankful for the trust our partners have in the essential solutions CoreCivic provides.”