CoreCivic Q3 Profit Rises

(RTTNews) - CoreCivic, Inc. (CXW) Wednesday reported third-quarter net income of $21.1 million or $0.19 per share, compared to $13.9 million or $0.12 per share last year.

Adjusted net income for the third quarter improved to $22.4 million or $0.20 per share, compared with adjusted net income of $15.6 million or $0.14 per share.

Funds From Operations for the third quarter was $47.1 million compared with $38.5 million in the third quarter of 2023.

Normalized FFO, which excludes special items, increased to $47.6 million, or $0.43 per share in the third quarter of 2024, compared with $40.5 million, or $0.35 per diluted share, in the third quarter of 2023.

Analysts polled by Thomson Reuters expected earnings of $0.09 per share for the quarter.

Looking forward to full year 2024, the company now expects EPS of $0.49 to $0.55, adjusted EPS of $0.69 to $0.75, FFO per share of $1.39 to $1.45 and normalized FFO per share of $1.59 to $1.65.

Previously, the company expected EPS of $0.37 to $0.45, adjusted EPS of $0.58 to $0.66, FFO per share of $1.28 to $1.36 and normalized FFO per share of $1.48 to $1.56.

Analysts currently expect earnings of $0.41 per share for the year.