CoreCivic, Inc. (CXW) – Solid Fourth Quarter Buried Under the Noise

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Thursday, February 11, 2021

CoreCivic, Inc. (CXW)
Solid Fourth Quarter Buried Under the Noise

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    4Q21 Results. For the fourth quarter CoreCivic reported revenue of $473.5 million, down from $497.8 million in the same period last year. Reported loss was $0.22 per share versus EPS of $0.35 last year. Adjusted EPS was $0.40 versus $0.36. FFO was $0.19 per share compared to $0.58 last year while NFFO was $0.63 per share in the fourth quarter of 2020 compared to $0.59 last year. We had projected revenue of $468.5 million, EPS of $0.23, FFO of $0.47, and NFFO of $0.50.

    What Was Behind The Noise? CoreCivic had $75.6 million of special items in the quarter.  These included $47.6 million of asset impairments as the Community segment goodwill was written off, $7.1 million in expenses associated with debt repayments and refinancing transactions, $2.8 million of COVID related expenses, and $17.9 million in losses from the sale of real estate assets …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

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