Wednesday, February 12, 2025
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 high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for nearly 40 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. Learn more at www.corecivic.com.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Opportunity, Opportunity, Opportunity. With the change in Administration and new Congress, CoreCivic is anticipating significant growth opportunities, possibly the most significant growth in the Company’s history, over the next several years. We believe the Company is exceptionally well positioned operationally and financially to meet this expected sharp increase in demand for its services.
Potential. Management has put forth a proposal to ICE for 28,000 beds. If accepted, such a proposal could be worth about $1.5 billion in revenue. Just adding in approximately 15,000 beds from existing idle facilities and the South Texas facility could add $750-$800 million of revenue and some $200-$275 million of adjusted EBITDA. Current proposals by the Administration and Congress support such growth, although funding will be key.
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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.