CoreCivic's Q3 revenue beats; additional $500 million buyback announced
CXW•CoreCivic reported third-quarter revenue of $744.1 million, above the $697.55 million analyst estimate, while adjusted EPS of $0.49 more than doubled but missed expectations. The company executed a $500 million share buyback and expanded its authorization by another $500 million.
1. Quarterly results
Revenue rose 28% year over year to $744.1 million, beating the $697.55 million consensus estimate. Adjusted EPS was $0.49, more than double a year earlier but below analyst expectations; reported EPS was $14.49 and net income was $1.34 billion.
2. Buyback and outlook
CoreCivic executed $500 million in share repurchases and expanded its buyback authorization by another $500 million. For 2026, it lowered its net income forecast to $1.461 billion to $1.467 billion, while raising its adjusted net income forecast to $165 million to $171 million from $157 million to $165 million. The guidance excludes the impact of potential additional facility sales.
3. Drivers of results
The company said increased demand from ICE and higher utilization at recently activated facilities drove results. Sales of four detention facilities to the federal government generated significant gains, while debt repayment and share repurchases reduced interest expense and share count.
