CoreCivic, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 07, 2024 at 04:15 pm
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CoreCivic, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 11.99 million compared to USD 14.17 million a year ago. Revenue was USD 491.25 million compared to USD 471.43 million a year ago. Net income was USD 26.47 million compared to USD 24.44 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.21 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.21 a year ago.
For the full year, sales was USD 49.88 million compared to USD 57.87 million a year ago. Revenue was USD 1,896.64 million compared to USD 1,845.33 million a year ago. Net income was USD 67.59 million compared to USD 122.32 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 1.03 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 1.03 a year ago.
CoreCivic, Inc. is a diversified, government-solutions company. The Company provides a broad range of solutions to government partners that serve the public good through corrections and detention management. Its segments include CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. CoreCivic Safety segment consists of approximately 43 correctional and detention facilities that are owned, or controlled via a long-term lease, and managed by CoreCivic, as well as those correctional and detention facilities owned by third parties but managed by CoreCivic. CoreCivic Safety also includes the operating results of its subsidiary that provides transportation services to governmental agencies, TransCor America, LLC. CoreCivic Community segment consists of the residential reentry centers that are owned, or controlled via a long-term lease, and managed by CoreCivic. CoreCivic Properties segment consists of the real estate properties owned by CoreCivic and leased to government agencies.