Corporate ActionAug 5, 2026, 04:13 PM
CoreCivic Expands Share Buyback by $500M; Reports Q2 Results
AI Summary
CoreCivic, Inc. announced strong second-quarter 2026 financial results, with total revenue increasing by 27.3% year-over-year to $684.9 million and Adjusted Diluted EPS rising 5.6% to $0.38. The company's Board of Directors authorized an additional $500.0 million for its share repurchase program, bringing the total authorization to $1.2 billion, with $755.8 million remaining. Subsequent to quarter-end, CoreCivic completed the sale of four detention facilities for $2.2 billion in gross proceeds, using a portion to repay $608.5 million in debt. The company also updated its full-year 2026 guidance, reflecting these strategic capital allocation decisions.
Key Highlights
- Board authorized an additional $500.0 million for share repurchase program.
- Aggregate share repurchase authorization increased to $1.2 billion.
- Approximately $755.8 million remains under the share repurchase program.
- Q2 2026 Total Revenue was $684.9 million, up 27.3% YoY.
- Q2 2026 Net Income was $37.1 million, or $0.37 Diluted EPS.
- Q2 2026 Adjusted Diluted EPS was $0.38, up 5.6% YoY.
- Completed sales of four facilities for gross proceeds of $2.2 billion.
- Anticipate net proceeds of approximately $1.6 billion from facility sales.
- Repaid $608.5 million of debt, including $238.5 million of 2027 Notes.
- Updated 2026 Adjusted Diluted EPS guidance to $1.62 to $1.70.
Price Impact
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