Quarterly ResultMay 6, 2026, 04:13 PM
CoreCivic Q1 Net Income $37.9M; Acquires CSP; Raises 2026 Guidance
AI Summary
CoreCivic reported strong first quarter 2026 financial results, driven by the activation of four previously idled facilities and increased demand from government partners. The company announced the acquisition of Clinical Solutions Pharmacy (CSP) for approximately $148.0 million, aiming to diversify cash flows and expand into a complementary business. Following these developments, CoreCivic increased its full-year 2026 financial guidance, despite a temporary decrease in nationwide ICE populations.
Key Highlights
- Acquired Clinical Solutions Pharmacy (CSP) for approximately $148.0 million, diversifying cash flows.
- Reported Q1 2026 total revenue of $614.7 million, a 25.8% increase from prior year quarter.
- Achieved Q1 2026 net income of $37.9 million, up 51.0% year-over-year.
- Diluted EPS for Q1 2026 was $0.38, a 65.2% increase from the prior year.
- Adjusted Diluted EPS for Q1 2026 was $0.40, a 73.9% increase from the prior year.
- Repurchased 2.3 million shares of common stock at an aggregate cost of $44.7 million.
- Increased 2026 full-year Adjusted Diluted EPS guidance to $1.53-$1.63 from $1.49-$1.59.
- Obtained a $100 million incremental term loan to maintain strong liquidity.