Quarterly ResultAug 5, 2026, 04:18 PM
CoreCivic Sells 4 Facilities for $2.2B; Expands Buyback by $500M
AI Summary
CoreCivic announced strong second quarter 2026 financial results, driven by facility activations and higher populations. Subsequent to quarter-end, the company sold four detention facilities for $2.2 billion in gross proceeds, resulting in an aggregate gain of $1.8 billion, significantly strengthening its balance sheet. The Board of Directors also expanded the share repurchase authorization by an additional $500 million, bringing the total authorization to $1.2 billion, and the company used proceeds from the sales to repay $1.1 billion in debt. Full-year 2026 guidance was updated to reflect these strategic actions.
Key Highlights
- Sold four facilities for $2.2 billion gross proceeds, realizing an aggregate gain of $1.8 billion.
- Board expanded share repurchase authorization by $500 million, totaling $1.2 billion.
- Q2 2026 total revenue increased 27.3% to $684.9 million.
- Q2 2026 diluted EPS was $0.37, up 5.7% year-over-year.
- Q2 2026 Adjusted EBITDA increased 5.9% to $109.4 million.
- Repaid $1.1 billion of debt, including $238.5 million of 2027 Notes.
- Updated 2026 full-year diluted EPS guidance to $15.00-$15.20.
- Updated 2026 full-year Adjusted EBITDA guidance to $440.5M-$445.5M.
Price Impact
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