| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 614.73 | 25.8% |
| Total Income | 614.73 | 25.8% |
| Expenditure | 544.73 | 23.4% |
| PBT | 52.31 | 63.0% |
| Net Profit | 37.92 | 51.0% |
| OPM | — | |
| NPM | 6.17% | 1.03pp |
| EPS | 0.38 | 65.2% |
CoreCivic Reports Q1 2026 Financial Results, Revenue Up 25.8% to $614.7 Million
07 May 2026 · 7 May, 1:43 am
Summary
CoreCivic, Inc. announced strong first quarter 2026 financial results, with total revenue climbing 25.8% year-over-year to $614.7 million, primarily driven by the activation of four previously idled facilities. Net income significantly increased by 51.0% to $37.9 million, resulting in diluted EPS of $0.38, a 65.2% rise. Adjusted EBITDA also saw robust growth, up 36.0% to $110.1 million. Subsequent to the quarter, the company acquired Clinical Solutions Pharmacy for approximately $148.0 million, a move expected to diversify cash flows and contribute to earnings. Reflecting these positive developments, CoreCivic raised its full-year 2026 guidance for key metrics, including Adjusted Diluted EPS, which is now projected to be between $1.53 and $1.63.
Key Highlights
- 1
Total revenue for the first quarter of 2026 increased by 25.8% from the prior year quarter, reaching $614.7 million.
- 2
Net Income for Q1 2026 grew significantly by 51.0% to $37.9 million.
- 3
Diluted Earnings Per Share (EPS) for the quarter rose by 65.2% to $0.38.
- 4
Adjusted EBITDA saw a substantial increase of 36.0% to $110.1 million in the first quarter of 2026.
- 5
The company repurchased 2.3 million shares of its common stock at an aggregate cost of $44.7 million during the first quarter.
- 6
Subsequent to quarter-end, CoreCivic acquired Clinical Solutions Pharmacy (CSP) for approximately $148.0 million, a move expected to contribute $0.03 to $0.05 per share to 2026 earnings.
- 7
Full-year 2026 guidance for Adjusted Diluted EPS was increased to a range of $1.53 to $1.63, up from the prior guidance of $1.49 to $1.59.
Management Comments
Patrick Swindle
Our strong first quarter financial results were driven by the activation of four previously idled facilities since the first quarter of 2025. We anticipate increased demand from our federal, state, and local government partners in the second half of the year after a recent downturn due to enforcement redeployments and overall strategy adjustments within the Department of Homeland Security (DHS). We are well-positioned to meet demand given our readily available capacity, in both existing and idle facilities. Consistent with CoreCivic’s strategy of allocating capital to high-return opportunities, subsequent to quarter-end we acquired Clinical Solutions Pharmacy (CSP), one of the largest providers of mail order pharmacy services to correctional facilities in the United States. This acquisition provides diversification of our cash flows in a complementary business and a growing market, and we are excited about the opportunities that lie ahead for CSP. Our balance sheet remains strong, supported by continued execution of our capital strategy. We ended the quarter with leverage, measured as net debt to Adjusted EBITDA, at 2.8x for the trailing twelve months. With the durability of our earnings and growth outlook, we were pleased to fortify our balance sheet with a $100 million incremental term loan subsequent to quarter-end. We obtained the incremental term loan to maintain our strong liquidity position, as we assess the debt capital markets and potential asset sales that could further enhance our liquidity, enabling us to continue to deploy capital in ways that we believe will create shareholder value.
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