| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 684.92 | 11.4% | 27.3% |
| Total Income | 684.92 | 11.4% | 27.3% |
| Expenditure | 615.92 | 13.1% | 30.1% |
| PBT | 47.51 | 9.2% | 9.1% |
| Net Profit | 37.14 | 2.1% | 3.6% |
| OPM | — | ||
| NPM | 5.42% | 0.75pp | 1.74pp |
| EPS | 0.38 | 0.0% | 8.6% |
CoreCivic Reports Q2 2026 Financial Results Driven by Facility Activations and Expands Share Repurchase Authorization
06 Aug 2026 · 6 Aug, 1:43 am
Summary
CoreCivic reported strong second quarter 2026 financial results, with total revenue increasing by 27.3% year-over-year to $684.9 million, driven by facility activations and higher populations from ICE. While net income slightly decreased to $37.1 million, diluted EPS saw a modest increase to $0.37. Adjusted EBITDA grew 5.9% to $109.4 million, and Normalized FFO per diluted share rose 8.5% to $0.64. The company also announced a significant expansion of its share repurchase program by $500 million and the sale of four facilities for $2.2 billion, which substantially strengthens its balance sheet and provides capital allocation flexibility.
Key Highlights
- 1
CoreCivic reported total revenue of $684.9 million for the second quarter of 2026, an increase of 27.3% compared to the prior year quarter.
- 2
Net income for the second quarter of 2026 was $37.1 million, or $0.37 per diluted share, compared to $38.5 million, or $0.35 per diluted share, in the prior year quarter.
- 3
Adjusted EBITDA increased by 5.9% to $109.4 million for the second quarter of 2026, compared to $103.3 million in the prior year quarter.
- 4
Normalized FFO per diluted share was $0.64 for the second quarter of 2026, an increase of 8.5% from the prior year quarter.
- 5
The company's Board of Directors authorized an additional $500 million increase to its existing share repurchase program, bringing the aggregate authorization to up to $1.2 billion.
- 6
Subsequent to quarter-end, CoreCivic sold four detention facilities for total gross proceeds of $2.2 billion, demonstrating the value of its real estate portfolio.
Management Comments
Patrick Swindle
Building upon the strength of a successful start to 2026, the second quarter financial results exceeded our expectations, driven by lower operating costs and slightly higher populations from U.S. Immigration and Customs Enforcement (ICE). While we are pleased with our financial performance compared with the prior year quarter, recall that the prior year quarter included the benefit of $11.6 million, or $0.08 per share, of Employee Retention Credits, along with interest thereon, available under the CARES Act, so our earnings would have reflected more pronounced growth after taking into consideration this benefit. We ended the quarter with leverage, measured as net debt to Adjusted EBITDA, at 2.9x for the trailing twelve months. Subsequent to quarter-end, we sold four of our detention facilities to our federal government partner for total gross proceeds of $2.2 billion, or $307,000 per bed, demonstrating the value of our real estate portfolio. The sale of these facilities substantially strengthens our balance sheet and provides us significant flexibility with our capital allocation strategy and growth plans. Further, the board’s decision to further expand the share repurchase authorization underscores our commitment to disciplined capital allocation and reflects confidence in our ability to generate long-term shareholder value.
Informational and educational content only. Not investment advice.