CXW: Preview 1Q24 Results; Expect Recent Positive Trends Continue

Zacks Small Cap Research05-03

By M. Marin NYSE:CXW READ THE FULL CXW RESEARCH REPORT 1Q24 results after market close May 8, 2024 … CoreCivic (NYSE:CXW) will report 1Q24 results after market close on May 8, 2024 and host a ...

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Marin\n NYSE:CXW\nREAD THE FULL CXW RESEARCH REPORT\n1Q24 results after market close May 8, 2024 … \nCoreCivic (NYSE:CXW) will report 1Q24 results after market close on May 8, 2024 and host a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cxw-preview-1q24-results-expect-112800793.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CXW: Preview 1Q24 Results; Expect Recent Positive Trends Continue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCXW: Preview 1Q24 Results; Expect Recent Positive Trends Continue\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-03 19:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/cxw-preview-1q24-results-expect-112800793.html><strong>Zacks Small Cap Research</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By M. Marin\n NYSE:CXW\nREAD THE FULL CXW RESEARCH REPORT\n1Q24 results after market close May 8, 2024 … \nCoreCivic (NYSE:CXW) will report 1Q24 results after market close on May 8, 2024 and host a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cxw-preview-1q24-results-expect-112800793.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CXW","symbol_name":"美国惩教公司","start_time":0,"source_url":"https://finance.yahoo.com/news/cxw-preview-1q24-results-expect-112800793.html","article_id":"2432390702","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Ms4uDPGG6q23El5MDqxHqw--~B/aD01NzA7dz0xMjcwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/scr.zacks.com/608b12cde66252a02a01c11b3ab1416a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432390702","pubTimestamp":1714735680,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"1Q24 results after market close May 8, 2024 …Moreover, CXW is engaged in discussions with multiple government entities. At the same time, renewal rates remain high, reflecting the limited supply of and older state of many government owned correctional facilities, the programs the company offers inmates and the cost effectiveness of its services, among other factors. Over the past 5-years, renewal rates on owned and controlled facilities is 95%.DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research cov","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CXW":"美国惩教公司","BK4165":"安全和报警服务"},"translate_title":"CXW：预览2024年第一季度结果；预期近期的积极趋势将继续","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CXW":1},"content_text":"By M. Marin\n NYSE:CXW\nREAD THE FULL CXW RESEARCH REPORT\n1Q24 results after market close May 8, 2024 … \nCoreCivic (NYSE:CXW) will report 1Q24 results after market close on May 8, 2024 and host a conference call at 10:00 a.m. CT / 11:00 a.m. ET on May 9, 2024. We forecast 1Q24 revenue of $474.2 million compared to $458.0 million in 1Q23, an expected 3.5% year-over-year advance. The consensus estimate is $477.9 million. On the higher projected revenue, we model EPS of $0.12 compared to $0.11 in 1Q23 and consensus of $0.15. Sequentially, 1Q generally is seasonally weaker compared to 4Q because it contains one fewer day and generally reflects higher utilities and unemployment taxes. We believe recent momentum in the company’s business reflect positive trends, including rising average compensated occupancies at CXW facilities and normalizing costs. We are optimistic about operating improvements going forward. \nMultiple contracts closed in recent months; talks for new contracts ongoing …\nMoreover, CXW is engaged in discussions with multiple government entities. At the same time, renewal rates remain high, reflecting the limited supply of and older state of many government owned correctional facilities, the programs the company offers inmates and the cost effectiveness of its services, among other factors. Over the past 5-years, renewal rates on owned and controlled facilities is 95%. \nIn our view, the company’s strong pipeline and recent new business wins or contract extensions reflect CXW’s ability to provide flexible capacity to government customers, which is leading to strong pipeline and multiple recent contract signings. \nStrengthening balance sheet include recently completed debt issuance to extend maturities \nSeparately, the company has strengthened its balance sheet significantly since initiating its deleveraging goals in 2020, reducing debt by more than $1.1 billion since then, and recently completed a debt issuance to extend maturities. Demand for CXW’s notes strong and the amount of notes offered was upsized. The company priced an aggregate $500 million principal of 8.25% senior notes due 2029. The aggregate principal amount had been increased from a previously announced $450 million. The proceeds were earmarked to redeem $593.1 million of outstanding 2026 notes, among other uses. We view it as a positive that, even with the uncertain interest rate and economic outlook, CXW has maintained its cost of capital on senior notes at 8.25%. Reflecting its measures, the company has no major debt maturities before 2029 other than some $262 million 4.75% notes maturing in 2027. \n\nSUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR. \n \nDISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432390702"}