Hits Leverage Ratio Early. At quarter's end, the leverage ratio was 2.7x, at the top end of the Company's 2.25-2.75x goal, down from 3.2x at the end of 2Q21 and down from 4.0x at the end of 3Q20. The target was achieved roughly nine months sooner than we had expected highlighting not only management's focus on reducing net debt, but the overall resiliency of the business model.
Debt Reduction. CoreCivic repaid $187.5 million of debt in 3Q21, net of the change in cash, including fully paying off its revolving credit facility, which remains undrawn. Subsequent to quarter's end, the Company paid down $90 million, or 40%, of its Term B loan using cash on hand. CoreCivic ended the quarter with $455.5 million of cash ...
Full Report: https://channelchek.com/news-channel/CoreCivic__Inc.__CXW____A_Debt_Paydown_Machine…
Hello Everybody,
I thought I would make this my first post discussing a breakdown between GEO and CXW using the EV/EBITDA ratio. I know this ratio is just an estimation and I can be right or wrong about it but it is a great ratio to use in the beginning to see if a stock is trading undervalue or overvalue between its peers. In addition, plenty of famous hedge fund managers like 'Michael Burry use the EV/EBITDA ratio and I advise plenty of you to learn it and use it in your future investments. Lastly, we are all well aware that Michael Burry use to own GEO and is still invested in CXW based on his latest 13-F filing.
See below screenshot of the formula breakdown of EV and EBITDA. As well as the comparative analysis between GEO and CXW. As we can see the EV/EBITDA ratio for GEO in 2020 was at 14.31 and the average EV/EBITDA in 2020 was 13.55. Meaning that GEO was overvalue based on the average EV/EBITDA. Also if you find any errors or have any recommendations please add your comments.
CoreCivic announced that it has entered into a new three-year lease agreementwith the State of New Mexico at the Company's 596-bed Northwest New Mexico Correctional Center
Presentation found here : http://ir.corecivic.com/static-files/0b734cfd-72c2-4fd0-b02f-05c957345174
Lots of interesting information regarding the prison system. Highly suggest giving it a read.
Hi. Ich bin noch relativ neu dabei und wollte mal hören, was ihr von diesen beiden Aktien haltet als langfristiges Investment. Danke für eure Antworten
CoreCivic announced its financial results for the second quarter of 2021
See today's research report from Joe Gomes, Senior Research Analyst at Noble Capital Markets
CoreCivic CEO Damon Hininger and CFO David Garfinkle make a formal corporate presentation. Afterwards, they are joined by Noble Capital Markets Senior Research Analyst Joe Gomes for a Q & A session featuring questions asked by the live audience throughout the event.
About CoreCivic
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.
ICE Populations and Revenue Climbing. ICE populations at CoreCivic have roughly doubled since the beginning of the year. We would note that revenue derived from ICE in the second quarter was $139.6 million, up from $135.7 million in the same period last year, and up from $131.5 million in the first quarter. Management stated that ICE populations overall remained about 2,200 below the contract minimums, although this is down from 3,200 at the end of the first quarter.
Safety Segment Improving. Safety segment revenue declined modestly to $419.9 million from $424.1 million. Safety's facility net operating income, however, increased to $112.6 million from $100.4 million during the second quarter of 2020. Increased per diem rates and lower COVID related operating expenses drove the improvement. Revenue per compensated man day rose to $90.88 in the quarter, up from ...
Asset Sale. CoreCivic completed the sale of the remaining three non-core real estate assets: the 541,000 sq. ft. Social Security Administration building, the 277,000 sq. ft. Capital Commerce Center, and the 217,000 sq. ft. NARA Property. The aggregate sales price was $326 million. The Company had purchased the three buildings in 2018 for an aggregate gross purchase price of $293.6 million.
Net Proceeds. CoreCivic used $194.4 million of the sales proceeds to fully repay non-recourse mortgage notes associated with the SSA and Capital Commerce Center. The amount includes $32.5 million of prepayment premiums. Combining the net proceeds of $130 million with the nearly $30 million of net proceeds from earlier non-core sales, the Company exceeded its $150 net proceeds goal. The net proceeds...
Hi all,
I'm looking through Burry's stock changes in the last 13F, and decided to compare the two prison REITs. A key performance indicator seems to be operating income per "compensated man-day", which is how much income the companies make per day per occupied bed.
In the CoreCivic 10k for 2020, they explicitly show a 21.06 (CoreCivic Safety) operating income per compensated man-day .
For the Geo group, the same calculation needs to be derived. I took the 2020 U.S. Secure Services operating income of 298,952 and divided it by 21.7M (number of compensated mandays in GEO Secure Services facilities), and got 13.78.
It seems like CoreCivic makes 100*(21.06/13.78 - 1) = 53% more operating income per compensated man-day than The Geo Group. Has anyone drawn the same conclusion? Thanks
$CXW CoreCivic stock back to 10.51 gap support area with bullish stats , see https://stockconsultant.com/?CXW
#finance #money #wallstreet #stockmarket #stocks
CoreCivic announced that it will release its 2021 second quarter financial results after the market closes on Monday, August 9, 2021
CoreCivic CEO Damon Hininger and CFO David Garfinkle make a formal corporate presentation. Afterwards, they are joined by Noble Capital Markets Senior Research Analyst Joe Gomes for a Q & A session featuring questions asked by the live audience throughout the event.
About CoreCivic
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.
