CoreCivic Receives Termination Notice From U.S. Immigration and Customs Enforcement At South Texas Family Residential Center
CoreCivic, Inc. (CXW)
Last corecivic, inc. earnings: 2/12 04:15 pm
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US:NYSE Investor Relations:
ir.corecivic.com/investor-relations
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Source: GlobeNewswire
BRENTWOOD, Tenn., June 10, 2024 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) ("CoreCivic") received notification today from U.S. Immigration and Customs Enforcement ("ICE") that the agency intends to terminate an inter-governmental service agreement (“IGSA”) between CoreCivic and ICE for services at the South Texas Family Residential Center in Dilley, TX (the “Facility”) effective in 60 days, or on or about August 9, 2024. For the year ended December 31, 2023, and for the quarter ended March 31, 2024, total revenues at the Facility were $156.6 million and $39.3 million, respectively. Given that the notice of termination was received today and based on cost uncertainties associated with the closure, CoreCivic is suspending its financial guidance for 2024. However, we estimate the annualized financial impact to be a reduction to earnings per share of approximately $0.38 to $0.41. South Texas Family Residential Center was initially opened during the Obama-Biden administration
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- CXW: Revising Estimates; Believe CXW Relationship with ICE Remains Strong [Yahoo! Finance]Yahoo! Finance
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- CoreCivic, Inc. (NYSE: CXW) was downgraded by analysts at Wedbush from an "outperform" rating to a "neutral" rating. They now have a $14.00 price target on the stock, down previously from $19.00.MarketBeat
- CoreCivic, Inc. (NYSE:CXW) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- CXW: 1Q24 Beat Highlights Operating Leverage, Improving Occupancies [Yahoo! Finance]Yahoo! Finance
CXW
Earnings
- 5/8/24 - Miss
CXW
Sec Filings
- 6/12/24 - Form 8-K
- 6/12/24 - Form 11-K
- 5/22/24 - Form 4
- CXW's page on the SEC website