CoreCivic Reports Third Quarter 2026 Financial Results
Globe Newswire•04/11/2026•16:15 ET
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Key Highlights
- ➤Adjusted diluted EPS $0.49, up 104.2% year over year
- ➤Facility sales generated $2.2 billion proceeds and approximately $1.8 billion gain
- ➤Debt repayments exceeded $700 million, reducing net leverage to (0.1)x
- ➤Board added $500 million, raising share repurchase authorization to $1.7 billion
- ➤Residential occupancy increased to 84.0% from 76.7% year over year
Expert Statements
Lucibeth Mayberry, President and Chief Executive Officer of CoreCivic
“We delivered strong financial results in a very active quarter, driven by increased demand for our services from U.S. Immigration and Customs Enforcement (ICE), including higher utilization of recently activated facilities, as well as the contribution from our acquisition of Clinical Solutions Pharmacy earlier this year. Our capital allocation strategy also contributed to improved results through lower interest expense and a reduction in weighted average shares outstanding, which benefited our per share earnings and valuation metrics.”
Lucibeth Mayberry, President and Chief Executive Officer of CoreCivic
“The sale of four detention facilities to the federal government during the third quarter generated total gross proceeds of $2.2 billion and a $1.8 billion aggregate gain on sale of real estate assets. We used a portion of the net proceeds after income taxes and transaction costs, amounting to $1.6 billion, to repay over $700.0 million of debt and to make a payment of $500.0 million under an ASR. Our balance sheet has improved meaningfully and provides us significant flexibility with both our capital allocation strategy and growth plans. The board's decision to further expand the share repurchase authorization by $500.0 million underscores our commitment to that strategy and reflects confidence in our ability to generate long-term shareholder value.”
Lucibeth Mayberry, President and Chief Executive Officer of CoreCivic
“This quarter also marked a significant leadership transition following Patrick Swindle's decision to step down as President and Chief Executive Officer due to health reasons. This was a difficult development for the CoreCivic team. We are thankful for Patrick's leadership and dedication during his 19 years of service with CoreCivic and that he will continue to be a trusted advisor to me. As I assume this role, I remain committed to executing our strategy, which remains unchanged, delivering high-quality services for our government partners and generating long-term shareholder value.”
Strong Financial Performance Propelled by Facility Sales And Occupancy Gains $500 Million Accelerated Share Repurchase Agreement amplifies Per Share Growth Board of Directors Expands Share Repurchase Authorization By An Additional $500 Million
BRENTWOOD, Tenn., Nov. 04, 2026 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (CoreCivic or the Company) announced today its third quarter 2026 financial results.
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