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    Marla Marin • Zacks Investment Research

    Marla Marin's questions to CoreCivic Inc (CXW) leadership

    Marla Marin's questions to CoreCivic Inc (CXW) leadership • Q1 2025

    Question

    Marla Marin of Zacks Investment Research questioned how much room CoreCivic has to negotiate higher per diem rates before losing its cost advantage and asked which other idle facilities are strategically located and attractive to government partners like ICE.

    Answer

    CEO Damon Hininger explained that CoreCivic remains highly cost-competitive compared to city/county rates, federal alternatives, and potential international options. CFO David Garfinkle added that their existing, built-out capacity provides a significant price advantage. Hininger identified idle facilities in Tennessee (near Memphis), Oklahoma (large, centrally located), and Colorado (serving the western U.S.) as the most attractive next options for ICE.

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    Marla Marin's questions to CoreCivic Inc (CXW) leadership • Q4 2024

    Question

    Marla Marin asked about the low-cost initiatives CoreCivic could undertake in advance of a contract award to shorten the start-up time for an idle facility. She also inquired if the South Texas facility would require significant retrofitting to operate under a more standard contract model.

    Answer

    President Patrick Swindle explained that CoreCivic has already formed an internal activation team and is performing pre-activation work, creating project plans, and preparing leadership and training teams to shorten the typical 4-6 month timeline, potentially by 2-3 months in high-priority locations. CEO Damon Hininger stated that any retrofitting for the South Texas facility would be "very modest" as it was only recently deactivated.

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    Marla Marin's questions to CoreCivic Inc (CXW) leadership • Q3 2024

    Question

    Marla Marin inquired about the typical timeline from a Request for Information (RFI) to a Request for Proposal (RFP) for detention capacity and asked if staffing for new contract awards would require new hiring or if personnel were already in the pipeline.

    Answer

    CEO Damon T. Hininger explained that while there is no standard timeline, ICE can move very quickly, citing the 120-day activation of the South Texas facility as an example of their ability to expedite the process when needed. CFO David Garfinkle added that a typical RFI-to-RFP process might take six months but could be accelerated. Regarding staffing, Hininger stated that CoreCivic has a 'playbook' and populated pipelines ready to scale up hiring, with associated costs being part of the start-up expenses for new contracts. Garfinkle clarified they have not hired in advance for idle facilities but could absorb 1,500-2,000 additional people in currently operational facilities.

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