Gregory Gibas

Joseph Gomes

Kirk Ludtke

Marla Marin

Benjamin Briggs

James McCanless

Jason Weaver

Brian Violino

Greg Gibas

Jay McCanless

Joe Gomes

Jordan Hymowitz

Jordon Hymowitz

Mason Bourne

M. Marin

Raj Sharma

- CoreCivic reported **$2 billion** in revenue and **$331 million** in adjusted EBITDA for **2024**, and provided **2025 adjusted EBITDA guidance of $368 million**, an **11% increase** from 2024.  **[0001070985_2174194_1]** **[0001070985_2174194_4]** 
- The company is reactivating **five previously idle facilities**, adding **8,800 beds** and an anticipated **$500 million in revenue**, which is expected to drive strong growth in **2026**.  **[0001070985_2174194_2]** **[0001070985_2174194_4]** 
- CoreCivic has reduced its debt by **$1.3 billion** since June 2020, achieving a leverage ratio of **2.3 times** at the end of **Q2 2025**, and has **$347 million in liquidity**.  **[0001070985_2174194_4]** 
- The company has a **$500 million share repurchase authorization**, having bought back **$81 million** in the first half of **2025**, with **$237.9 million remaining** as of **June 30, 2025**.  **[0001070985_2174194_4]** 
- **Patrick Swindle** will succeed Damon Hininger as CEO on **January 1, 2026**, following his promotion to President on **January 1, 2025**.  **[0001070985_2174194_5]**

CoreCivic Provides 2024 Financials, 2025 Guidance, and Strategic Updates

- CoreCivic (CXW) reported **2024 revenues of approximately $2 billion** and **adjusted EBITDA of $330.8 million**, with total assets of about **$2.9 billion**.  **[1070985_2162705_1]**  The company operates 70 correctional, detention, and reentry facilities in the U.S., with **51% of its revenue** derived from federal government agencies, including the U.S. Immigration and Customs Enforcement (ICE) and the U.S. Marshals Service.  **[1070985_2162705_1]** 
- A significant growth opportunity is presented by the "One Big Beautiful Bill Act" (July 2025), which appropriated funds to increase ICE detention capacity from approximately 50,000 to **100,000 beds**.  **[1070985_2162705_3]**  CoreCivic has **13,419 beds in idle facilities** and **3,239 unused beds in operational facilities** that could be activated to meet this demand, with the potential to generate an additional **$200 million to $225 million in EBITDA**.  **[1070985_2162705_3]** **[1070985_2162705_4]** 
- The company has demonstrated strong financial discipline, repaying approximately **$1.3 billion of debt** since August 2020 through June 30, 2025, and maintaining a leverage ratio of **2.3 times** net debt to adjusted EBITDA as of Q2 2025.  **[1070985_2162705_4]** **[1070985_2162705_5]** 
- CoreCivic maintains a **97% contract renewal rate** over the past five years and reported **$347 million in liquidity** as of June 30, 2025.  **[1070985_2162705_4]** **[1070985_2162705_5]**  This financial flexibility supports M&A activities, such as the **$67 million acquisition** of the Farmville Detention Center on July 1, and share repurchases, with **$237.9 million remaining** under its authorization as of June 30, 2025.  **[1070985_2162705_5]**

CoreCivic Highlights 2024 Financials and ICE Detention Growth Opportunities

- CoreCivic has been awarded two new contracts by U.S. Immigration and Customs Enforcement (ICE) for a total of **3,593 beds** across two facilities, with an expected combined annual revenue of nearly **$200 million** once fully activated.  **[1070985_5f99e72137ce4c08acde4c17b7ba59ff_0]** **[1070985_5f99e72137ce4c08acde4c17b7ba59ff_1]** 
- The **California City Immigration Processing Center** (2,560 beds) is expected to generate approximately **$130 million** in annual revenue, with full activation anticipated by **Q1 2026** and a normalized run-rate by **Q2 2026**. Its contract is effective **September 1, 2025**, and expires in **August 2027**.  **[1070985_5f99e72137ce4c08acde4c17b7ba59ff_0]** 
- The **Midwest Regional Reception Center** (1,033 beds) is expected to generate approximately **$60 million** in annual revenue, with its 24-month contract commencing on **September 7, 2025**. However, the intake process is currently delayed by **legal challenges**, making the timing of full activation uncertain.  **[1070985_5f99e72137ce4c08acde4c17b7ba59ff_0]**

CoreCivic Secures New ICE Contracts for Two Facilities