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Earnings Call Summary | CoreCivic, Inc.(CXW.US) Q1 2024 Earnings Conference

Earnings Call Summary | CoreCivic, Inc.(CXW.US) Q1 2024 Earnings Conference

業績電話會議摘要 | CoreCivic, Inc. (CXW.US) 2024 年第一季度業績會議
富途資訊 ·  05/10 06:03  · 電話會議

The following is a summary of the CoreCivic, Inc. (CXW) Q1 2024 Earnings Call Transcript:

以下是CoreCivic, Inc.(CXW)2024年第一季度業績電話會議記錄摘要:

Financial Performance:

財務業績:

  • CoreCivic reported Q1 2024 revenue of over $500 million, an increase of 9% compared to Q1 2023.

  • Normalized FFO was $52.6 million or $0.46 per share, showing a per share increase of 35% from the previous year.

  • The increase in FFO was driven by increased population across federal, state, and local partnerships.

  • There were increases in revenue from federal, state, and local partners by 11%, 5% and 44% respectively.

  • Investments in stock repurchases were accelerated, with 2.7 million shares repurchased at a cost of nearly $40 million.

  • CoreCivic reported no debt maturities until 2027, currently holding a debt of $243.1 million with a 4.75% rate.

  • CoreCivic報告稱,2024年第一季度收入超過5億美元,與2023年第一季度相比增長了9%。

  • 正常化的FFO爲5,260萬美元,合每股0.46美元,比上年增長了35%。

  • FFO的增長是由聯邦、州和地方合作伙伴關係中人口的增加所推動的。

  • 來自聯邦、州和地方合作伙伴的收入分別增長了11%、5%和44%。

  • 股票回購投資得到加速,回購了270萬股股票,耗資近4000萬美元。

  • CoreCivic報告稱,直到2027年才有債務到期,目前持有的債務爲2.431億美元,利率爲4.75%。

Business Progress:

業務進展:

  • Successful ramp-up of four new contracts from Q3 and Q4 of 2023 contributed to growth in occupancy and revenue.

  • Improved staffing levels have allowed for better management of higher population needs.

  • Occupancy rates in the Safety and Community segments have increased from 71% to 76% and 59% to 63% respectively.

  • There is a positive future outlook on the company's federal, state, and local businesses with discussions to address near to long-term challenges.

  • Expected increase in state and local residential populations, and average daily federal populations due to new contracts.

  • Potential upgrades are being considered for their ICE facility. This could cost from minimal to around $15-20 million.

  • Observes increased demand from state and local partners and foresees further cooperation with the State of California.

  • CoreCivic aims for a 25% NOI margin in the Safety and Community segments combined and plans to return to pre-pandemic staffing levels.

  • 從2023年第三季度和第四季度成功簽訂了四份新合同,這促進了入住率和收入的增長。

  • 人員配置水平的提高使人們能夠更好地管理更高的人口需求。

  • 安全和社區領域的入住率分別從71%增加到76%,從59%增加到63%。

  • 公司的聯邦、州和地方企業未來前景樂觀,正在討論如何應對近期的長期挑戰。

  • 由於新合同,預計州和地方居民人口以及平均每日聯邦人口將增加。

  • 正在考慮對其ICE設施進行可能的升級。這可能要花費最低到1500萬至2,000萬美元左右。

  • 觀察到州和地方合作伙伴的需求增加,並預計將與加利福尼亞州進一步合作。

  • CoreCivic的目標是將安全和社區領域的總淨資產利潤率提高25%,並計劃恢復到疫情前的人員配備水平。

More details: CoreCivic, Inc. IR

更多詳情: CoreCivic, Inc. IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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