CoreCivic, Inc. (CXW) Q3 2024 Earnings Call Transcript Summary
CoreCivic, Inc. (CXW) Q3 2024 Earnings Call Transcript Summary
Adjusted EBITDA increased to $83.3 million, up from $75.2 million in the prior year quarter.The following is a summary of the CoreCivic, Inc. (CXW) Q3 2024 Earnings Call Transcript:
以下是CoreCivic, Inc. (CXW) 2024年第三季度業績會交流摘要：
Financial Performance:
財務表現：
CoreCivic reported Q3 2024 revenue of $491.6 million, a 2% increase from the previous year, driven by higher occupancy and revenue from new state contracts with Wyoming and Montana.
Normalized FFO for Q3 2024 was $47.6 million, or $0.43 per share, a 23% increase per share year-over-year, attributed to higher revenues and lower interest expenses.
Adjusted EBITDA increased to $83.3 million, up from $75.2 million in the prior year quarter.
CoreCivic報告2024年第三季度營業收入爲49160萬美元，比去年同期增長2%，受到更高的入住率以及來自懷俄明州和蒙大拿州新州合同的收入推動。
2024年第三季度標準化基金運營收入爲4760萬美元，每股0.43美元，每股同比增長23%，這歸因於營收增加和利息支出降低。
調整後的EBITDA從上一年同期的7520萬美元增至8330萬美元。
Business Progress:
業務進展：
Notable revenue growth excluded the South Texas Family Residential Center due to its closure.
New management contracts with Hinds County, Mississippi, and Harris County, Texas contributed to a 39% increase in local revenue in the Safety and Community segments.
CoreCivic continues to focus on labor attraction and retention, improving operational and financial metrics post-COVID-19 staffing challenges.
Achieved a leverage target of 2.2x trailing 12-month adjusted EBITDA, reflecting disciplined cost management and sound financial strategies.
由於關閉南德克薩斯家庭住宅中心，顯著的營收增長不包括在內。
與密西西比州欣斯縣和得克薩斯州賀錦麗縣的新管理合同，爲安全和社區業務部門的本地收入增長39%做出了貢獻。
CoreCivic繼續專注於勞動力吸引和留任，改善在COVID-19後期工作人員挑戰後的運營和財務指標。
實現了2.2倍的調整後的過去12個月EBITDA槓桿率目標，反映了有紀律的成本管理和穩健的財務策略。
Opportunities:
機會：
CoreCivic has positioned itself to respond to potentially increased demand from ICE following recent policy changes and signaled intentions for expanding detention capacities, anticipating RFPs in early 2025 based on engagement through RFIs.
Continued strong relationship and new contract awards with the state of Montana as well as active discussions with several state and federal partners indicate potential growth and facility activations.
CoreCivic已經做好準備，以響應ICE可能增加的需求，這是根據最近的政策變化和擴展拘留能力的意向信號，預計在2025年初基於通過RFIs的參與展開招標申請。
與蒙大拿州持續強大的關係和新合同獎項以及與幾個州和聯邦合作伙伴進行的積極討論表明潛在增長和設施激活。
Risks:
風險：
The recent termination of contracts like the South Texas Family Residential Center and the California City Correctional Center could impact future revenue streams and operational scaling.
Uncertainties during the election year may delay procurements, affecting planned expansions and financial projections.
像南德克薩斯家庭拘留中心和加利福尼亞城市監獄中心等合同的最近終止可能影響未來的營業收入和運營規模。
選舉年期間的不確定性可能會延遲採購，影響計劃中的擴張和財務預測。
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：如需更全面的詳情，請參閱投資人關係網站。本文僅供投資者參考，不作任何指引或建議。
譯文內容由第三人軟體翻譯。
