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CXW News
CXW Events
CoreCivic Appoints Lucibeth Mayberry as CEO
CoreCivic announced that the Board of Directors of the Company has appointed Lucibeth Mayberry as President and Chief Executive Officer of the Company. Patrick Swindle has resigned as President and Chief Executive Officer due to health reasons. Swindle has served as President and Chief Executive Officer since January 1, 2026, following his appointment as President and Chief Operating Officer on January 1, 2025. In addition, Swindle resigned from CoreCivic's Board, and Mayberry has been appointed to fill the vacancy.
CoreCivic Initiates $500M Share Repurchase Program
CoreCivic announced that has entered into an accelerated share repurchase agreement with a financial institution to repurchase $500M of the company's common stock, par value $0.01 per share, as part of its existing capacity of $755.8M under the company's recently announced expanded share repurchase program, which was approved by the company's board of directors on August 4. Upon completion of the ASR agreement, the company anticipates that approximately $255.8M of share repurchase authorization will remain available under the company's existing share repurchase program.
Swindle Cuts FY26 EBITDA Outlook to $440.5M
Consensus $1.64. Cuts FY26 adjusted EBITDA view to $440.5M-$445.5M from $453.8M-$461.8M. Swindle continued, "We ended the quarter with leverage, measured as net debt to Adjusted EBITDA, at 2.9x for the trailing twelve months. Subsequent to quarter-end, we sold four of our detention facilities to our federal government partner for total gross proceeds of $2.2 billion, or $307,000 per bed, demonstrating the value of our real estate portfolio. The sale of these facilities substantially strengthens our balance sheet and provides us significant flexibility with our capital allocation strategy and growth plans. Further, the board's decision to further expand the share repurchase authorization underscores our commitment to disciplined capital allocation and reflects confidence in our ability to generate long-term shareholder value."
CoreCivic Reports Q2 Revenue of $684.9M
Reports Q2 revenue $684.9M, consensus $618.63M. Patrick Swindle, CoreCivic's President and Chief Executive Officer, commented, "Building upon the strength of a successful start to 2026, the second quarter financial results exceeded our expectations, driven by lower operating costs and slightly higher populations from U.S. Immigration and Customs Enforcement. While we are pleased with our financial performance compared with the prior year quarter, recall that the prior year quarter included the benefit of $11.6 million, or $0.08 per share, of Employee Retention Credits, along with interest thereon, available under the CARES Act, so our earnings would have reflected more pronounced growth after taking into consideration this benefit."
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