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Reported Earlier, CoreCivic Faces Contract Termination By ICE For South Texas Family Residential Center, Suspends 2024 Financial Guidance And Projects Earnings Drop Of $0.38-$0.4

Author: Benzinga Newsdesk | June 11, 2024 03:12am

For the year ended December 31, 2023, and for the quarter ended March 31, 2024, total revenues at the Facility were $156.6 million and $39.3 million, respectively. Given that the notice of termination was received today and based on cost uncertainties associated with the closure, CoreCivic is suspending its financial guidance for 2024. However, we estimate the annualized financial impact to be a reduction to earnings per share of approximately $0.38 to $0.41.

Posted In: CXW