CXW earnings analysis
What we found in CXW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
CoreCivic's Q1 2026 results demonstrated significant growth, outperforming revenue and EPS expectations with revenues of $614.7 million and diluted EPS of $0.38. The company benefitted from increased demand from federal contracts, particularly in relation to ICE, resulting in expanded operations and increased average compensated population.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Q1 Revenue Surged
- Total revenue for Q1 2026 reached $614.7 million, a 25.8% increase from $488.6 million in Q1 2025.
- EPS Beat Estimates
- Reported diluted EPS was $0.38, significantly up from $0.23 in Q1 2025, marking a 65.2% increase.
- Strong Federal Revenue Growth
- Federal management revenue increased 48.4% to $358.1 million, reflecting higher occupancy rates.
- Positive Operating Margin Improvement
- Operating margin improved to 24.0% in Q1 2026, compared to 23.6% in Q1 2025.
- CoreCivic Safety Segment Growth
- CoreCivic Safety revenue rose by 27.2% to $577.9 million, driven by increased operational capacity.
- Acquisition Contributes to Growth
- The acquisition of Clinical Solutions Pharmacy is expected to diversify cash flows and enhance operational capabilities.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Operating Expenses
- Operating expenses increased by 25.2% to $467.7 million amid heightened staffing costs and new facility activations.
- Dependence on Federal Contracts
- Reliance on federal contracts poses a risk if demand decreases due to changes in immigration policy or government funding.
- Litigation Risks Related to Facilities
- Ongoing litigation at the California City Facility may affect operational capacity and financial performance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.38
- Operating margin
- 24.0%
- Segment
- CoreCivic Safety
- Segment
- CoreCivic Community
- Segment
- CoreCivic Properties
What they said about what is next.
Management anticipates continued demand growth from ICE and additional federal contracts may further improve operational capacity.
The filing reads better than the one before it.
What came before.
- 10-K · February 20, 2026
- CoreCivic presents evidence of near-term demand tailwinds from federal policy and appropriations (notably the Laken Riley Act and the OBBBA appropriation) that drove activations of idle facilities and higher occupancy…
- 10-Q · May 8, 2025
- CoreCivic reported quarterly revenue of $488,627,000 (three months ended March 31, 2025) versus $500,686,000 a year ago, a decline of $12,059,000. Net income improved to $25,113,000 (diluted EPS $0.23) from $9,543,000…
- 10-Q · August 8, 2024
- CoreCivic reported Q2 revenue of $490,109,000 (up from $463,682,000 in Q2 2023) and diluted EPS of $0.17 (up from $0.13). Operating income improved to $48,319,000 (operating margin ~9.9%) and cash flow from operations…
- 10-Q · May 9, 2024
- CoreCivic reported Q1 revenue of $500,686,000 (up $42,684,000, +9.3% vs. Q1 2023) with operating income roughly $54,388,000 (operating margin ~10.9%, up ~220 bps y/y). Net income was $9,543,000 (diluted EPS $0.08)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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