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