Thursday, May 07, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. CoreCivic reported strong first quarter financial results, driven by the activation of four previously idled facilities since the first quarter of 2025. Notably, revenue from ICE grew 96.2% over the first quarter of 2025, reflecting the activation of the previously idle facilities and the acquisition of the Farmville Detention Center. Revenue from state customers increased 3.6% compared with the year-ago quarter, highlighted by per diem increases under a number of state contracts and population growth within the states of Georgia, Montana, and Colorado.
1Q26 Results. Revenue in 1Q26 totaled $614.7 million, up from $488.6 million in 1Q25. Reported net income was $37.9 million, or $0.38/sh, up from $25.1 million, or $0.23/sh, in 1Q25. Adjusted EPS increased to $0.40 from $0.23. Adjusted EBITDA in 1Q26 totaled $110.1 million, compared to $81 million last year.
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