CCA Q2 Profit Tops Estimates; Updates 2015 Guidance - Quick Facts

(RTTNews) - Corrections Corporation of America (CXW), America's largest owner of partnership correctional and detention facilities, reported second quarter net income of $65.3 million, or $0.55 per share, compared to $55.7 million, or $0.48 per share, in the second quarter of 2014.

FFO was $87.5 million, or $0.74 per share, compared to $79.4 million, or $0.68 per share, during the second quarter of 2014. Adjusted Funds From Operations was $86.0 million, or $0.73 per share, for the quarter.

On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.68 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $459.3 million compared to $410.7 million in the second quarter of 2014. Analysts expected revenue of $434.60 million for the quarter.

The company currently expects adjusted EPS for the third quarter to be in the range of $0.43 to $0.45, while Normalized FFO and AFFO per share are expected to be in the range of $0.62 to $0.64 and $0.60 to $0.61, respectively. Analysts expect the company to report earnings per share of $0.66.

For the full year 2015, the company now expect adjusted EPS to be in the range of $1.91 to $1.97, while Normalized FFO and AFFO per share are now expected to be in the range of $2.64 to $2.71 and $2.59 to $2.65, respectively. Analysts expect the company to report earnings per share of $2.66.