CoreCivic Q4 FFO Increases

(RTTNews) - CoreCivic, Inc. (CXW), Wednesday announced an increase in its Funds from Operations or FFO for fourth quarter.

FFO rose to $51.01 million or $0.44 per share compared to last year's $48.7 million or $0.42 per share.

Earnings stood at $26.4 million or $0.23 per share versus $24.4 million or $0.21 per share prior year.

On adjusted basis, profit increased to $26.4 million or $0.23 per share from $25.02 million or $0.22 per share last year.

On average, analysts polled by Thomson Reuters estimated a profit of $0.18 for the fourth quarter.

Revenue increased to $491.2 million from $471.4 million last year.

Looking forward, the company expects earnings of $65 million to $80 million and FFO of $1.46 to $1.61 per share for fiscal year 2024.