Reported Earlier, CoreCivic Faces Contract Termination By ICE For South Texas Family Residential Center, Suspends 2024 Financial Guidance And Projects Earnings Drop Of $0.38-$0.4
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CoreCivic faces contract termination by ICE for the South Texas Family Residential Center, leading to the suspension of its 2024 financial guidance and projecting an earnings drop of $0.38-$0.41 per share.
June 11, 2024 | 7:12 am
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CoreCivic (CXW) faces a significant financial impact due to the termination of its contract with ICE for the South Texas Family Residential Center. The company has suspended its 2024 financial guidance and projects an earnings drop of $0.38-$0.41 per share.
The termination of the ICE contract for the South Texas Family Residential Center is a significant event for CoreCivic, leading to the suspension of its 2024 financial guidance. The projected earnings drop of $0.38-$0.41 per share indicates a substantial negative financial impact, likely causing a short-term decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100