CoreCivic Q2 2024 Normalized FFO $0.42 Beats $0.35 Estimate, Sales $490.109M Beat $481.869M Estimate
Portfolio Pulse from Benzinga Newsdesk
CoreCivic (NYSE:CXW) reported Q2 2024 Normalized FFO of $0.42 per share, beating the analyst estimate of $0.35 by 20%. Sales were $490.109M, surpassing the $481.869M estimate. This represents a 27.27% increase in earnings and a 5.70% increase in sales compared to the same period last year.
August 07, 2024 | 8:05 pm
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POSITIVE IMPACT
CoreCivic reported strong Q2 2024 results with Normalized FFO of $0.42 per share, beating estimates by 20%. Sales also exceeded expectations, reaching $490.109M. This performance indicates robust financial health and growth.
The significant beat on both earnings and sales estimates, along with strong year-over-year growth, suggests positive investor sentiment and potential short-term price appreciation for CoreCivic.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100