Corecivic Intrinsic Value – CORECIVIC Reports Earnings Results for Second Quarter of FY2023
August 19, 2023
🌥️Earnings Overview
On August 8, 2023, CORECIVIC ($NYSE:CXW) announced their earnings results for the second quarter of FY 2023, which ended June 30, 2023. The total revenue for the quarter was USD 463.7 million, a 1.5% increase from the same period in the previous fiscal year. Net income also saw a significant 40.4% increase from the previous year and totaled USD 14.8 million.
Share Price
The stock opened at $9.8 and closed at $10.0, a 5.2% increase from its last closing price of 9.5. Earnings are expected to grow by 8-10%. The company also announced that it would be investing in new technology and infrastructure improvements to further optimize its operations. Overall, CORECIVIC‘s strong second quarter earnings results and positive outlook have investors and analysts optimistic about the company’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Corecivic. CORECIVIC_Reports_Earnings_Results_for_Second_Quarter_of_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 1.86k | 119.98 | 3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Corecivic. CORECIVIC_Reports_Earnings_Results_for_Second_Quarter_of_FY2023″>More…
| Operations | Investing | Financing |
| 185.14 | 74.16 | -331.61 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Corecivic. CORECIVIC_Reports_Earnings_Results_for_Second_Quarter_of_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.03k | 1.59k | 12.67 |
Key Ratios Snapshot
Some of the financial key ratios for Corecivic are shown below. CORECIVIC_Reports_Earnings_Results_for_Second_Quarter_of_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.9% | -12.9% | 13.1% |
| FCF Margin | ROE | ROA |
| 6.0% | 10.6% | 5.0% |
Analysis – Corecivic Intrinsic Value
At GoodWhale, we carefully analyzed the fundamentals of CORECIVIC and ran our proprietary Valuation Line to determine the fair value of their shares. We concluded that the fair value of CORECIVIC shares is around $10.4. Currently, CORECIVIC stock is traded at $10.0, which is a fairly priced stock that is undervalued by 4.1%. While this stock may be a good buy at the moment, we advise potential investors to remain cautious, as the market environment is highly uncertain. It’s always a good idea to do your own research before investing. More…
Peers
The Company operates through its subsidiaries, CoreCivic Properties and CoreCivic Communities. As of December 31, 2019, the Company owned or operated a portfolio of approximately 86,600 real estate assets with a gross book value of approximately $9.9 billion. The Company’s competitors include American Homes 4 Rent, Inland Real Estate Income Trust Inc, and Choice Properties Real Estate Investment Trust.
– American Homes 4 Rent ($NYSE:AMH)
American Homes 4 Rent is a real estate investment trust that acquires, renovates, leases, and manages single-family homes in the United States. As of December 31, 2020, the company owned 53,545 homes in 22 states.
– Inland Real Estate Income Trust Inc ($OTCPK:INRE)
Inland Real Estate Income Trust Inc is a real estate investment trust that focuses on generating income through investments in real estate. The company owns and operates a portfolio of properties, including office, retail, and multifamily properties. Inland Real Estate Income Trust Inc is headquartered in Oak Brook, Illinois.
– Choice Properties Real Estate Investment Trust ($TSX:CHP.UN)
Choice Properties Real Estate Investment Trust is a leading real estate investment trust in Canada. The company owns, manages and develops a diversified portfolio of commercial properties across the country. As of December 31, 2020, Choice Properties’ portfolio consisted of approximately 1,200 properties totaling approximately 178 million square feet of gross leasable area.
Summary
On August 8th, CORECIVIC reported their earnings results for the second quarter of FY2023, ending June 30th, 2023. Total revenue was up 1.5% to USD 463.7 million and net income was up 40.4% to USD 14.8 million. The company’s stock price responded positively to the news and moved up on the same day. Investors should take note of CORECIVIC’s promising Q2 performance and consider it as a potential investment opportunity.
The company’s increased revenue and profit indicate that the company is healthy and able to turn a profit despite the challenging economic environment. Furthermore, investors should keep an eye on CORECIVIC’s future financial performance to monitor whether the company can continue to deliver positive growth.
