Shares of CoreCivic, Inc. (NYSE: CXW) surged 6.11% in pre-market trading on Thursday, following the release of the company's impressive first-quarter 2025 financial results. The correctional facilities operator delivered a strong performance that exceeded analyst expectations, demonstrating resilience in a challenging economic environment.
CoreCivic reported quarterly earnings per share (EPS) of $0.23, significantly beating the analyst consensus estimate of $0.12. This represents a substantial improvement from the same quarter last year when the company reported EPS of $0.08. The company's revenue for the quarter came in at $488.63 million, surpassing analyst expectations of $478.49 million, despite a slight 2.4% decrease from the previous year.
Adding to the positive sentiment, CoreCivic provided an optimistic outlook for the full year 2025. The company expects funds from operations (FFO) per diluted share to range between $1.72 and $1.82, while projecting earnings per share (EPS) between $0.83 and $0.92. This forward-looking guidance suggests continued strength in CoreCivic's operations and financial performance, likely contributing to the pre-market stock price rally. The strong quarterly results and positive outlook have reinvigorated investor confidence in CoreCivic's business model and growth prospects.