CoreCivic Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - CoreCivic Inc (CXW) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $9.5 million, or $0.08 per share. This compares with $12.4 million, or $0.11 per share, in last year's first quarter.

Excluding items, CoreCivic Inc reported adjusted earnings of $27.9 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $500.7 million from $458.0 million last year.

CoreCivic Inc earnings at a glance (GAAP) :

-Earnings (Q1): $9.5 Mln. vs. $12.4 Mln. last year. -EPS (Q1): $0.08 vs. $0.11 last year. -Revenue (Q1): $500.7 Mln vs. $458.0 Mln last year.

-Guidance: Full year EPS guidance: $0.66 to $0.76