CoreCivic to repurchase $500 million of shares via accelerated program

CoreCivic Inc. (NYSE: CXW), a government services provider, said on Monday that it entered into an accelerated share repurchase (ASR) agreement with a financial institution in the amount of $500 million. The company also raised its full-year outlook for FFO (funds from operations) per share. After completion of the transaction, there will be $255.8 million remaining under the $755.8 million share repurchase program approved by the board of directors on August 4. CoreCivic said it will pay the dealer $500 million on August 10 and expects to initially receive about 12.4 million shares. Final settlement is expected by the end of Q2 2027.

CoreCivic updated its 2026 financial guidance to reflect the impact of allocating $500 million in cash to execute the ASR, including reduced interest income and the effect of a lower weighted-average share count on per-share results. The company now forecasts full-year earnings per share in a range of $15.62 to $15.82 versus its prior outlook of $15.00–15.20. Adjusted earnings per share are expected in a range of $1.64 to $1.73 versus the prior forecast of $1.62–1.70. CoreCivic also raised its FFO per share outlook to $2.66–2.75 from $2.59–2.68.