CoreCivic launches $500M accelerated share repurchase agreement

CoreCivic, Inc. (NYSE: CXW) announced it has entered into an accelerated share repurchase agreement with a financial institution to repurchase $500 million of its common stock, according to a company press release.

The agreement draws from the company's existing $755.8 million share repurchase authorization, which was approved by its Board of Directors on Aug. 4, 2026. CoreCivic made a $500 million payment to the dealer on Aug. 10, 2026, and expects to receive an initial delivery of approximately 12.4 million shares. Upon completion, roughly $255.8 million of repurchase authorization is expected to remain available. Final settlement of the transaction is scheduled to occur before the end of the second quarter of 2027.

The final number of shares repurchased will be based on the volume-weighted average price of the common stock during the term of the agreement, less a discount and subject to adjustments. At settlement, the dealer may be required to deliver additional shares, or CoreCivic may be required to deliver shares or make a cash payment to the dealer.

In connection with the agreement, CoreCivic revised its full-year 2026 financial guidance. Updated net income guidance is $1.492 billion to $1.511 billion, compared with prior guidance of $1.497 billion to $1.516 billion. Diluted earnings per share guidance was raised to $15.62–$15.82 from $15.00–$15.20. Adjusted EBITDA guidance was revised to $434.5 million–$439.5 million from $440.5 million–$445.5 million.

The company said the guidance changes reflect the expected initial share delivery, reduced interest income from deploying $500 million in cash, and the impact on per-share results from a lower weighted average share count.

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