Corecivic in expansion mode, developing a new facility in Kansas

Corecivic (NYSE:CXW) reported Q4 FFO of $0.60 per share, vs consensus of $0.55 per share. Revenues fell 5.1% Y/Y to $440.6M vs $429.8M consensus.

The company issued guidance for FY 2018 seeing FFO/share of $2.23 to 2.31.

CoreCivic entered into new contracts with three different states and in 2018, the REIT was awarded a contract to develop a new correctional facility in a public-private partnership that will be leased and operated by a government agency in Lansing, Kan.

Conference call at 11 a.m. ET.

Previously: Corecivic beats by $0.05, beats on revenue (Feb. 14)