CoreCivic art

Brentwood-based CoreCivic has reported third quarter results, highlighted by profits having topped the mark of  the same period in 2020.

According to a release, the private prison management company's earnings totaled $30.01 million, or $0.25 per share. This compares with $26.72 million, or $0.22 per share, for the third quarter of last year.  

Analysts had expected the company to earn $0.18 per share, according to figures Thomson Reuters compiled, reports.

CoreCivic revenue for the third quarter rose 0.6 percent to $471.19 million, compared to $468.27 million for Q3 2020.

“Our cash flow generation remains strong despite the ongoing global pandemic and the unique challenges presented by the current employment market,” Damon Hininger, CoreCivic president and chief executive officer, said in the release. “We continue to execute on our capital allocation strategy with a priority of reducing debt and enhancing our overall capital structure.”

Shares of CoreCivic (Tickers: CXW) ended trading at $9.79, up 1.56 percent, Tuesday afternoon.