Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Equity Bottom-Up

<ul><li>CXW has authorized an increase to the existing share repurchase plan to purchase up to an additional $200m in CXW shares.</li><li>The aggregate authorization increased from up to $500m of its shares to up to $700m.</li><li>With the added authorization, CXW had $377.9m of repurchase authorization available under the plan as of Nov.</li></ul>

CXW has authorized an increase to the existing share repurchase plan to purchase up to an additional $200m in CXW shares.The aggregate authorization increased from up to $500m of its shares to up to $700m.With the added authorization, CXW had $377.9m of repurchase authorization available under the plan as of Nov.

CXW: Believe CXW is Positioned for Robust Growth  View Share Repurchase Increase as a Positive

<ul><li>CXW's 3Q25 results beat our / consensus projections.</li><li>Total revenue of $580.4m was well ahead of our $551m forecast and adjusted EPS excluding costs to reactivate idled facilities exceeded our/consensus EPS forecasts.</li><li>Detention populations and revenue have not been impacted by the government shutdown.</li></ul>

CXW's 3Q25 results beat our / consensus projections.Total revenue of $580.4m was well ahead of our $551m forecast and adjusted EPS excluding costs to reactivate idled facilities exceeded our/consensus EPS forecasts.Detention populations and revenue have not been impacted by the government shutdown.

CXW: Reactivations, Strong Balance Sheet, New Contracts Position CXW For Robust Growth

<ul><li> With $130.5m of cash at the end of 2Q25 and $216.4m available under its revolver, for liquidity of about $346.9m, CXW has a strong balance sheet and liquidity to support operations during the government shutdown.</li><li>Moreover, the company expects to receive full payment and interest payments once the shutdown ends under the 1982 Prompt Payment Act.</li></ul>

 With $130.5m of cash at the end of 2Q25 and $216.4m available under its revolver, for liquidity of about $346.9m, CXW has a strong balance sheet and liquidity to support operations during the government shutdown.Moreover, the company expects to receive full payment and interest payments once the shutdown ends under the 1982 Prompt Payment Act.

CXW: New Contracts, Reactivating Facilities, Well-Positioned With Strong Balance Sheet

<ul><li> Yesterday CXW announced a new contract for the California City Immigration Processing Center.</li><li>Once fully ramped - expected in 2Q26 - total annual revenue is expected to be ~$130m.</li><li>CXW also entered into a contract for its Leavenworth, Kansas facility.</li></ul>

 Yesterday CXW announced a new contract for the California City Immigration Processing Center.Once fully ramped - expected in 2Q26 - total annual revenue is expected to be ~$130m.CXW also entered into a contract for its Leavenworth, Kansas facility.

CXW: Contracts For Two Reactivated Facilities

<ul><li> Yesterday CXW announced the appointment of Patrick D.</li><li>Swindle to President and CEO, effective January 1, 2026.</li><li>He was appointed President and COO on January 1, 2025.</li></ul>

 Yesterday CXW announced the appointment of Patrick D.Swindle to President and CEO, effective January 1, 2026.He was appointed President and COO on January 1, 2025.

CXW: Occupancy Continues to Rise With Reactivated Facilities, Positive on CEO Appointment

United States

CoreCivic, Inc. provides detention and corrections services to governmental agencies. The Company designs, constructs, owns, manages, and renovates jails, prisons, government agencies, and inmate transportation companies. CoreCivic operates throughout the United States.

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CoreCivic (CXW US)

CXW: Reactivations, Strong Balance Sheet, New Contracts Position CXW For Robust Growth

CXW's 3Q25 results beat our / consensus projections. Total revenue of $580.4m was well ahead of our $551m forecast and adjusted EPS excluding...

Zacks Small Cap Research

CXW: New Contracts, Reactivating Facilities, Well-Positioned With Strong Balance Sheet

With $130.5m of cash at the end of 2Q25 and $216.4m available under its revolver, for liquidity of about $346.9m, CXW has a strong balance sheet...

Zacks Small Cap Research

CXW: Contracts For Two Reactivated Facilities

Yesterday CXW announced a new contract for the California City Immigration Processing Center. Once fully ramped - expected in 2Q26 - total ...

Zacks Small Cap Research

CXW: Occupancy Continues to Rise With Reactivated Facilities, Positive on CEO Appointment

Yesterday CXW announced the appointment of Patrick D. Swindle to President and CEO, effective January 1, 2026. He was appointed President and COO...

Zacks Small Cap Research

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CXW: Believe CXW is Positioned for Robust Growth View Share Repurchase Increase as a Positive

CXW has authorized an increase to the existing share repurchase plan to purchase up to an additional $200m in CXW shares. The aggregate...

Zacks Small Cap Research

CXW: Reactivations, Strong Balance Sheet, New Contracts Position CXW For Robust Growth

CXW's 3Q25 results beat our / consensus projections. Total revenue of $580.4m was well ahead of our $551m forecast and adjusted EPS excluding...

Zacks Small Cap Research

CXW: New Contracts, Reactivating Facilities, Well-Positioned With Strong Balance Sheet

With $130.5m of cash at the end of 2Q25 and $216.4m available under its revolver, for liquidity of about $346.9m, CXW has a strong balance sheet...

Zacks Small Cap Research

CXW: Contracts For Two Reactivated Facilities

Yesterday CXW announced a new contract for the California City Immigration Processing Center. Once fully ramped - expected in 2Q26 - total ...

Zacks Small Cap Research

CXW: Occupancy Continues to Rise With Reactivated Facilities, Positive on CEO Appointment

Yesterday CXW announced the appointment of Patrick D. Swindle to President and CEO, effective January 1, 2026. He was appointed President and COO...

Zacks Small Cap Research