CoreCivic (CXW) entered into an accelerated share repurchase agreement to repurchase $500 million of its common stock under its existing $755.8 million share repurchase authorization, the company said Monday.
The company will pay the financial institution $500 million and expects to receive an initial delivery of about 12.4 million shares.
The final number of shares repurchased will be based on the volume-weighted average price of CoreCivic's stock during the agreement's term, less a discount and subject to adjustments.
The agreement is expected to settle before the end of the second quarter of 2027.
CoreCivic has also raised its 2026 guidance, now expecting adjusted diluted earnings per share of $1.64 to $1.73, compared with prior guidance of $1.62 to $1.70, it added.
Shares of the company were up 6% in Monday trading.
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