CoreCivic, Inc. (NYSE:CXW) Q2 2023 Earnings Conference Call August 8, 2023 11:00 AM ET

Company Participants

Cameron Hopewell – Managing Director-Investor Relations

Damon Hininger – President and Chief Executive Officer

David Garfinkle – Chief Financial Officer

Brian Hammonds – Vice President-Finance

Conference Call Participants

Joe Gomes – NOBLE Capital

Kirk Ludtke – Imperial Capital

Brian Violino – Wedbush

M. Marin – Zacks

Edwin Groshans – Compass Point Research & Trading, LLC

Operator

Good morning. My name is Amber and I will be your conference operator. As a reminder, this call is being recorded. At this time, I’d like to welcome you to the CoreCivic’s Second Quarter 2023 Earnings Conference Call.

[Operator Instructions] Thank you.

I would now like to turn the call over to Cameron Hopewell, CoreCivic’s Managing Director of Investor Relations. Mr. Hopewell you may begin your conference.

Cameron Hopewell

Thanks, operator. Good morning, ladies and gentlemen, and thank you for joining us.

Participating on today’s call are Damon Hininger, President and Chief Executive Officer and David Garfinkle, Chief Financial Officer. We are also joined here in the room by our Vice President of Finance, Brian Hammonds.

On today’s we will discuss our financial results for the second quarter of 2023 developments with our government partners and provide you with other general business updates. During today’s call, our remarks, including our answers to your questions will include forward-looking statements pursuant to the Safe Harbor provisions of the Private Securities and Litigation Reform Act. Our actual results or trends may differ materially as a result of a variety of factors including those identified in our second quarter 2023 earnings release issued aftermarket yesterday and in our SEC filings, including Forms 10-K, 10-Q and 8-K reports. You are also cautioned that any forward-looking statements reflect management’s current views only and that the company undertakes no obligation to revise or update such statements in the future.

On this call, we will also discuss certain non-GAAP measures, a reconciliation of the most comparable GAAP measurement is provided in our corresponding earnings release and included in the quarterly supplemental financial data report posted on the Investors page of our website, corecivic.com.

With that, it’s my pleasure to turn the call over to our President and CEO, Damon Hininger.

Damon Hininger

Thank you, Cameron. Good morning, everyone, and thank you for joining us today for our second quarter 2023 earnings call.

On today’s call, I will provide you with details of our second quarter financial performance and our updated 2023 full year financial guidance. I will also discuss with you our latest operational developments, update you on our capital allocation strategy and discuss the latest developments with our government partners. Following my remarks, I will turn the call over to our CFO, Dave Garfinkle, who will review our second quarter 2023 financial results and our increased full year 2023 financial guidance in greater detail. He will also provide a more detailed update on our ongoing capital structure initiatives.