A Miss. CoreCivic reported second quarter results after the market closed yesterday. Revenue came in at $456.7 million compared to $464.6 million in the same period last year. Consensus was $462.5 million. The Company reported net income of $10.6 million, or $0.09 per share and adjusted net income of $16.2 million, or $0.13 per share, compared to $0.13 and $0.25 per share, respectively, last year. Consensus EPS net income was $19 million, or $0.16 per share. We had projected revenue of $455 million and EPS of $0.13.La Palma. Transitioning of the La Palma facility from serving ICE to serving the State of Arizona remains a challenge. Partly due to a tight labor market, the process has not gone as smoothly as anticipated and full transition has been pushed out into 1Q23 from 4Q22. While we believe this a temporary setback, it likely will impact results for the remainder of the year. Read More >>