CCA: Q4 Earnings Snapshot
BRENTWOOD, Tenn. (AP) — BRENTWOOD, Tenn. (AP) — Corrections Corp. of America (CXW) on Wednesday reported a key measure of profitability in its fourth quarter.
The Brentwood, Tennessee-based real estate investment trust said it had funds from operations of $54 million, or 52 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $26.5 million, or 26 cents per share.
The prison operator, based in Brentwood, Tennessee, posted revenue of $604 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $587.2 million.
CCA expects full-year funds from operations in the range of $2.54 to $2.64 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CXW at https://www.zacks.com/ap/CXW