today for thank and earnings everyone, for our conference morning, us XXXX Good joining Cameron. you, Thank fourth quarter call. you
development fourth in we the for will COVID-XX, with of a you discuss opportunities response to recent our developments and agenda the business developments performance, partners. our breakdown financial latest provide our government to quarter with ongoing call, Going our
of our issued CFO, in you then call discuss also I yesterday. full-year our with on real guidance, to June will which our with and estate review noncore to quarter, Property our revenue between and of on guidance will was sale in ongoing generated during will with our transactions assets $XX XX XXXX. consistent press managed-only detail, we structure. XXXX, our I turn we the of an more XXXX we and our Dave quarter multiple $XXX.X who results the than in for the exited the revenue in you exit quarter Tennessee local assets allocation the XXXX, state our enhance of within XXXX prior-year efforts of of million, segment decision strategy, will update and December contracts capital and fourth financial fourth release million the quarter. update Collectively, X to of sold governments despite managed-only XXXX financial In our provide our the prior-year and We capital over the contracts of greater Garfinkle, in we'll accounted
$X.XX FFO, per or generated year full XXXX. $XXX.X share, which the a decline $X.XX operations, normalized the was per generated share of or from of For we million, from funds XXXX, we in
election was Now our XXXX. driven decline the to X, taxable year-over-year January a effective by C-corp, become
male in information the in expected Center deeply to FFO competitive our the for for early a in contract have year, an by term website. to with residents year, prior earnings, $XX option Arizona Reentry. further at several was procurement largest sector million, to annualized State the selected revenue with federal pro were state of to by the Immigration caring the for mission to XXXX FFO corrections contract process. supplemental and $XX term XXXX contract transactions balance The X,XXX Enforcement, our the customer, financial honored that by Department the consistent million XXXX in had decade, package million Corrections, La or up reaching detail. state, to years. This this per for calculation of a forma forma a purposes, $X.XX years normalized our C-corp were Palma our the care any is in estimated of of following a facility XXXX, illustrative upon will despite of each and full new quarter very or normalized La performance executing Palma on been January We pro approximately be share, an the agency presented to detainees. For of Rehabilitation awarded so X private the In supports represents extend awarded we over and currently Dave reflect contract approximately while new our of as Customs the to which X in generate X,XXX quarterly additional adult we includes has sheet impacted but we our financial Correctional $XXX.X largest strengthened taxes review was an negatively initial public Arizona utilization for new ICE,
a we the Rehabilitation populations Reentry, Corrections, ICE residents to transitioning are ICE and of Department currently Arizona detainees As and the on state from a for from resident result, working with both plan of Arizona.
late XXXX. expect place the completion in of of and early quarter we are not transition quarter transition currently the first second to in in yet the XXXX of quarter fourth or plans the begin the While the finalized, taking
working smooth ICE transition other to the of we facilitate We available where to a including facilities detainee their within facilities, with populations capacity have are closely region.
forward-looking provide position a to We to are XXXX. again pleased with be for once financial guidance you in
of financial to range guidance funds the share the operations, $X.XX per and to share adjusted $X.XX from in range FFO $X.XX. AFFO, or in per normalized forecast $X.XX of XXXX full-year Our
many capacity pandemic. utilization forecast reflects these allowed we utilization expect guidance partners COVID-XX of restrictions and relieved on timing Our by the currently to of generate growth return our would levels, cannot placed a of government pre-pandemic earnings COVID-XX ongoing changes. when our is but restrictions are because positive continuation facilities We the to of to
XXXX, are due invested in we are operating we above-average and a to forecasting increases We meaningful largest company country. over team decade, also wage forecasting are XXXX. given the the investments inflation CoreCivic higher we has additional In experiencing expenses to wage in the across
of resident I to early our in new transition also Our Palma a the X,XXX-bed beginning the guidance the over The State the earlier. populations Correctional take with first La the of of which quarter contract at reflects is in quarter. second late Center transition of as Arizona, result the place or majority XXXX, expected discussed
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start of our operational and business discussion COVID-XX response. will the update our We development ongoing impact and brief with pandemic a on
justice-related to than acted their to begun a certain such reverse. intakes, declines meaningfully criminal due mostly additional The distancing transfer space see early trends in facilities to meaningfully yet rather below faster within reentry The continue reduction new confinement, for levels. to create been home pre-pandemic Governments statuses, facilities. We populations releases. have furloughs, to to assigned enhanced not have to or nonresidential releases, social residents as early have
to our fourth of state quarter, a facilities, safety during customers utilization to modest prior-year continuation the recent the contributed the many of However, see increasing we increase a their utilization our quarter. did compared of trend in of which
facility quarter, of Our the was an statements safety points in XX.X% with utilization the compared XXX quarter. prior-year increase basis
was period. the relatively Our Community with segment prior-year consistent
of pandemic. the and our continue operations well-established in the needed and the resident due rate We need in us this of the going the fourth facilities quarter across protocols of impact the staffing variants. year put rose anticipate into dramatically less partners of than of we safety cases We and impact has operations XXXX. year to been rate later number transmissible segments. levels normalize, during an cases among many experienced the raise fourth staff operations the COVID-XX, believe vaccinations requirements the gradually our first more of Omicron both positive place to our in trend the populations to reopen has and staff in have possible Pertaining positive but higher the increased of to directly utilization nation the to variants. around the in also courtroom of increase capacity of facility As emergence mitigate we This quarter, during by significant anticipation and motivated the our Omicron utilization helped residents certainly
of time end say, the Leading line experts over the in should high, However, vigilant pandemic response to is were remove until operations decline to around could the to remain operations. normalization though, nationally positive occurs, past in transmission variant we that country facility Omicron health the our us. weeks protocols indicated and various transmission facility rapid the therefore, so very significant pandemic. few to that across continue of cases COVID-XX lead of be But of widespread, extended. the mitigate the encouraging in enacted an remain for the efforts new I to our have the to cases
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been challenges. to However, nimble have in staffing the response we our
and retention We sense providing overall we other employer These a a engagement, have job can new satisfaction. shared multiple sign-on are private retention creative strategies. increase programs housing in responded of the aggressively of that increasing and bonuses, to solutions, this have include in as a we and sector, we environment. deploying tools and incentives mission, and wages, challenge developing and hiring lot by the And national
correctional worked to increases per have government effort very reflect inflation diem increased above-average We by a provide challenge. to It in the inflation as this to officers resources increase to wage is our support In a our we over states that note wage wage diem request for this our starting to historical collaborative market. as utilizing us to over direct percentages. committed well our XXXX, approximately allowed double-digit with per company partners increases experiencing. averages, are and that our supporting are have the more a in in of largest address partners all government we important the our response been by current many wages by for average X.X%, double The necessary decade, than
their discuss to our in invest inflation our working our to BOP recent to wage or have employees Federal and elevated first significant and Justice, within customers development Prisons, government and the of federal populations I expect the continue and USMS. facility will move beginning partners or government persists. Marshals remain to experienced with next decade, declines as partners. United updates, closely with our are The in Department other XXXX, inmate in and BOP, we to the Bureau Service, inflation some high We diversified business States in we significantly be able operations last federal business state-level to of
prison facility which remaining of Georgia, in government BOP with the to anticipate that X% revenue. total begun last contract Our the is less and November expires have marketing not will partners. a facility solution McRae contract XXXX, be of other than renewed potential our representing in We as already our
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signed other operational USMS, and privately populations The that their of navigate general around have need the directly for recent impact Department with of should West Detention our Justice consistent the contracts for the Last Detention Tennessee facilities. had alternative had their country so return, government previously Facility Tennessee arrangements XXXX we expired, prisoner Correctional be Center our In from contracts continues half are the Biden with facilities the USMS Correctional guidance. fully have both and Facility in Much issued and XXXX renew of been set direct for facilities by direct years, have remaining first we Leavenworth with Ohio opportunities capacity the unchanged. attorney the were are relatively with financial the our USMS In partners. XXXX, Detention order in set of in were USMS to detainee that at could contract January into at securing to half in populations contractual in we contracts transferred XXXX, the bed our other various federal in remains we Montana and X,XXX Crossroads contracts year, and successful expire are the with remained XXX-bed direct these to total government In only to and years. to President second for of X that marshals. not operate facilities expiration Leavenworth with executive staff to locations. non-renewals both USMS directed have USMS operated to we serve As overall The Center contracts Detention able that detention the criminal and enter Center these where now and no remain direct impact later full-year of Center partners, redeployed Northeast XXXX, new were X contracts set expire. to reflected of with West
ICE, of public or safety their is with being work third the capacity Immigration to needs in remained Nationwide, government are ICE federal levels to Customs be significant from critical the well and support and capacity the partner below order on our and Department to continue continue They partner USMS the impact Enforcement, their mission. XXXX. their is within the met detainee We Security. historical most closely COVID-XX Home ensure to utilization. with populations throughout
quarter-over-quarter. XXXX, quarter ICE relatively remained fourth of the populations During detainee flat
also At continue XX and As or have changes beds appropriation country decisions apprehended remain utilization at the of Administrative have XX, through to XXXX, Current United origin. which facility nationwide, been border since for unaccompanied process. all of the March their XX,XXX to prevents largest Title the below core the budget for entry, of immigration individual's occurred of are of remain while allows materially States adjudicated. which family many averages. of ports annual number they The remain the and end historical to XXXX, asylum the utilization Mexico while in units, to Title -- the XX, a their enabled below detainees. prevent XX,XXX order nearly to some enactment result, ICE levels of spread funded approximately the detained Southwest borders funded immediately individuals levels enter our individuals be claims are since Instead, adults utilization approximately levels to of original Title COVID-XX. and enactment country's at lower minors, has individual the well are cases and of expelled in driver
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individuals the deportations, driver in previous appear have in We may of compel situations to primary XX. the keep unclear Title applying custody experienced detention ICE and capacity will adults. adult no be of government XXXX. we as instead utilization be for it increase Title histories the These all in such to Certain longer applied factors, populations, historically ICE when provided with criminal XX is or have to
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promotes of young XX. reach participating young specifically of apprehended the or ICE case management just for cases. formal ages the obligations, to to for is issued intended immigration minors for of to the is this until a a program for age procurement flight-risk services that assist new out program The responsible border along custody within unaccompanied low last adults age a monitoring Refugee our immigration that XX provide agency is with resolution carrying they month, removal non-dangerous, program, ATD for adults. In their fact, XX Resettlement, Southwest other ORR, until This of adults, who compliance designed Office O-R-R, young framework
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