Management has indicated that the pipeline for new leases, renewals is robust as ICE & multiple government entities seek capacity. Company is engaged in multiple discussions. In addition, the recent debt issuance extended maturities & CXW was able to maintain the cost of capital despite the uncertain rate, economic outlook. Leverage ratio of 2.7x is within target range of 2.25x to 2.75x & no major debt maturities before 2029. CXW purchased 2.7m shares in 1Q24, more than it repurchased in all of 2023. We expect measures to deliver shareholder value will continue and are optimistic about operating improvements going forward.
