WASHINGTON — The two largest U.S. private prison operators reported sharply higher quarterly revenue as the federal government expanded immigration detention, underscoring the growing financial importance of Immigration and Customs Enforcement contracts to the companies.
CoreCivic reported second-quarter revenue of $684.9 million, up more than 27% from a year earlier, while The GEO Group reported revenue of $732.1 million, an increase of about 15%, according to company results released on Thursday. Combined revenue for the April-June quarter was about $1.4 billion.
The results came as the number of immigrants held in U.S. detention approached 66,000, according to data cited by NPR from the Transactional Records Access Clearinghouse, a research center at Syracuse University. The population was nearing levels recorded earlier in the year, when ICE detention reached historic highs.
CoreCivic and GEO have expanded capacity through new and reactivated facilities under contracts with ICE. CoreCivic previously said several facilities brought online under new agreements could generate hundreds of millions of dollars in annual revenue once fully activated. Its filings show ICE accounted for 35% of the company's total revenue in 2025, up from 29% a year earlier.
GEO has similarly reported significant growth from immigration-related contracts. In its first-quarter results, the company said new or expanded agreements secured in 2025 represented up to $520 million in annualized revenue, including contracts to house ICE detainees at facilities totaling about 6,000 beds. GEO said those facility activations represented approximately $300 million in annualized revenue.
The companies also derive revenue from services beyond detention facilities. GEO has expanded electronic monitoring and case-management services for people outside detention, while also adding transportation and other contracts with federal agencies. The company said the number of ICE program participants using GPS ankle bracelets had risen to more than 48,000 from about 17,000 in early 2025.
The growth has drawn scrutiny from immigration advocates and government officials over conditions in privately operated detention facilities. New Jersey officials last week opened a civil-rights investigation into Delaney Hall, a GEO-operated ICE facility in Newark, following the death of a detainee. GEO has said it operates its facilities under government requirements and oversight.
The companies' latest results come as the Trump administration continues expanding immigration enforcement and detention capacity. CoreCivic and GEO have indicated that additional facility activations and higher detainee populations could provide further revenue growth, although the companies' financial outlook remains dependent on government contracting and ICE detention levels.
