CoreCivic and GEO Group Post Record Q4 Revenues on Higher ICE Placements
CoreCivic's Q4 2025 revenue rose 12% year-over-year to $1.05 billion, setting a new quarterly record, while GEO Group reported a 15% increase to $1.37 billion. Both companies attributed gains to higher ICE detainee placements and expanded bed utilization.
1. Record Q4 Revenue
CoreCivic's Q4 2025 revenue climbed 12% to $1.05 billion, while GEO Group posted a 15% gain to $1.37 billion, marking highest quarterly totals in each firm’s history. Both companies cited robust ICE contract utilization as the primary revenue driver.
2. Growth Drivers
Higher average detainee populations contracted by ICE, combined with expanded bed capacity and per diem rate increases, underpinned revenue gains. CoreCivic added 500 beds through new facility expansions, while GEO Group achieved a 3% uptick in bed utilization rates.
3. Future Outlook
Both firms forecast flat to modestly higher revenue growth in FY 2026, contingent on ICE detention policies and contract renewals. Analysts note potential policy shifts could affect contract volumes but expect current utilization levels to sustain near-term performance.