Raises 2025 Full Year Guidance  Increasing Demand Drives Strong Financial Performance

Wed, Aug. 06, 2025

BRENTWOOD, Tenn., July 10, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2025 second quarter financial results after the market closes on Wednesday, August 6, 2025.

Thu, Jul. 10, 2025

Geo Group (NYSE:GEO) and CoreCivic (NYSE:CXW) shares moved higher on Monday after Congress passed Donald Trump's tax and spending bill, which increases funding for immigrant detention. The legislation, known as the “big, beautiful bill,” will triple federal spending on immigrant detection, allocating $45 billion over the next four years.

Mon, Jul. 07, 2025

NEWARK, NJ — They broke through a second-story wall, jumped onto mattresses and climbed over an outside fence. That’s how four federal immigration detainees escaped a privately run prison in Newark last week, authorities say. On Tuesday, the U.S. Attorney’s Office announced additional charges against Franklin Norberto Bautista Reyes, 20, of Honduras, Joan Sebastian Castaneda Lozada, 18, of Colombia, Andres Felipe Pineda Mogollon, 25, of Colombia, and Joel Enrrique Sandoval-Lopez, 22, of Honduras. In their statement, federal authorities detailed how the four men escaped Delaney Hall in Newark on June 12. According to prosecutors, the four prisoners broke through an aluminum second-story wall. They dropped mattresses through an opening in the wall, giving them a landing place to jump onto. The detainees then climbed over a fence, using bedsheets to cover barbed wire on their way out. Castaneda Lozada, Sandoval-Lopez and Bautista Reyes have been apprehended. Pineda Mogollon remains at large. Each detainee has been charged with escape from the custody of an institution or officer, which carries a maximum penalty of one year imprisonment and a $100,000 fine, prosecutors said. >> Read More: 3 Of 4 Escaped ICE Detainees Captured After 'Uprising' At Prison In NJ The incident took place amid ongoing protests at the controversial ICE detainment center, with reports of poor treatment of inmates and a detainee “uprising” emerging on the day of the escape. The company that runs Delaney Hall, the GEO Group, has disputed these claims. Speaking to reporters outside the prison on Friday, U.S. Sen. Andy Kim said that a major security review is now underway, and it is uncertain if other walls in the facility are also vulnerable. Kim said the incident took place amid rising tensions over a lack of access to food. Advocates have also made other allegations about other issues, including medical care and sanitary conditions. U.S. Immigration and Customs Enforcement (ICE) started housing detainees at the 1,000-bed facility on May 1. The prison has seen a wave of controversy and protests since then, including several arrests involving demonstrators. Newark Mayor Ras Baraka has been among the local officials demanding more oversight at the privately run prison. “As stated in our ongoing legal complaint, the City of Newark has never received permit applications from GEO Group to construct an interior wall,” Baraka said in the wake of last week’s escape. “Had [the GEO Group] applied for a certificate of occupancy and/or construction permits, the city would have inspected the integrity of that wall,” the mayor continued. “This chaotic outcome is precisely why the city has ordinances requiring all facilities, including this ICE facility, to apply for the proper permits – and why we have taken the GEO Group to court to ensure the safety of both detainees and their own employees.” “This incident is yet another outrageous validation of the negative consequences of a federal government that believes it is above the prudence and practicality of working within legal parameters, and encourages reckless operations of its collaborators,” Baraka alleged. The GEO Group said it is working with ICE and local law enforcement to apprehend the detainees and carry out an investigation into how the escape took place. A company spokesperson disputed claims of poor conditions at the prison: ICE officials announced plans to reopen Delaney Hall earlier this year. The facility formerly held immigration detainees until it closed in 2017 and was turned into a halfway house. According to a statement from the GEO Group, the 15-year, fixed-price contract for Delaney Hall is expected to generate in excess of $60 million in annualized revenues for GEO in the first full year of operations. The company estimated the 15-year value of the contract with normal cost of living adjustments to be approximately $1 billion. “We are continuing to prepare for what we believe is an unprecedented opportunity to help the federal government meet its expanded immigration enforcement priorities,” GEO Group executive chair George Zoley said. ICE’s expansion efforts in the Garden State have faced stiff opposition from immigration advocates in New Jersey, however, who have pointed to a state law that bans all prisons – private or public – from making new contracts with ICE to hold federal detainees. The law has seen pushback since Gov. Phil Murphy signed it in 2021. The GEO Group and CoreCivic – which runs the Elizabeth Detention Center in Union County – have challenged the state ban in court. The administration of former president Joe Biden took the side of private prison companies in that case, arguing that ICE needed detention centers near airports to expedite operations. A judge ruled in 2023 that CoreCivic could keep its jail in Elizabeth open. Federal authorities and prison companies are now seeking to add more detention space in New Jersey, despite the state ban. President Donald Trump has argued that a nationwide crackdown is needed to push back against a “large-scale invasion” of illegal immigration. On the first day of his second term, the White House announced a sweeping wave of presidential actions and executive orders, including several involving immigration. The GEO Group, which is valued at $4 billion, and CoreCivic, which is valued at $2.2 billion, are part of a massive industry that is expected to grow significantly while President Donald Trump is in office, Open Secrets recently reported. According to Open Secrets, the GEO Group spent $1.38 million lobbying the federal government in 2024, and CoreCivic spent $1.77 million. Much of their focus was the appropriations bill funding the Department of Homeland Security, which includes the budget for ICE. The day after Trump was reelected to his second term, the companies’ stock prices soared: GEO Group’s by about 41 percent and CoreCivic’s by nearly 29 percent. Read More: 2 Private Prison Companies With NJ Ties May Score Big Profits From Trump Deportations Although the focus on federal immigration enforcement has ramped up since Trump took office, ICE raids also took place in New Jersey during Biden’s watch. Read More: NJ Activists Say Biden’s Playbook On Immigration Is Similar To Trump’s Catch up with some of our previous coverage below (click headlines to read article): Send local news tips and correction requests to eric.kiefer@patch.com. Learn more about advertising on Patch here. Find out how to post announcements or events to your local Patch site.

Thu, Jun. 19, 2025

In 1Q25, CoreCivic's revenue declined slightly to $488.63 million. The net income margin improved substantially to 5.14% from 1.91% due to lower financial obligations. Due to the current administration's tough immigration policies, CXW is likely to see a huge increase in demand for its services, resulting in higher revenue growth. Separately, CXW has the potential further improve margins and returning more value to shareholders by maintaining financial discipline.

Fri, Jun. 13, 2025