Private Prison Investors Push for Increased ICE Detentions Despite Record Profits

Private prison company CoreCivic saw its revenue from Immigration and Customs Enforcement (ICE) contracts more than double in 2025, reaching $244.7 million in the last quarter alone. Despite these record profits, some investors expressed dissatisfaction during a recent earnings call, indicating that ICE's detention pace had not met their expectations. The current ICE detained population, exceeding 70,000, already stands at its highest level since the agency's inception in 2003, with the majority housed in for-profit facilities.

CoreCivic's net profits surged by nearly 70 percent to $116.5 million in 2025, and the company projects even greater earnings for 2026. CEO Patrick Swindle highlighted the company's long-standing relationship with ICE, noting that the number of immigrants detained in CoreCivic facilities increased by almost 60 percent to over 16,000 by the end of 2025. Swindle also informed ICE of CoreCivic's capacity to provide nearly 13,000 additional beds, signaling a readiness to expand operations further.

Concerns about the "humane environment" in these facilities persist, despite Swindle's assurances, with past investigations revealing allegations of inadequate medical care, lack of basic necessities, and sleep deprivation at facilities like the South Texas Family Residential Center. Both CoreCivic and GEO Group, another major private prison operator, have contributed substantial political donations to members of Congress, underscoring the industry's influence. GEO Group also reported significant increases in net income and total revenue for 2025.