Private prison operators CoreCivic and GEO Group reported a combined $1.4 billion in revenue for the second quarter of 2026. The financial results, covering April through June, were announced Thursday as the number of people held in U.S. immigration detention approached record levels. According to the Transactional Records Access Clearinghouse (TRAC), approximately 66,000 people are currently in detention, a figure nearing the record set in January.
The revenue figures follow a series of federal contracts and property sales. CoreCivic reported $684.9 million in quarterly revenue, an increase of more than 27% compared to the same period last year. This total does not include $1.6 billion in net proceeds from the recent sale of four facilities to the Department of Homeland Security (DHS). CoreCivic President and CEO Patrick Swindle stated the sale price averaged $307,000 per bed and noted that the company has reached deals to continue operating those facilities.
GEO Group reported quarterly revenue of $732.1 million, a 15% increase of nearly $96 million over the previous year. CEO George Zoley attributed the growth to 2025 contracts and expanded use of the Intensive Supervision Appearance Program (ISAP). This program includes electronic monitoring tools such as GPS ankle monitors, smartwatches, and the SmartLink phone app. Zoley stated that the company expects increased demand for monitoring services following the end of Temporary Protected Status (TPS) for Haitian immigrants.
For immigrants not held in physical facilities, the expansion of the ISAP program means an increase in electronic surveillance. GEO Group reported that more individuals, particularly Haitian immigrants who lost protected status, will likely be placed under ankle monitoring supervision. While Zoley noted the SmartLink phone app is less expensive to operate, the company expects the use of GPS-tracking ankle monitors to rise. These changes affect the daily movement and legal monitoring requirements for thousands of people waiting for immigration proceedings.
The business model for these companies is also diversifying into transportation and flight contracts as deportations increase. The financial reports indicate that detention has become less expensive for the companies to operate, as Swindle noted CoreCivic exceeded expectations despite a government shutdown by lowering operating costs. Further growth is anticipated next quarter when the $1.6 billion in facility sales are officially recorded. Both GEO Group and CoreCivic confirmed they are in ongoing talks with the government to build or operate additional detention centers.