Source: The American Prospect
by Whitney Curry Wimbish
“America’s two biggest private prison companies have made even more money from Trump’s mass deportation campaign than executives’ wildest hopes. In second-quarter earnings calls this week, executives at both GEO Group and CoreCivic announced revenue increases of over 100 percent compared to the same period last year, described buybacks of millions of dollars’ worth of stock, and outlined plans for the day after Trump achieves his goal of deporting one million immigrants this year, which they paradoxically expect will net even bigger piles of cash. Both revised their outlook for the rest of the year upwards. At GEO Group, the largest contractor for Immigration and Customs Enforcement (ICE), executives reported total revenue for the period of $636.2 million, about a 5 percent increase from the second quarter of 2024. Net income was $29.1 million for the period, compared to a net loss of $32.5 million last year.” (08/08/25)
https://prospect.org/justice/2025-08-08-private-prisons-cash-in-trumps-mass-deportations/