ICE contractors see green even as blue wave hits Washington. For-profit immigration detention center owners reported another surge of revenue from ICE contracts. The largest corporate owner of immigration detention centers is reporting its best financial quarter ever, a result of government contracts related to President Trump's mass deportation campaign. (Scripps News) Posted 3:39 PM, Nov 05, 2026 and last updated 1 hour and 38 minutes ago The largest corporate owner of immigration detention centers is reporting its best financial quarter ever, a result of government contracts related to President Trump's mass deportation campaign continuing to boost revenues. Earnings for the GEO Group have risen 14% so far in 2026, from $1.9 to $2.2 billion, chairman and CEO George Zoley told investors during a quarterly update by telephone on Thursday. He pointed to a deal worth close to $1 billion to sell a detention center to ICE in Adelanto, California, that GEO will still operate. The company is also in the process of activating three more immigration detention centers. "We expect the fourth quarter of 2026 to be another record setting quarter," Zoley said in the investor call. Competitor CoreCivic reported even bigger revenue growth. The company has seen a 27% increase in earnings from $1.6 billion last year to over $2 billion so far in 2026. The company credited a jump in the number of immigrants ICE keeps detaining at their facilitie and the activation of four more CoreCivic detention centers. Both companies expect ICE to continue its policy of mass detention, even after voters indicated immigration enforcement has gone too far. The Trump administration has said it will not back down. CoreCivic President and CEO Lucibeth Mayberry told investors that because Congress already set ICE funding through 2029, they anticipate the government will continue seeking contracts to house detainees. "They can continue to enter contracts and utilize bed capacity through that funding up until then," Mayberry said. "So we believe they will continue to do so. We haven't seen signals that they would not." CoreCivic and GEO Group's taxpayer-funded contracts are certain to see more oversight from Democrats who plan to train their new congressional investigative powers on DHS when they take the majority in the House and Senate. On Wednesday, incoming House Homeland Security Committee chairman Bennie Thompson sent a letter to Mullin demanding "DHS preserve every record, email, and contract."

Geo Group Inc. reported third-quarter net income of $49.2 million on Thursday, or 37 cents per share. Adjusted for non-recurring costs, earnings came to 39 cents per share. The Boca Raton, Florida-based private prison operator beat Wall Street expectations. Three analysts surveyed by Zacks Investment Research had forecast 35 cents per share. Revenue reached $761.1 million, short of the $777.6 million analysts expected. For the full year, Geo Group expects earnings of $1.40 to $1.44 per share and revenue of $2.98 billion to $3.03 billion.

The GEO Group announces contract for Big Spring Complex in Texas totaling 2,329 beds. November 2, 2026 BOCA RATON, Fla.-(BUSINESS WIRE)-Nov. 2, 2026- The GEO Group, Inc. (NYSE: GEO) ("GEO" or the "Company") announced today that the City of Big Spring, Texas has entered into a 10-year intergovernmental service agreement with U.S. Immigration and Customs Enforcement ("ICE") for the activation of a federal immigration processing center at the 2,329-bed Big Spring Complex in Texas (the "Big Spring Complex"), comprised of the 1,404-bed Flightline Facility and the 925-bed Cedar Hill Facility. GEO will provide support services at the Big Spring Complex, which are expected to include the exclusive use of the Facility by ICE, along with security, maintenance, and food services, as well as access to recreational amenities, medical care, and transportation services. The Big Spring Complex is expected to generate approximately $200 million in annual revenues for GEO in the first full year of operations. George C. Zoley, GEO's Chairman, Chief Executive Officer and Founder, said, "We expect that our Big Spring Complex in Texas will play an important role in helping meet the need for increased federal immigration processing center bedspace. We are proud of our 40-year public-private partnership with ICE, and we stand ready to continue to assist the federal government in meeting its immigration enforcement priorities." About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care(R), secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees. Use of forward-looking statements This news release may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law. Pablo E. Paez (866) 301 4436 Executive Vice President, Corporate Relations