Private Prison Giants Report Dip in ICE Detainees but Brace for Bounce Back

The two corporate behemoths profiting from immigrant detention, CoreCivic and GEO Group, have reported a modest but notable decline in the number of immigrants held in their facilities. Since January, both companies have seen their detainee populations shrink by roughly 3,000, a first since President Trump resumed office.

According to earnings calls this week, CoreCivic CEO Patrick Swindle and GEO Group CEO George Zoley attributed the dip to a series of administration shakeups and operational disruptions. The firing of DHS Secretary Kristi Noem and the long partial government shutdown, which forced ICE agents to assist TSA at airports, contributed to fewer detentions.

Despite this temporary drop, both companies are bullish on the future. Swindle emphasized that the decline is “event specific” and predicted a swift rebound as the administration maintains its aggressive border security stance. GEO Group revealed a new $60 million government contract to enhance ICE’s ability to track undocumented immigrants, including expanding the use of ankle monitors.

GEO Group also disclosed ICE’s plans to purchase 10 turnkey private detention centers rather than lease them, a move Zoley said aims to shield ICE from mounting lawsuits and oversight in states resistant to detention operations. These lawsuits often target inadequate medical care, poor food quality, and unsanitary conditions — issues that have plagued private detention centers and contributed to a record high in detainee deaths.

The companies’ financials reflect their continued reliance on ICE contracts: CoreCivic’s revenue jumped 25 percent year-over-year, while GEO Group’s earnings rose 17 percent in the first quarter of 2026.

Meanwhile, ICE’s controversial project to convert 11 warehouses into detention centers remains stalled as DHS reevaluates its strategy to consolidate detention capacity.

This earnings call snapshot exposes the grim reality behind the Trump administration’s immigration enforcement: a lucrative, expanding private detention industry that profits regardless of detainee welfare or public outcry. The temporary dip in detainees is just a blip in a system poised to grow more entrenched and less accountable.