In Q4 2025, GEO Group secured $520 million in new revenues, activated 6,000 beds, and saw ICE detention census reach record levels of 24,000. The company saw growth driven by federal detention capacity expansion plans and aims to generate $300 million from high-security beds. Management expects 2026 to be active with potential upside.

Full-year 2026 guidance includes modest organic growth, margin compression due to startup expenses, and potential from Secure Services volume. The company is evaluating federal procurement for warehouse projects and faces seasonal headwinds in Q1 2026. Capital allocation priorities include reducing net debt and share repurchases.

A potential government shutdown may affect payments, but essential services will continue. The company recorded a $232 million gain from facility sales, incurred a $38 million litigation reserve, and saw a change in executive leadership. Management believes ICE is on track to meet the 100,000-bed goal using private capacity and new solutions.

Read more at Yahoo Finance: The GEO Group, Inc. Q4 2025 Earnings Call Summary