CoreCivic announced strong financial performance in Q4 2025 and full year 2025 with revenue up 26% to $604.0 million and net income up 69% to $116.5 million. CEO Patrick Swindle credits increased demand and facility activations for the growth. The company anticipates continued growth in 2026 as idle facilities are reactivated.

The activation of previously idle facilities drove CoreCivic’s financial success, as occupancy increased to 78.1% in Q4 2025. Net income rose to $26.5 million in Q4 2025, up from $19.3 million in Q4 2024. Revenue from ICE more than doubled, reaching $244.7 million in Q4 2025. Margins were impacted by start-up expenses but are expected to improve in 2026.

CoreCivic ended 2025 with leverage at 2.8x net debt to Adjusted EBITDA. The company’s balance sheet remains strong, allowing for share repurchases. Investments in capital strategy and revamped credit facilities position CoreCivic for continued growth in 2026. The company plans to invest in maintenance and capital expenditures throughout the year.

The company’s financial guidance for 2026 includes a range of $147.5 million to $157.5 million in net income, $2.54 to $2.64 in FFO per diluted share, and $437.0 million to $445.0 million in Adjusted EBITDA. The guidance excludes new contract awards, facility activations, and major changes in government policies.

CoreCivic’s financial metrics, such as Adjusted Net Income, EBITDA, FFO, and Normalized FFO, are key measures of the company’s operating performance. These non-GAAP measures provide insight into CoreCivic’s financial health and growth strategy. The company’s focus on facility activations, balance sheet strength, and strategic investments are driving its success.

Read more at GlobeNewswire: CoreCivic Reports Fourth Quarter and Full Year 2025