Core Viewpoint - CoreCivic reported strong Q2 2025 results, with revenue of $538.2 million exceeding analyst estimates and non-GAAP EPS of $0.36 significantly above consensus, driven by increased occupancy and federal detention needs, particularly from ICE [1][2] Financial Performance - Revenue for Q2 2025 reached $538.2 million, a 9.8% increase from Q2 2024's $490.1 million [2] - Non-GAAP EPS was $0.36, an 80.0% increase from the estimated $0.20 and matching the previous year's figure [2] - Net income doubled to $38.5 million from $19.0 million in Q2 2024, reflecting a 102.6% year-over-year increase [2] - Adjusted EBITDA rose to $103.3 million, a 23.2% increase from $83.9 million in the same quarter last year [2] - Normalized FFO per diluted share increased by 40.5% to $0.59 from $0.42 in Q2 2024 [2] Business Overview - CoreCivic operates correctional, detention, and reentry facilities, primarily generating revenue from contracts with government agencies like ICE and the U.S. Marshals Service [3] - The company focuses on expanding detention capacity and strengthening relationships with government clients, maintaining a contract renewal rate of approximately 96% over the past five years [4] Operational Highlights - Demand surged due to a nationwide increase in ICE detention populations, with revenue from ICE rising 17.2% to $176.9 million [5] - Average daily residential population grew by 4.8% to 54,026, with occupancy rates increasing to 76.8% from 74.3% in Q2 2024 [5] - CoreCivic acquired the Farmville Detention Center for $67 million, expected to generate about $40 million in annual revenue [6] Future Guidance - Management raised FY2025 projections, estimating net income between $116.4 million and $124.4 million, and adjusted diluted EPS between $1.07 and $1.14 [11] - The revised guidance reflects strong Q2 results, ongoing occupancy gains, and the recent acquisition, with potential for further adjustments based on new contracts [11]