CoreCivic reported net income of $38.5 million, or $0.35 per diluted share, for the second quarter of 2025, a significant increase from $19.0 million, or $0.17 per diluted share, in Q2 2024. Adjusted net income also rose to $39.7 million, or $0.36 per diluted share, compared to $21.8 million, or $0.20 per diluted share, in the prior year quarter.
Revenue for Q2 2025 reached $538.2 million, up 9.8% from the prior year, driven by higher federal and state populations and increased average per diem rates. Average occupancy climbed to 76.8% from 74.3% in Q2 2024, with revenue from U.S. Immigration and Customs Enforcement (ICE) increasing by 17.2% to $176.9 million.
Management substantially raised its full-year 2025 guidance, projecting adjusted diluted EPS of $1.07 to $1.14, up from the previous range of $0.83 to $0.92. Adjusted EBITDA is now targeted at $365.0 million to $371.0 million. This revised outlook reflects the strong Q2 performance, ongoing occupancy gains, and the recent acquisition of the Farmville Detention Center, which was completed on July 1, 2025, for $67.0 million and is expected to add $40.0 million in annual incremental revenue.
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