CoreCivic Wins ICE Contract to Reactivate Idle 1,600-Bed Facility, Adding ~$75M Annual Revenue
CXW sits 94% above its 52-week low of $15.735.
Summary
CoreCivic secured a five-year ICE contract to reopen its Prairie Correctional Facility in Minnesota, idle since 2010. The 1,600-bed site will generate approximately $75 million in annual revenue once fully ramped by Q2 2027, with detainee intake starting in Q4 2026. The company expects an immaterial earnings impact for the rest of 2026 due to startup costs. This follows a string of positive developments, including the $1.47 billion sale of two facilities to DHS in July and strong Q1 results. The contract adds a new revenue stream and leverages existing infrastructure, reinforcing CoreCivic's government partnership momentum.
At the time of this announcement, CXW was trading at $30.56 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3B. The 52-week trading range was $15.74 to $32.69. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.