WASHINGTON — America's two largest private prison companies, CoreCivic and GEO Group, reported a combined $1.4 billion in quarterly revenue this spring, as U.S. immigration detention neared record levels with almost 66,000 people held.

CoreCivic posted $684.9 million in total revenue for April through June, up more than 27 percent from the same period last year. Patrick Swindle, CoreCivic's president and CEO, told investors the company exceeded expectations even during a government shutdown, crediting lower operating costs and a rise in detentions.

The company also secured net proceeds of $1.6 billion from the sale of four facilities to the Department of Homeland Security — a transaction that will appear in next quarter's financials. CoreCivic has arranged to keep operating the facilities it sold to the government and plans to build additional centers, moves aligned with President Trump's goal of holding 100,000 people in detention at one time.

GEO Group reported $732.1 million in total revenue for the same quarter, up nearly $96 million, or 15 percent, from the prior year. George Zoley, GEO Group's CEO, said 2025 contracts drove the growth. GEO Group is in discussions with the government to pursue similar deals — selling facilities while retaining operational control.

Both companies are also developing other revenue streams, including providing ankle monitors for Haitian immigrants whose protected status recently ended.

Government ties run deep. David Venturella, a former GEO Group executive, serves as acting director of U.S. Immigration and Customs Enforcement. He told lawmakers he divested his GEO Group stock upon taking the role. Tom Homan, Trump's border czar, worked as a paid consultant for GEO Group before joining the administration. Former Attorney General Pam Bondi lobbied for GEO Group before her appointment.

Data from the Transactional Records Access Clearinghouse, a nonpartisan research center, shows the current detention population of nearly 66,000 approaches levels last seen in January, sustaining the demand that underpins both companies' results.