CoreCivic's CEO, Damon Hininger, recently highlighted a promising outlook for the company during an investor call, predicting substantial growth within the private prison sector, specifically linked to immigration detainment initiatives by the Trump administration. After a turbulent few years characterized by public backlash and financial institutions withdrawing support, CoreCivic and GEO Group now anticipate increased contracts and an uptick in their average daily detainee populations, suggesting a resurgence in their business amidst changing political and economic contexts.
Damon Hininger, CoreCivic's CEO, expressed optimism about what he calls 'one of the most exciting periods' in the company's history, anticipating significant growth.
Despite prior public backlash and activists pressuring banks to halt funding, CoreCivic and GEO Group are now expecting a surge in contracts tied to immigration detention.
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