other material
confidence high
sentiment positive
materiality 0.75
CoreCivic to resume Dilley facility ops under ICE contract; $180M annual revenue expected when fully activated
CoreCivic, Inc.
- Resumed operations at South Texas Family Residential Center (Dilley, TX) for up to 2,400 individuals; amended IGSA with ICE expires March 2030.
- Expected annual revenue ~$180M when fully activated (incl. medical); accretive to earnings from Q2 2025.
- Entered new lease with Target Hospitality Corporation (facility owner) co-terminus with ICE agreement.
- Appointed Dawn Smith, Stacey Tank, Nina Tran as independent directors effective March 17, 2025; Board expands from 11 to 14.
- Robert Dennis and Anne Mariucci will not stand for re-election at 2025 Annual Meeting; Board reduces to 12.