Shares of CoreCivic, Inc. (NYSE: CXW) soared 7.04% in pre-market trading on Thursday, following the release of the company's impressive second-quarter 2025 financial results that significantly exceeded analyst expectations. The private corrections and detention management services provider reported strong earnings and revenue growth, coupled with an optimistic outlook for the full year.

CoreCivic announced quarterly earnings of $0.59 per share, handily beating the analyst consensus estimate of $0.42 by 40.48%. This represents a substantial increase from the $0.42 per share earned in the same period last year. Revenue for the quarter came in at $538.165 million, surpassing the analyst estimate of $498.615 million by 7.93%. The strong top-line performance marks a 9.81% increase compared to the $490.109 million reported in the same quarter of the previous year.

Adding to the positive sentiment, CoreCivic raised its full-year 2025 guidance. The company now projects normalized FFO per diluted share to be between $1.99 and $2.07, with adjusted diluted EPS forecasted in the range of $1.07 to $1.14. The strong quarterly performance and upbeat outlook were attributed to increasing demand for the company's services, particularly from U.S. Immigration and Customs Enforcement (ICE), as nationwide detention populations under ICE custody reached an all-time high. CoreCivic also highlighted progress in reactivating previously idled facilities and the recent acquisition of the Farmville Detention Center, which are expected to contribute to future growth.