Two of the nation's largest companies operating private jails are reporting spikes in revenue thanks to the Trump administration's surge of immigrant arrests.

"We are very pleased with a strong second quarter result," said George Zoley, executive chairman of The GEO Group, during an earnings call with investors. He said contracts with Immigration and Customs Enforcement are providing unprecedented growth opportunities.

"This is a unique moment in our company's history," Zoley said.

The GEO Group and CoreCivic are providing bed space for thousands of detained immigrants awaiting deportation hearings. The arrests have overwhelmed jails run by federal and state governments.

ADDITIONAL REPORTING | 'Absolute hell hole': Private prisons set to house ICE detainees bring new set of problems

C

See Full Page