Welcome to our dedicated page for Geo Group news (Ticker: GEO), a resource for investors and traders seeking the latest updates and insights on Geo Group stock.
GEO Group Inc (GEO) provides essential correctional, detention management, and community reintegration services through government partnerships. This news hub offers investors and stakeholders direct access to official announcements and verified updates impacting the company's operational and financial trajectory.
Our curated collection features press releases covering quarterly earnings, contract awards with federal/state agencies, facility expansions, and strategic initiatives in electronic monitoring technologies. Track developments in GEO's four core service segments: secure detention operations, community-based reentry programs, international projects, and supervision technologies.
This resource serves as a neutral reference point for understanding GEO's evolving role in correctional services infrastructure. Find timely updates on regulatory compliance matters, partnership announcements with government entities, and operational milestones across domestic and international markets.
Bookmark this page for structured access to primary source materials that inform analysis of GEO's market position. Check regularly for updates on facility management contracts, rehabilitation program developments, and financial disclosures essential for comprehensive investment research.
The GEO Group, Inc. (NYSE:GEO) has announced the rescheduling of its second quarter 2022 earnings release to August 2, 2022, prior to market opening. The related conference call will occur on the same day at 11:00 AM ET. Key executives, including George C. Zoley and Jose Gordo, will lead the call. Participants can join via U.S. and international numbers provided. A live audio webcast will be accessible on GEO's investor relations webpage, with a replay available for a year. Telephonic replays will be available until August 16, 2022.
The GEO Group, Inc. (NYSE:GEO) is set to release its second quarter 2022 financial results on
The GEO Group, Inc. (NYSE:GEO) has launched Exchange Offers for its 5.125% Senior Notes due 2023 and 5.875% Senior Notes due 2024. The company aims to exchange these for newly issued 10.500% Senior Second Lien Secured Notes maturing June 30, 2028. Holders can receive cash or new notes for their tendered Old Notes. The Exchange Offers expire on August 16, 2022. GEO has secured the support of significant holders who represent 41% and 65% of the 2023 and 2024 Notes, respectively, for the proposed amendments needed for the exchange.
The GEO Group, Inc. (NYSE: GEO) announced proposed transactions aimed at addressing approximately $2.0 billion in outstanding debt maturities due in 2023, 2024, and 2026. These transactions involve a binding support agreement with creditors and could restructure GEO's debt payments significantly. After completion, expected maturities will be reduced to around $170 million in 2023, $430 million in 2024, and $340 million in 2026. GEO aims to use at least 80% of its free cash flow for debt repayment, improving its financial position and preserving shareholder value.
The GEO Group, a leader in secure facility services, reported Q1 2022 results with total revenues of $551.2 million and net income of $38.2 million ($0.26 per share), a decline from $50.5 million in Q1 2021. Adjusted EBITDA rose to $125.2 million, compared to $108.5 million last year. The company reduced net recourse debt by approximately $80 million in the quarter, totaling $330 million since 2020. Updated guidance for 2022 forecasts annual revenues of $2.2 billion with net income between $145 million and $157 million.
The Geo Group, Inc. (NYSE:GEO) is set to release its first-quarter financial results for 2022 on May 3 before the market opens. A conference call will follow at 11:00 AM ET on the same day, featuring key executives including the CEO and CFO. Interested participants can join the call by dialling designated numbers or access a live audio webcast on GEO's investor relations page. A replay of the call will be available until May 17, 2022.
The GEO Group reported a net loss of $49.8 million or ($0.41) per diluted share for Q4 2021, influenced by a $70.8 million one-time tax charge. Total revenues amounted to $557.5 million, a decline from $578.1 million year-over-year. Despite this, Adjusted Net Income rose to $45.5 million, or $0.38 per diluted share, up from $39.3 million in Q4 2020. For 2021, total revenues were $2.26 billion, down from $2.35 billion in 2020. The company expects 2022 revenues of approximately $2.17 billion, with net income in the range of $0.99 to $1.07 per diluted share.
The GEO Group, Inc. (NYSE:GEO) is set to release its fourth quarter 2021 financial results on February 17, 2022, before the market opens. A conference call to discuss the results will follow at 11:00 AM Eastern Time on the same day. Key executives including CEO Jose Gordo and CFO Brian R. Evans will host the call. Investors can join by dialing U.S. number 1-877-250-1553 or international number 1-412-542-4145. A live audio webcast and a replay of the call will be accessible via GEO's investor relations website.
The GEO Group (NYSE: GEO) announced its Board of Directors has approved a plan to terminate its Real Estate Investment Trust (REIT) status, transitioning to a taxable C corporation effective for the fiscal year ending December 31, 2021. This decision aims to enhance flexibility in debt management, following a reduction of approximately $275 million in net recourse debt over the past two years. However, this restructuring will incur a one-time non-cash deferred tax charge of approximately $75 million and an expected loss in Net Income of $69 million for Q4 2021.
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