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, 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.
The GEO Group (NYSE: GEO) announced an unfavorable verdict regarding a combined $23.2 million judgment from retrials in two lawsuits in Washington. GEO intends to appeal the verdicts, arguing that the state’s Minimum Wage Act should not apply to detainees in their Voluntary Work Program. Despite the judgments, GEO has not recorded a loss accrual as it does not consider an unfavorable outcome probable. The company faces uncertainties linked to its appeal, existing and potential litigations, and changes in federal immigration and correctional policies.
The GEO Group reported its financial results for Q3 and the first nine months of 2021, highlighting total revenues of $557.3 million for Q3, down from $579.1 million in Q3 2020. Net income attributable to GEO was $34.7 million, compared to $39.2 million a year earlier. For the first nine months, revenues totaled $1.70 billion, with net income at $127.2 million, up from $101.1 million in 2020. The company has successfully reduced net recourse debt by $175 million year-to-date and aims to maintain financial flexibility amidst ongoing challenges.
The GEO Group, Inc. (NYSE:GEO) has announced its third quarter 2021 earnings release scheduled for November 4, 2021, before the market opens. A conference call will follow at 11:00 AM (Eastern Time) on the same day, featuring key executives including CEO Jose Gordo and CFO Brian R. Evans. Investors can join the call via U.S. and international numbers. A live webcast will also be available on GEO's investor relations page, with a replay accessible for one year. Telephonic replays will be available until November 18, 2021.
The GEO Group (NYSE: GEO) has announced a new two-year lease agreement with the State of New Mexico for the 600-bed Guadalupe County Correctional Facility, effective from November 1, 2021. The lease includes options for successive two-year renewals until October 31, 2041. The average annual rent for the first two years is $4 million. In the first half of 2021, the facility generated approximately $4 million in operating revenue. GEO will maintain the facility during the lease term, transitioning operations to the New Mexico Corrections Department.
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