Geo Group Inc ( (GEO) ) has released its Q1 earnings. Here is a breakdown of the information Geo Group Inc presented to its investors.
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The GEO Group, Inc. is a diversified government service provider specializing in the design, financing, development, and support services for secure facilities, processing centers, and community reentry centers across several countries, including the United States, Australia, South Africa, and the United Kingdom.
In its first quarter of 2025 earnings report, GEO Group announced total revenues of $604.6 million and a net income of $19.6 million, equating to $0.14 per diluted share. The company also reported an Adjusted EBITDA of $99.8 million, reflecting a decrease from the previous year.
Key highlights from the report include a slight decline in total revenues compared to the first quarter of 2024, along with an increase in general and administrative expenses due to a reorganization of the management team. The company also announced significant contract awards, including the reactivation of two facilities and a 15-year contract with ICE, expected to generate substantial annualized revenues.
Looking ahead, GEO Group anticipates a challenging first half of 2025 due to increased overhead and capital expenditures. However, the company expects growth to materialize in the second half of the year, with plans to reduce net debt significantly and explore opportunities to return capital to shareholders. The full-year guidance projects net income attributable to GEO to range between $0.77 and $0.89 per diluted share on revenues of approximately $2.53 billion.