The GEO Group (GEO) announced that its wholly-owned subsidiary, GEO Transport, has entered into a new five-year contract, inclusive of option periods, with the U.S. Marshals Service for the provision of secure transportation and contract detention officer services across three service regions covering 26 federal judicial districts and spanning 14 states. The new contract is expected to generate up to approximately $147M over the five-year period, or up to approximately $29M in annualized revenues per full-year of operations, with margins consistent with GEO’s Managed-Only services contracts which average approximately 15%.
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