GEO Group Q4 2022 net income $41.8M; FY 2023 guidance: rev $2.37-2.47B, Adj EBITDA $500-540M

GEO GROUP INC

2022-FY EPS reported $1.17 revenue$2,376,727,000

Q4 2022 revenues $620.7M, net income $41.8M ($0.28 diluted EPS), Adjusted EBITDA $145.5M.
Full year 2022 revenues $2.38B, net income $172.0M ($1.17 diluted EPS), Adjusted EBITDA $539.2M.
FY 2023 guidance: revenues $2.37-2.47B, net income $100-127M, Adjusted EBITDA $500-540M.
Net debt ~$1.975B, net leverage 3.7x; targeting below 3.5x by end 2023 and below 3x by end 2024.
ISAP program participants below 290,000 due to policy changes; guidance assumes continued reduction at low end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GEO GROUP INC reported first quarter 2023 results: revenue quarterly revenues of $605 million to $610 million, net income Net Income Attributable to GEO to be between $26 million and $28 million. Guidance initiated.

Period: first quarter 2023
Revenue: quarterly revenues of $605 million to $610 million
Net income: Net Income Attributable to GEO to be between $26 million and $28 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the first quarter of 2023, we expect Net Income Attributable to GEO to be between $26 million and $28 million on quarterly revenues of $605 million to $610 million

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GEO GROUP INC reported full year ended December 31, 2022 results: revenue total revenues of $2.38 billion, net income Net Income of $172.0 million, EPS Net Income Attributable to GEO of $1.17 per diluted share.

Period: full year ended December 31, 2022
Revenue: total revenues of $2.38 billion
Net income: Net Income of $172.0 million
EPS: Net Income Attributable to GEO of $1.17 per diluted share
Result: reported results

Exact text from the filing

Full Year 2022 Highlights • Total revenues of $2.38 billion • Net Income of $172.0 million • Net Income Attributable to GEO of $1.17 per diluted share • Adjusted Net Income of $1.40 per diluted share • Adjusted EBITDA of $539.2 million

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GEO GROUP INC reported full year 2023 results: revenue annual revenues of between $2.37 billion and $2.47 billion, net income Net Income Attributable to GEO to be between $100 million and $127 million. Guidance initiated.

Period: full year 2023
Revenue: annual revenues of between $2.37 billion and $2.47 billion
Net income: Net Income Attributable to GEO to be between $100 million and $127 million
Guidance: initiated
Result: guidance update

Exact text from the filing

We expect full year 2023 Net Income Attributable to GEO to be between $100 million and $127 million on annual revenues of between $2.37 billion and $2.47 billion.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GEO GROUP INC reported fourth quarter ended December 31, 2022 results: revenue total revenues of $620.7 million, net income Net Income of $41.8 million, EPS Net Income Attributable to GEO of $0.28 per diluted share.

Period: fourth quarter ended December 31, 2022
Revenue: total revenues of $620.7 million
Net income: Net Income of $41.8 million
EPS: Net Income Attributable to GEO of $0.28 per diluted share
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Highlights • Total revenues of $620.7 million • Net Income of $41.8 million • Net Income Attributable to GEO of $0.28 per diluted share • Adjusted Net Income of $0.34 per diluted share • Adjusted EBITDA of $145.5 million

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Source: SEC EDGAR

accession 0001193125-23-043519

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