GEO Group Q3 revenues $602.8M, net income $24.5M; lowers full-year guidance on ISAP slowdown

GEO GROUP INC

2023-Q3 EPS reported $0.55 revenue$1,804,885,000

Q3 total revenues $602.8M (down ~2% YoY); net income $24.5M (down 36% YoY); Adjusted EBITDA $118.7M (down from $136.2M).
GAAP diluted EPS $0.16; adjusted EPS $0.19.
Reduced total net debt by $109M in Q3 to ~$1.8B.
Updated FY2023 guidance: revenues ~$2.4B; GAAP net income $100-105M; Adjusted EBITDA $495-500M (down from prior).
Guidance reflects flat to slightly down ISAP participants; ICE budget pressures and federal appropriations uncertainty.

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 0.9

GEO GROUP INC reported third quarter 2023 results: revenue $602.8 million, net income $24.5 million, EPS $0.16 per diluted share. Guidance reaffirmed.

Period: third quarter 2023
Revenue: $602.8 million
Net income: $24.5 million
EPS: $0.16 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and electronic monitoring programs, reported today its financial results for the third quarter and first nine months of 2023. Third Quarter 2023 Highlights • Total revenues of $602.8 million • Net Income of $24.5 million • Net Income Attributable to GEO of $0.16 per diluted share • Adjusted Net Income of $0.19 per diluted share • Adjusted EBITDA of $118.7 million •

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GEO GROUP INC reported first nine months of 2023 results: revenue $1.80 billion, net income $82.0 million, EPS $0.55 per diluted share. Guidance reaffirmed.

Period: first nine months of 2023
Revenue: $1.80 billion
Net income: $82.0 million
EPS: $0.55 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

to GEO of $0.16 per diluted share • Adjusted Net Income of $0.19 per diluted share • Adjusted EBITDA of $118.7 million • Reduced Total Net Debt by $109 million to approximately $1.8 billion For the third quarter 2023, we reported net income of $24.5 million, compared to net income of $38.3 million for the third quarter 2022. We reported total revenues for the third

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Source: SEC EDGAR

accession 0001193125-23-276064

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