GEO Group FY23 adjusted EBITDA $507M, net income $107M; FY24 EBITDA guidance $485-515M

GEO GROUP INC

FY23 revenue $2.41B, net income $107.2M, adjusted EBITDA $507.2M.
Reduced net debt by ~$197M in 2023 to $1.78B; target $175-200M annual reduction.
FY24 guidance: adj. EBITDA $485-515M, EPS $0.87-0.99, capex $70-80M.
ICE faces budgetary uncertainty; potential shutdown risk after Mar 22 continuing resolution.
GEO stock trades at ~6.5x EV/Adj. EBITDA, ~12% free cash flow yield.

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