secwatch.observer — SEC 8-K summary
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Issuer:     GEO GROUP INC (GEO)
CIK:        0000923796
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001193125-24-137288
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GEO Q1 revenue $605.7M, net income $22.7M; guides FY24 Adj. EBITDA $485M-$515M
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- Q1 total revenue $605.7M (vs $608.2M Q1 2023); net income $22.7M (vs $28.0M); Adj. EBITDA $117.6M (vs $130.9M).
- Full-year 2024 guidance: net income $55-75M, Adj. EBITDA $485-515M; includes $86M loss on extinguishment of debt.
- Q2 2024 guidance: net loss $27-30M on $86M debt extinguishment loss; Rev $600-610M; Adj. EBITDA $119-125M.
- Closed $1.275B senior notes (8.625% secured/10.25% unsecured) and $450M Term Loan B; retired $1.5B existing debt.
- GEO Transport awarded 5-year ICE air ops subcontract; annualized revenue ~$25M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923796/000119312524137288/0001193125-24-137288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923796/000119312524137288/d751772d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-137288

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