GEO Q2 revenue $607.2M, net loss $0.25/sh on $82.3M debt extinguishment; Adj EPS $0.23

GEO GROUP INC

2024-Q2 EPS reported -$0.08 revenue$1,212,857,000

Q2 2024 revenue $607.2M (+2.2% YoY); net loss $32.5M ($0.25 diluted) vs net income $29.6M ($0.20) in Q2 2023.
Adjusted EBITDA $119.3M (down 7.5% YoY); adjusted net income $30.1M ($0.23) vs $29.2M ($0.24) last year.
FY2024 guidance: revenue ~$2.44B; Adj EBITDA $485M-$505M; GAAP EPS $0.40-$0.51; Adj EPS $0.82-$0.93.
Completed debt refinancing; exchanged $229.4M convertible notes; net debt $1.754B as of June 30.
New one-year contract with Oklahoma DOC for Lawton Facility through June 2025; ICE extends Adelanto task order to Oct 19.

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