GEO sells Adelanto ICE complex (2,644 beds) to DHS for $950M; boosts buyback to $1.25B

GEO GROUP INC

Completed sale of Adelanto West (1,280 beds), Adelanto East (660 beds), and Desert View (704 beds) to DHS for $950M gross; ~$705M expected net proceeds after taxes and fees.
Board increased share repurchase authorization by $750M to $1.25B, effective through December 31, 2029.
GEO will keep providing support services at the three facilities under its existing ICE contract running through December 19, 2034 (current term to 2029 plus five-year option).
Net proceeds plus operating cash flow intended to reduce debt, repurchase shares, and for general corporate purposes.
GEO is in active talks to sell additional company-owned facilities to ICE; no definitive agreement or timeline yet.

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