GEO Group (GEO) Reports In-Line Q3 EPS, provides guidance

GEO Group (NYSE: GEO) reported Q3 EPS of $0.19, in-line with the analyst estimate of $0.19. Revenue for the quarter came in at $602.8 million versus the consensus estimate of $595.3 million.

Guidance:

For the fourth quarter 2023, we expect GAAP Net Income to be in a range of $19 million to $24 million and quarterly revenues to be in a range of $590 million to $600 million. We expect fourth quarter 2023 Adjusted EBITDA to be in a range of $117 million to $122 million.

For the full-year 2023, we expect GAAP Net Income to be in a range of $100 million to $105 million on annual revenues of approximately $2.4 billion. We expect our full-year 2023 Adjusted EBITDA to be between $495 million and $500 million dollars. We expect our effective tax rate for the full-year 2023 to be approximately 29 percent, exclusive of any discrete items.

For earnings history and earnings-related data on GEO Group (GEO) click here.

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