GEO Group (NYSE: GEO) reported Q2 EPS of $0.32, $0.02 better than the analyst estimate of $0.30. Revenue for the quarter came in at $577.07 million versus the consensus estimate of $584.7 million.

GUIDANCE:

• For the third quarter 2017, GEO expects total revenues to be in a range of $554 million to $559 million, including approximately $10 million in construction revenue associated with GEO’s contract for the development and operation of the Ravenhall, Australia project. For the third quarter 2017, GEO expects Net Income Attributable to GEO to be in a range of $0.31 to $0.33 per diluted share and AFFO to be in a range of $0.61 to $0.63 per diluted share.
• For the fourth quarter 2017, GEO expects total revenues to be in a range of $557 million to $562 million, including approximately $3 million in construction revenue associated with GEO’s contract for the development and operation of the Ravenhall, Australia project. For the fourth quarter 2017, GEO expects Net Income Attributable to GEO to be in a range of $0.34 to $0.36 per diluted share and AFFO to be in a range of $0.63 to $0.65 per diluted share.

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