The GEO Group Inc. (GEO) has released its third-quarter earnings report, which shows an increase from the same period last year; however, the results have fallen short of Wall Street's expectations.
The company recorded a net income of $26.32 million, translating to $0.19 per share, compared to $24.52 million, or $0.16 per share, during the third quarter of the previous year.
When adjusted for certain items, The GEO Group Inc. posted earnings of $29.05 million, or $0.21 per share, for this period. These figures fall below analyst projections, which had anticipated earnings of $0.24 per share, based on data from Thomson Reuters. It is important to note that analysts typically exclude special items from their estimates.
Revenue for the quarter experienced a marginal increase of 0.1%, rising to $603.13 million from $602.79 million in the prior year.
A summary of The GEO Group Inc.’s earnings under GAAP reveals:
- Third-quarter earnings: $26.32 million versus $24.52 million last year
- Third-quarter earnings per share (EPS): $0.19 versus $0.16 last year
- Third-quarter revenue: $603.13 million versus $602.79 million last year
**Forward Guidance:**
- Expected EPS for the next quarter: $0.19 to $0.22
- Expected revenue for the next quarter: $600 million to $610 million
- Full-year EPS guidance: $0.80 to $0.84
- Full-year revenue guidance: $2.42 billion
