### The GEO Group, Inc. Reports Second Quarter and First Six Months 2024 Financial Results

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### The GEO Group, Inc. Reports Second Quarter and First Six Months 2024 Financial Results The GEO Group, Inc. (NYSE:GEO), a leading provider of secure facilities and reentry services, has disclosed its financial results for the second quarter and the first six months of 2024. #### Key Financial Metrics | Financial Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimate | |-------------------------------|------------------|------------------|--------------|--------------------| | Total Revenue | $607.2M | $593.9M | +2.26% | $607.59M | | Net Loss per Diluted Share | $0.25 (Loss) | $0.20 (Income) | N/A | $0.16 | | Adjusted Net Income per Share | $0.23 | $0.24 | -4.17% | | **Interpretation**: Despite an increase in total revenue by 2.26% YoY, GEO reported a net loss per diluted share of $0.25 due to costs associated with debt extinguishment. Adjusted net income slightly declined to $0.23 per share compared to $0.24 in the previous year, indicating a stable yet slightly deteriorating core operational performance. #### Revenue Performance by Segment | Segment | Q2 2024 Revenue | Previous Guidance | Comparison to Guidance | |--------------------------------|------------------|-------------------|------------------------| | Secure Facilities | N/A | N/A | N/A | | Processing Centers | N/A | N/A | N/A | | Reentry Centers | N/A | N/A | N/A | | Electronic Monitoring Programs | N/A | N/A | N/A | **Interpretation**: Detailed segment revenues and their performance against previous guidance were not provided in the report. #### Operational Data No specific operational data was mentioned in the provided release. #### Comments from Company's Officers George C. Zoley, Executive Chairman of GEO, expressed satisfaction with the steady financial and operational performance of their diversified business units and highlighted the completion of a comprehensive debt refinancing. He emphasized that these actions have enhanced the balance sheet, lowered the average cost of debt, and provided flexibility for future capital returns. #### Announced Dividends or Share Repurchase Program There were no announcements regarding dividends or share repurchase programs in the provided report. #### Forward Guidance GEO updated its financial guidance for 2024: - **Full Year 2024**: - Net Income Attributable to GEO: $0.40 to $0.51 per diluted share - Adjusted Net Income: $0.82 to $0.93 per diluted share - Revenue: Approximately $2.44 billion - Adjusted EBITDA: $485 million to $505 million - **Third Quarter 2024**: - Net Income Attributable to GEO: $0.21 to $0.25 per diluted share - Revenue: $606 million to $616 million - Adjusted EBITDA: $123 million to $130 million - **Fourth Quarter 2024**: - Net Income Attributable to GEO: $0.22 to $0.29 per diluted share - Revenue: $611 million to $621 million - Adjusted EBITDA: $125 million to $138 million #### Stock Price Movement The document indicates the stock price changed by 1.13% after the earnings release, but it does not specify whether this was an increase or decrease. --- **Summary**: The GEO Group, Inc. posted a solid revenue increase in Q2 2024 but experienced a net loss due to significant costs from debt extinguishment. Despite a slight decline in adjusted net income, the company completed a substantial debt refinancing to strengthen its financial position. Forward guidance remains optimistic, with expectations of improved adjusted net income and steady revenue growth for the remainder of 2024. --- The report has been organized into a more readable format, and unnecessary columns have been removed.

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