GEO Q2 2020 Earnings Report
Key Takeaways
The GEO Group reported second quarter 2020 net income attributable to GEO of $36.7 million, or $0.31 per diluted share. Total revenues for the second quarter 2020 were $587.8 million. The company faces challenges associated with the COVID-19 pandemic, which has had a negative operational and financial impact across several segments.
2Q20 Net Income Attributable to GEO of $0.31 per diluted share
2Q20 AFFO of $0.66 per diluted share
Updated FY20 guidance for Net Income Attributable to GEO of $0.95-$0.99 per diluted share and Adjusted Net Income of $1.07 to $1.11 per diluted share
Expects to reduce quarterly dividend to $0.34 per share, $1.36 per share annualized
GEO
GEO
Forward Guidance
The company expects full-year 2020 revenues to be approximately $2.34 billion. For the third quarter of 2020, the company expects Net Income Attributable to GEO to be in a range of $0.25 to $0.27 per diluted share; Adjusted Net Income to be in a range of $0.28 to $0.30 per diluted share; and AFFO to be in a range of $0.58 to $0.60 per diluted share. For the fourth quarter of 2020, the company expects Net Income Attributable to GEO to be in a range of $0.18 to $0.20 per diluted share; Adjusted Net Income to be in a range of $0.19 to $0.21 per diluted share; and AFFO to be in a range of $0.50 to $0.52 per diluted share.