GEO Q3 2020 Earnings Report
Key Takeaways
The GEO Group reported third quarter 2020 net income attributable to GEO of $39.2 million, or $0.33 per diluted share, and total revenues of $579.1 million. The company experienced favorable cost trends, but continues to face operational and financial challenges associated with the COVID-19 pandemic. Updated FY20 guidance was provided, with Net Income Attributable to GEO of $1.07-$1.09 per diluted share and Adjusted Net Income of $1.21-$1.23 per diluted share.
Reported third quarter 2020 net income attributable to GEO of $0.33 per diluted share
Reported third quarter 2020 AFFO of $0.67 per diluted share
Updated FY20 guidance for Net Income Attributable to GEO of $1.07-$1.09 per diluted share and Adjusted Net Income of $1.21-$1.23 per diluted share
Updated FY20 AFFO guidance of $2.43-$2.45 per diluted share
GEO
GEO
Forward Guidance
For the fourth quarter 2020, the company expects Net Income Attributable to GEO to be in a range of $0.23 to $0.25 per diluted share; Adjusted Net Income to be in a range of $0.24 to $0.26 per diluted share; and AFFO to be in a range of $0.55 to $0.57 per diluted share. For the full year 2020, the company expects Net Income Attributable to GEO to be in a range of $1.07 to $1.09 per diluted share; Adjusted Net Income to be in a range of $1.21 to $1.23 per diluted share; and AFFO to be in a range of $2.43 to $2.45 per diluted share. The company expects full year 2020 revenues to be approximately $2.35 billion.