GEO Group Clocks 3.6% Revenue Decline In Q4

  • GEO Group Inc GEO reported a fourth-quarter revenue decline of 3.6% year-over-year to $557.54 million, missing the consensus of $558.09 million.
  • The operating income increased by 73.9% Y/Y to $76.02 million, and the margin expanded by 608 bps to 13.6%.
  • Adjusted EPS improved to $0.38 from $0.33 a year ago. AFFO per share was $0.65 compared to $0.62 a year ago.
  • Adjusted EBITDAre increased by 14.9% Y/Y to $124.1 million, and margin expanded by 360 bps to 22.3%.
  • At the end of 2021, the company held ~$506 million in cash on hand.
  • 1Q22 Outlook: GEO Group expects adjusted EPS of $0.21 - $0.23 and AFFO of $0.48 - $0.50 per share. It expects quarterly revenues of $550 million - $555 million.
  • FY22 Outlook: The company expects adjusted EPS of $0.99 - $1.07 and revenues of ~$2.17 billion. It expects AFFO to be $2.05 - $2.13 per share and Adjusted EBITDA of $422 million - $438 million.
  • Price Action: GEO shares are trading higher by 0.76% at $6.60 during the premarket session on Thursday.

Posted In: BriefsEarningsNewsGuidanceSmall Cap

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