GEO - GEO Group AFFO of $0.60 beats by $0.27 revenue of $616.7M beats by $10.85M updates FY guidance

• GEO Group press release ( NYSE: GEO ): Q3 AFFO of $0.60 beats by $0.27 .
• Adjusted Net Income of $0.33 per diluted share
• Revenue of $616.7M (+10.7% Y/Y) beats by $10.85M .
• Guidance: We expect our fourth quarter 2022 Net Income Attributable to GEO to be in a range of $30 million to $32 million on quarterly revenues of $600 million to $605 million vs. consensus of $603.96M, and we increased our fourth quarter 2022 Adjusted EBITDA guidance to a range of $133 million to $140 million.
• We expect full year 2022 Net Income Attributable to GEO to be between $160 million and $162 million on annual revenues of approximately $2.36 billion from prior view of $2.35B vs. consensus of $2.35B. Excluding unusual and/or nonrecurring items, we expect full year 2022 Adjusted Net Income to be in a range of $1.30 to $1.32 per diluted share, and we increased our full year 2022 Adjusted EBITDA guidance to a range of $527 million to $533.5 million. We expect our effective tax rate for the full-year 2022 to be approximately 28 percent, exclusive of any discrete items.

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