GEO - GEO Group beats Q2 top and bottom line estimates; initiates Q3 Q4 and updates FY23 outlook
2023-08-09 06:05:39 ET
- GEO Group press release ( NYSE: GEO ): Q2 Non-GAAP EPS of $0.24 beats by $0.04 .
- Revenue of $593.9M (+1.0% Y/Y) beats by $5.63M .
- Adjusted EBITDA of $129.0 million.
- Outlook: We expect full-year GAAP Net Income to be between $95 million and $110 million, on annual revenues of approximately $2.4 billion vs. consensus of $2.43B. We expect our full-year 2023 Adjusted EBITDA to be between $490 million and $520 million. We expect our effective tax rate for the full-year 2023 to be approximately 29 percent, exclusive of any discrete items.
For the third quarter of 2023, we expect Net Income to be between $19 million and $26 million on quarterly revenues of $588 million to $603 million vs. consensus of $612.56M. We expect third quarter 2023 Adjusted EBITDA to be in a range of $115 million to $130 million.
For the fourth quarter of 2023, we expect Net Income to be between $19 million and $27 million on quarterly revenues of $595 million to $610 million vs. consensus of $621.56M. We expect fourth quarter 2023 Adjusted EBITDA to be in a range of $115 million to $130 million.
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GEO Group beats Q2 top and bottom line estimates; initiates Q3, Q4 and updates FY23 outlook