GEO - GEO Group beats Q4 top and bottom line estimates; initiates Q1 and FY23 outlook

• GEO Group press release ( NYSE: GEO ): Q4 Non-GAAP EPS of $0.34 beats by $0.09 .
• Revenue of $620.7M (+11.3% Y/Y) beats by $16.3M .
• Adjusted EBITDA of $145.5M.
• 2023 Financial Guidance : "Today, we issued our initial financial guidance for 2023. We expect full year 2023 Net Income Attributable to GEO to be between $100 million and $127 million on annual revenues of between $2.37 billion and $2.47 billion $2.47B consensus. Our GAAP Net Income guidance for 2023 reflects an expected increase in our net interest expense of approximately $67 million, due to rising interest rates and the debt restructuring transactions we completed in August of 2022. We expect our full year 2023 Adjusted EBITDA to be between $500 million and $540 million."

• For the first quarter of 2023, we expect Net Income Attributable to GEO to be between $26 million and $28 million on quarterly revenues of $605 million to $610 million vs $612.28M consensus, and we expect our first quarter 2023 Adjusted EBITDA to be in a range of $127 million and $132 million.

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