GEO - GEO Group exceeds Q2 consensus raises FY2022 outlook

August, 02 2022 06:07 AM Geo Group Inc REIT

GEO Group press release ( NYSE: GEO ): Q2 FFO of $0.69 beats by $0.39 ; Non-GAAP EPS of $0.42 beats by $0.11 .
Revenue of $588.18M (+4.0% Y/Y) beats by $26.68M .
FY2022 net income to be between $158M and $166M on annual revenues of approximately $2.35B vs. consensus of $2.22B. Adjusted EPS to be in a range of $1.28 to $1.34 per diluted share. AFFO to be in a range of $2.40 to $2.46 per diluted share vs. consensus of $1.22 and Adjusted EBITDA to be in a range of $515M to $530M. Tax rate to be ~28%.
For 3Q22, net income to be between $39M and $42M on quarterly revenues of $603M to $608M vs. consensus of $555.80M. AFFO to be between $0.55 and $0.57 per diluted share vs. consensus of $0.29 and Adjusted EBITDA to be between $131M and $138M.
For 4Q22, net income to be between to be between $27M and $32M on quarterly revenues of $600M to $605M vs. consensus of $552.76M. AFFO to be between $0.52 and $0.56 per diluted share vs. consensus of $0.31 and Adjusted EBITDA to be between $127M and $135M.

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