GEO - GEO Group FFO beats by $0.08 beats on revenue

GEO Group (NYSE:GEO): Q2 FFO of $0.58 beats by $0.08; AFFO of $0.70 per diluted share. Revenue of $565.42M (-3.8% Y/Y) beats by $4.24M. Updated 2021 Guidance: Net Income Attributable to GEO of $167.5-$174.5 Million; Adjusted EBITDAre of $441.5-$448.5 Million; AFFO of $2.51-$2.57 per diluted share. Our better-than-expected financial performance during the second quarter 2021 was driven by continued favorable cost trends; higher occupancies at our facilities for the U.S. Marshals Service and U.S. Immigration and Customs Enforcement; and increased revenue and earnings from our electronic monitoring segment. Shares -0.29% PM. Press Release

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GEO Group FFO beats by $0.08, beats on revenue