GEO - GEO Group Non-GAAP EPS of $0.22 in-line revenue of $608.2M beats by $2.13M
2023-04-25 06:02:52 ET
- GEO Group press release ( NYSE: GEO ): Q1 Non-GAAP EPS of $0.22 in-line.
- Revenue of $608.2M (+10.3% Y/Y) beats by $2.13M .
- Reduced net debt by approximately $70 million in 1Q23
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Updated financial guidance for 2023. Expects full year 2023 Net Income to be between $105 million and $125 million on annual revenues of between $2.38 billion and $2.46 billion. GAAP Net Income guidance for 2023 reflects an expected increase in our net interest expense of approximately $67 million, due to higher interest rates and the debt restructuring transactions we completed in August of 2022. Expect effective tax rate for the full year 2023 to be approximately 29 percent, exclusive of any discrete items.
Expect full year 2023 Adjusted EBITDA to be between $507 million and $537 million.
For the second quarter of 2023, we expect Net Income to be between $24 million and $26 million on quarterly revenues of $585 million to $590 million ($611.32M consensus), and we expect our second quarter 2023 Adjusted EBITDA to be in a range of $124 million and $129 million.
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GEO Group Non-GAAP EPS of $0.22 in-line, revenue of $608.2M beats by $2.13M