GEO - The GEO Group (GEO) - Continuing to Outperform Expectations
2Q22 Results. Sounding like a broken record, GEO posted above expected operating results for 2Q22. Revenue for the quarter came in at $588.2 million, up from $565.4 million a year ago. Adjusted EBITDA totaled $132.3 million, AFFO was $0.69 per diluted share, EPS was $0.37, and adjusted net income $0.42 per share. In the year ago period, GEO reported $118.4 million, $0.71, $0.29, and $0.41, respectively. We had forecast $560 million, $98.5 million, $0.58, $0.32, and $0.32, respectively. GEO's results highlight the resiliency of the business model, in our opinion.Drivers. Many parts of GEO's business continue to show operating strength, driving the better than expected performance. BI continues to be an exceptional performer, while the Secured Services continues to perform even in the face of various headwinds. Read More >>