GEO - Why Geo Group Stock Is Down Today
2023-04-25 14:24:41 ET
First-quarter earnings came in a little weak for Geo Group (NYSE: GEO) , and management's guidance suggested some potential downside to Wall Street's full-year expectations. Investors took note, sending shares of the private prison and mental health facility owner down by as much as 10% in Tuesday trading. As of 2:10 p.m. ET, the stock was still down by 5.1%.
Geo is a real estate investment trust ( REIT ) specializing in the design, financing, and development of secure facilities, immigration processing centers, and community reentry centers.
On Tuesday morning, the REIT reported first-quarter earnings of $0.19 per share on revenue of $608.2 million. The earnings number was a bit shy of the $0.22 per share estimate, though revenue beat the analysts' consensus by about $2 million.
For further details see:
Why Geo Group Stock Is Down Today