Nov 5, 6:30 AM ET
GEO Group reported third-quarter 2026 revenue of $761.1 million, up 12% from a year earlier, and adjusted net income of $51.8 million, up 48%. GAAP net income fell to $49.2 million from $173.9 million, which included a prior-year gain on asset divestitures. The company raised its full-year 2026 guidance for net income, adjusted net income and adjusted EBITDA, and disclosed a $950 million sale of the Adelanto Complex to ICE.
- Q3 2026 revenue was $761.1 million versus $682.3 million in Q3 2025; GAAP diluted EPS was $0.37 versus $1.24
- Q3 2026 adjusted net income was $51.8 million, or $0.39 per diluted share, versus $35.0 million, or $0.25, a year earlier
- FY26 adjusted net income guidance raised to $185 million to $190 million ($1.40 to $1.44 per diluted share); adjusted EBITDA guidance raised to $568 million to $573 million
- Share repurchase authorization raised by $750 million to $1.25 billion; about $1.07 billion remained available as of November 5, 2026
Read the filing on SEC.gov ↗
Oct 8, 4:31 PM ET
GEO Group delivered a notice to redeem all $650.0 million of its 8.625% Senior Secured Notes due 2029, at about $678 million plus accrued interest, on October 15, 2026. The company said it will fund the redemption with net proceeds from recently announced asset sales. A new credit agreement extends the $550.0 million revolving facility to July 14, 2031 and allows unlimited share repurchases if the total leverage ratio is 2.25 to 1.00 or lower, which matters to shareholders because it expands the company's capacity to buy back stock.
- Redemption of $650.0 million 2029 Senior Secured Notes at $1,043.13 per $1,000 principal, about $678 million, on October 15, 2026
- Amended and Restated Credit Agreement closed October 5, 2026; $550.0 million revolver maturity extended to July 14, 2031
- Share repurchases permitted without limit if pro forma total leverage ratio is 2.25 to 1.00 or lower and no default exists
- Board approved a $750 million increase in the share repurchase program, from $500 million to $1.25 billion, effective through December 31, 2029
Read the filing on SEC.gov ↗
Oct 5, 6:57 AM ET
GEO Group sold three Adelanto, California facilities totaling 2,644 beds to the Department of Homeland Security for $950 million, and expects about $705 million in net proceeds after taxes and fees. Its board also raised the share repurchase authorization by $750 million to $1.25 billion, and the company plans to use the proceeds to reduce debt, repurchase shares and for general corporate purposes, which matters to shareholders because it changes how capital will be deployed.
- Adelanto West (1,280 beds), Adelanto East (660 beds) and Desert View Annex (704 beds) sold for $950 million; the sale was completed concurrently with the October 2, 2026 agreement.
- Company anticipates about $705 million in net proceeds after federal and state taxes and transaction fees and expenses.
- GEO expects to keep providing support services under its ICE contract, which runs through December 19, 2034, including the current term ending December 19, 2029 and a five-year option period; ICE can terminate for non-appropriation or conve
- Repurchase authorization increased from $500 million to $1.25 billion, effective through December 31, 2029; no definitive agreement or timeline exists for other facility sales to ICE.
Read the filing on SEC.gov ↗
Aug 6, 6:30 AM ET
GEO Group reported second-quarter 2026 revenue of $732.1 million, up 15% from a year earlier, and net income attributable to GEO Operations of $47.5 million, or $0.36 per diluted share, up from $0.21. The company raised its full-year 2026 net income and Adjusted EBITDA guidance and issued third- and fourth-quarter guidance, which shareholders can use to gauge expected earnings through year-end.
- Q2 2026 revenue was $732.1 million versus $636.2 million in Q2 2025; net income attributable to GEO Operations was $47.5 million ($0.36 per diluted share) versus $29.1 million ($0.21).
- Full-year 2026 net income guidance was raised to $168 million-$175 million ($1.27-$1.32 per diluted share); Adjusted EBITDA guidance was raised to $550 million-$560 million.
- Third-quarter 2026 net income is expected at $45 million-$48 million; fourth-quarter 2026 net income at $37 million-$41 million.
- GEO repurchased about 1.6 million shares for $36.6 million in Q2 2026, leaving about $323 million of repurchase authorization.
Read the filing on SEC.gov ↗
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