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Geo Group Q1 Adjusted FFO Up, Revenue Down; Updates Full-Year Outlook

05/10/2021 03:36

07:30 AM EDT, 05/10/2021 (MT Newswires) -- The Geo Group (GEO) reported Monday Q1 adjusted funds from operations of $0.60 per diluted share, up from $0.55 per share a year ago.

Revenue was $576.4 million, down from $605 million a year ago.

The company raised its full-year 2021 outlook for adjusted FFO to be between $2.23 and $2.31 from a range of $1.98 to $2.08.

Geo also lowered its revenue expectation to a range of $2.23 billion to $2.25 billion, down from the previous outlook of $2.24 billion to $2.27 billion.

For Q2, Geo Group expects revenue of $558 million to $563 million and adjusted FFO of $0.57 to $0.59 per share.

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