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BRIEF- GEO Group Reports Q1 Adjusted FFO Per Share Of $0.44

05/10/2021 07:48
BRIEF- GEO Group Reports Q1 Adjusted FFO Per Share Of $0.44

- GEO Group Inc GEO.N:

  • THE GEO GROUP REPORTS FIRST QUARTER 2021 RESULTS AND UPDATES FULL YEAR 2021 GUIDANCE

  • SEES FY ADJUSTED FFO PER SHARE $2.23 TO $2.31

  • Q1 ADJUSTED FFO PER SHARE $0.44

  • Q1 REVENUE $576.4 MILLION

  • SEES Q2 ADJUSTED FFO PER SHARE $0.57 TO $0.59

  • SEES Q2 REVENUE $558 MILLION TO $563 MILLION

  • SEES FY REVENUE $2.23 BILLION TO $2.25 BILLION

  • EXPECT THAT REMAINING SECURE SERVICES CONTRACTS WITH BOP WILL NOT BE RENEWED WHEN CURRENT CONTRACT PERIODS EXPIRE

  • SECURE SERVICES CONTRACTS WITH BOP ACCOUNTED FOR APPROXIMATELY 12% OF TOTAL REVENUES IN QUARTER

  • NOTIFIED BY USMS THAT IT WOULD NOT RENEW CONTRACT FOR COMPANY-OWNED QUEENS DETENTION FACILITY IN NEW YORK, WHICH ENDED ON MARCH 31

  • FOCUSED ON DEBT REDUCTION, DELEVERAGING, AND INTERNALLY FUNDING GROWTH

  • BOARD HAS DETERMINED TO UNDERTAKE AN EVALUATION OF GEO'S STRUCTURE AS A REIT.

Source text for Eikon: ID:nBw2kFhJGa

Further company coverage: GEO.N


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