Geo Group: 2Q Earnings Snapshot
BOCA RATON, Fla. (AP) _ Geo Group Inc. (GEO) on Tuesday reported a key measure of profitability in its second quarter.
The Boca Raton, Florida-based real estate investment trust said it had funds from operations of $83.4 million, or 70 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $41.9 million, or 35 cents per share.
The private prison operator, based in Boca Raton, Florida, posted revenue of $614 million in the period.
Geo Group expects full-year funds from operations in the range of $2.69 to $2.73 per share.
The company’s shares have fallen 17% since the beginning of the year. The stock has fallen 36% in the last 12 months.