GEO Group Reports Flat Q3 FFO

The GEO Group, Inc. (GEO) on Thursday reported Funds From Operations, or FFO, for the third quarter that remained flat with last year.

Normalized FFO for the three-month period was $62.8 million, or $0.52 per share, which remained unchanged from $62.8 million, or $0.52 per share in the comparable quarter last year.

Adjusted FFO (AFFO) for the quarter was $78.7 million, or $0.65 per share.

Net Income for the period was reported at $34.71 million or $0.24 per share, lower than $39.22 million or $0.33 per share in the same quarter a year ago.

Excluding items, earnings were $44 million or $0.36 per share.

Revenue for the quarter declined to $557.28 million from $579.14 million last year.

Looking forward to the fourth quarter, the company expects adjusted EPS of $0.37- $0.39 and AFFO of $0.65 per share-$0.67 per share.

For the full year, Adjusted EPS is expected in the range of $1.41 to $1.43 and AFFO to be in a range of $2.57 per share to $2.59 per share.

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