logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Industrial conglomerate General Electric Co. reported Tuesday a net loss for the fourth quarter compared to a profit last year, hurt by steep debt extinguishment costs and lower revenues. However, adjusted earnings per share topped analysts' expectations, while quarterly revenues missed them. Shares of LM Ericsson were gaining more than 7 percent in Swedish trading as well as in pre-market activity on Nasdaq, after the telecom equipment maker reported Tuesday higher profit and sales in its fourth quarter with strong demand. Further, the company lifted its full-year dividend, and maintained targets for fiscal 2022 EBIT growth as well as long-term target of EBITA margin. Twitter Inc. said it is expanding engineering center in Singapore, its Asia Pacific headquarters. The number of engineers there will be doubled to over 100 staff in 2023. Focused on product innovations and improvements, the new hires will work from Singapore on global initiatives for Twitter. These new technical hires will span roles in engineering, data science, machine learning and product...
Follow RTT