GEO Group shares rise after raised outlook and stronger first quarter
Updated
Updated · MarketWatch · May 6
GEO Group shares rise after raised outlook and stronger first quarter
8 articles · Updated · MarketWatch · May 6
The prison operator jumped 13% to $20.82 premarket after reporting Q1 profit of $38.3 million on revenue of $705.2 million, both above analyst expectations.
GEO lifted full-year guidance to $1.15-$1.25 a share on $2.95 billion-$3.1 billion revenue, up from prior forecasts of 99 cents-$1.07 and $2.9 billion-$3.1 billion.
Chief executive George Zoley cited 2025 contract wins worth up to $520 million in annualised revenue and said 2026 should stay active, though the stock had still lost about a third over the past year.
With profits soaring from government contracts, can GEO Group overcome the escalating legal challenges to its business model?
GEO Group's stock is booming, but what are the hidden human and financial costs behind its record revenues?