News & Videos - GEO GROUP INC THE REIT

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) commented today on a ruling by the U.S. Court of Appeals for the Ninth Circuit in relation to the Nwauzor v. The GEO Group case (the “Nwauzor Case”). GEO is currently reviewing today’s decision in the Nwauzor Case. GEO remains steadfast in its position that participants in the federally mandated Voluntary Work Program (VWP) at the Tacoma ICE Facility are not GEO employees. The United States Department of Justice supported GEO...

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today a $70 million investment in capital expenditures to strengthen the Company’s capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring services to U.S. Immigration and Customs Enforcement (“ICE”). GEO is currently the largest service provider to ICE, currently providing approximately 21,000 detention beds (with a present census of 14,000) at 16 ICE Processing Centers...

The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported today its financial results for the second quarter and first six months of 2023. Second Quarter 2023 Highlights Total revenues of $593.9 million Net Income of $29.5 million Net Income Attributable to GEO of $0.20 per diluted share...

The GEO Group, Inc. (NYSE:GEO) ("GEO") will release its second quarter 2023 financial results on Wednesday, August 9, 2023 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Wednesday, August 9, 2023. Hosting the call for GEO will be George C. Zoley, Executive Chairman of the Board, Jose Gordo, Chief Executive Officer, Brian R. Evans, Senior Vice President and Chief Financial Officer, Wayne Calabrese, Senior Vice President and...

The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported today its financial results for the first quarter 2023. First Quarter 2023 Highlights Total revenues of $608.2 million Net Income of $28.0 million Net Income Attributable to GEO of $0.19 per diluted share Adjusted Net Income of $0.22 per...

The GEO Group, Inc. (NYSE:GEO) ("GEO") will release its first quarter 2023 financial results on Tuesday, April 25, 2023 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Tuesday, April 25, 2023. Hosting the call for GEO will be George C. Zoley, Executive Chairman of the Board, Jose Gordo, Chief Executive Officer, Brian R. Evans, Senior Vice President and Chief Financial Officer, Wayne Calabrese, Senior Vice President and Chief...

The GEO Group (NYSE: GEO) (“GEO”) announced today that its wholly-owned subsidiary, BI Incorporated (“BI”), has been awarded a new five-year contract, inclusive of renewal options, by Santa Clara County, California for the use of BI VeriWatch™ (“VeriWatch”), representing the first ever community corrections contract involving this new cutting-edge technology developed by BI. VeriWatch is a wrist-worn GPS tracking device that allows for real-time and discrete monitoring of...

The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported today its financial results for the fourth quarter and full year 2022. Fourth Quarter 2022 Highlights Total revenues of $620.7 million Net Income of $41.8 million Net Income Attributable to GEO of $0.28 per diluted share Adjusted Net...

The GEO Group, Inc. (NYSE:GEO) ("GEO") will release its fourth quarter 2022 financial results on Tuesday, February 14, 2023 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Tuesday, February 14, 2023. Hosting the call for GEO will be George C. Zoley, Executive Chairman of the Board, Jose Gordo, Chief Executive Officer, Brian R. Evans, Senior Vice President and Chief Financial Officer, Wayne Calabrese, Senior Vice President and...

The GEO Group (NYSE: GEO) (“GEO”) announced today that its Australian subsidiary, GEO Australia, has entered into a contract with the Department of Justice and Community Safety in the State of Victoria for the delivery of primary health services across 13 public prisons. The contract will commence on July 1, 2023, and is expected to generate approximately $33 million in incremental annualized revenue for GEO. George C. Zoley, GEO’s Executive Chairman of the Board, said, “We appreciate...

The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported today its financial results for the third quarter and first nine months of 2022. Third Quarter 2022 Highlights Total revenues of $616.7 million Net Income of $38.3 million Net Income Attributable to GEO of $0.26 per diluted share Adjusted...

The GEO Group, Inc. (NYSE:GEO) ("GEO") will release its third quarter 2022 financial results on Thursday, October 27, 2022 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Thursday, October 27, 2022. Hosting the call for GEO will be George C. Zoley, Executive Chairman of the Board, Jose Gordo, Chief Executive Officer, Brian R. Evans, Senior Vice President and Chief Financial Officer, James Black, President, GEO Secure Services,...

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) published today the company’s fourth annual Human Rights and Environmental, Social & Governance (ESG) report. The report includes enhanced disclosures related to our Board oversight of human rights and ESG matters, employee diversity and training programs, corporate governance, and environmental sustainability, including updated metrics and statistics for the calendar year 2021, in accordance with the new Universal Standards of...

The GEO Group (NYSE: GEO) (“GEO”) commented today on the favorable ruling by an en banc panel of the U.S. Court of Appeals for the Ninth Circuit (the “En Banc Court”) in relation to lawsuits filed by GEO and the United States for declaratory and injunctive relief challenging California’s enacted law, Assembly Bill 32 (“AB32”), which would have prohibited the operation of detention facilities in the state of California by private contractors, including contracted federal immigration...

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that it completed the sale of its equity investment interest in the government-owned Ravenhall Correctional Centre in Australia for approximately $84.4 million in gross proceeds, pre-tax. GEO will use the proceeds, along with available cash on hand, to repay all of the remaining $146.9 million outstanding principal of its Term Loan B and its Tranche 3 Term Loan, both due March 23, 2024 (the “2024 Term Loans”)....

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) has delivered a notice of redemption for all of the remaining $125,734,000 in outstanding aggregate principal amount of its 5.125% Senior Notes due April 1, 2023 (CUSIP No. 36159RAG8) (the “2023 Senior Notes”). The redemption of the 2023 Senior Notes will occur on October 6, 2022 (the “Redemption Date”). The redemption price for the 2023 Senior Notes will be equal to $1,000 per $1,000 original principal amount, plus any...

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that on Friday, August 19, 2022, the Company successfully closed the previously announced transactions (the “Transactions”) to comprehensively address the substantial majority of GEO’s outstanding debt. As previously disclosed, GEO’s new outstanding debt maturities are approximately $125 million in 2023; approximately $165 million in 2024; approximately $341 million in 2026; approximately $1.1 billion in...

The GEO Group, Inc. (NYSE:GEO) (“GEO” or the “Company”) today announced the final results of the previously announced Exchange Offers and Consent Solicitations (each as defined below) to exchange (the “Exchange Offers”) its outstanding (i) 5.125% Senior Notes due 2023 (the “2023 Notes”) and (ii) 5.875% Senior Notes due 2024 (the “2024 Notes” and, collectively with the 2023 Notes, the “Old Notes”) for newly issued 10.500% Senior Second Lien Secured Notes maturing on June...

The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) announced today that it successfully received the required participation and/or consents of its secured and unsecured creditors to close the previously announced transactions (the “Transactions”) to comprehensively address the substantial majority of GEO’s outstanding debt previously scheduled to mature in 2023, 2024 and 2026. GEO expects the closing of the Transactions to occur on Friday, August 19, 2022, subject to...

The GEO Group, Inc. (NYSE: GEO) (“GEO”), a leading provider of support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported today its financial results for the second quarter and first six months of 2022 and increased its financial guidance for the full year 2022. Second Quarter 2022 Highlights Total revenues of $588.2 million Net Income Attributable to GEO of...