Geo Group Posts Q2 FFO In Line, Misses on Revenue

Geo Group reported Monday financial results for Q2, with lower-than-expected revenue and funds from operations that matched analysts’ estimates. It also provided guidance for Q3, Q4 and fiscal 2017.The real estate investment trust and provider of evidence-based offender rehabilitation and community reentry services posted adjusted FFO of $0.61 per share, flat with the prior-year period and in line with the Capital IQ consensus estimate.

Revenue was $577.1 million, up from $548.4 million in the same quarter last year. The Street view is for revenue of $584.7 million. The company now expects fiscal 2017 adjusted FFO of $2.50 – $2.54 per share on revenue of about $2.24 billion. The Street view is for FFO of $2.52 per share on revenue of $2.29 billion. For Q3, it sees adjusted FFO of $0.61 – $0.63 on revenue of $554 million – $559 million. Analysts are looking for $0.64 FFO per share on revenue of $579 million.

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