Friday, February 18, 2022

The GEO Group, Inc. (GEO)
Solid Performance in a Challenging Year

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

4Q21 Results. The GEO Group reported solid results for the fourth quarter of 2021. Total revenue for the quarter was $557.5 million compared to guidance of $554-$559 million. We were at $555 million. GEO reported AFFO of $0.65/sh, compared to guidance of $0.65/sh -$0.67/sh. We were at $0.58/sh. Adjusted earnings were $0.38/sh versus $0.33/sh last year.


Full Year 2021.  In a difficult year of COVID and non-renewal of contracts, revenue declined 4.0% to $2.26 billion. GAAP EPS was $0.58 and adjusted EPS was $1.32, compared to $0.94 and $1.30, respectively, in 2020. AFFO for 2021 was $2.48 per share, similar to the $2.51 in 2020. Adjusted EBITDA in 2021 was $466.9 million, up from $439.8 million last year …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.