Wednesday, May 31, 2023
The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 103 facilities totaling approximately 83,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , 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.
NDRS. We hosted GEO CEO Jose Gordo, CFO Brian Evans, and EVP Pablo Paez for two days of well attended investor meetings in Florida last week. In addition to the normal overview of the business, management provided some commentary on the early days of post Title 42.
Perspective. While news headlines made much noise about daily border crossings being below the pre-May 11th 10,000 daily level, the roughly 5,000 daily level would be a record level sans the pre-May 11th 10,000 number. And the 5,000/day level still translates into over 1.8 million people annually.
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