Thursday, December 12, 2024
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, CFA, 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.
NobleCon20. The GEO Group CEO Brian Evans presented at NobleCon20. Highlights included potentially improving segment trends, an aging prison infrastructure, and reducing debt to be more flexible. A rebroadcast is available at https://www.channelchek.com/videos/the-geo-group-noblecon20-replay.
Segment Trends. With the new Trump administration approaching in January, management notes the administration’s immigration enforcement policies may positively impact its detention capacity, electronic monitoring, and secure transportation businesses. GEO remains poised to capitalize on any increase in detention and/or enhanced supervision with roughly 8,000 beds at existing facilities and 10,000 beds at six company-owned currently idle facilities. In addition, ISAP populations were roughly double today’s level two years ago.
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