Geo Group: Q2 Earnings Snapshot

Associated Press Finance
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BOCA RATON, Fla. (AP) — BOCA RATON, Fla. (AP) — Geo Group Inc. (GEO) on Wednesday reported second-quarter earnings of $29.6 million.

The Boca Raton, Florida-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time items, came to 24 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The private prison operator posted revenue of $593.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $588.3 million.

For the current quarter ending in September, Geo Group said it expects revenue in the range of $588 million to $603 million.

The company expects full-year revenue of $2.4 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEO at https://www.zacks.com/ap/GEO

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