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The GEO Group, Inc. (GEO) is a global leader in providing correctional, detention management, and community reentry services to federal, state, and local government agencies. With a robust presence in the United States, Australia, South Africa, and the United Kingdom, GEO offers a diversified array of turnkey solutions that include the design, construction, financing, and operation of correctional facilities.
The GEO Group is renowned for its comprehensive approach, integrating state-of-the-art designs, innovative programs, and ground-breaking treatment methods. As the first fully-integrated equity Real Estate Investment Trust (REIT) specializing in these areas, GEO strives to deliver high-quality and cost-effective services aimed at helping clients manage and rehabilitate those in their care.
GEO's operations are segmented into four key areas:
- U.S. Secure Services: Focuses on providing secure management services within the United States.
- Electronic Monitoring and Supervision Services: Offers monitoring and evidence-based supervision programs for community-based parolees, probationers, and pretrial defendants.
- Reentry Services: Provides both residential and non-residential treatment, educational, and community-based programs, including pre-release and halfway house services.
- International Services: Encompasses GEO's operations outside of the United States, offering similar services in various countries.
GEO Group's achievements are underscored by their commitment to quality and innovation. Recent projects and partnerships reflect their dedication to enhancing service delivery and effectiveness. Financially, the company continues to maintain a stable condition, evident from their consistent performance in the stock market. They have effectively leveraged partnerships and collaborations to expand their service offerings and improve operational efficiency.
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The GEO Group, Inc. (NYSE:GEO) has announced the date for its first quarter 2024 earnings release and conference call. The financial results will be released on Tuesday, May 7, 2024, before the market opens, with a conference call at 11:00 AM (Eastern Time) on the same day. The call will be hosted by key executives of GEO, including the Executive Chairman, CEO, CFO, President, and other senior officials. Participants can join the call through designated numbers or access a live webcast on GEO's investor relations home page. Both webcast and telephonic replays will be available for a specified period.
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The GEO Group has closed a senior notes offering and a new term loan, raising approximately $1.67 billion in net proceeds. The offering included $1.275 billion in senior notes and a $450 million term loan. GEO plans to use the proceeds to refinance existing debt, including various loans and notes, and for general corporate purposes.
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The GEO Group (GEO) has entered into private exchange agreements with certain Noteholders to exchange $177 million in 6.50% Exchangeable Senior Notes for a total estimated valuation of $305 million, consisting of cash and common stock. The exchange value will be determined based on the stock's average price over 20 trading days. GEO plans to fund the cash portion with proceeds from a recent notes offering. Approximately 77% of the outstanding notes will be exchanged, leaving $53 million remaining.
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The GEO Group (GEO) has priced a private offering of $1.275 billion aggregate principal amount of senior notes, including Secured Notes and Unsecured Notes. The company also priced a new $450.0 million Term Loan, expected to result in net proceeds of approximately $1.67 billion. The funds will be used to refinance existing indebtedness and for other corporate purposes.
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The GEO Group (GEO) plans to issue $1.2 billion in senior notes to refinance existing debt, with proceeds used for various corporate purposes. The offering is exempt from registration requirements and targets qualified institutional buyers in the US and non-US persons.
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The GEO Group (GEO) initiates a refinancing process for its Term Loans, targeting $1.6 billion in secured and unsecured financing. $906.7 million of Term Loans were outstanding as of December 31, 2023. The company aims to repay existing debts and utilize the funds for general corporate purposes.
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The GEO Group (NYSE: GEO) announces a five-year contract to provide air operations support services for U.S. Immigration and Customs Enforcement (ICE), generating an estimated $25 million in annual revenues. The contract is awarded to GEO Transport, Inc. as a subcontractor to CSI Aviation, Inc., a veteran-owned aviation services company.
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The GEO Group, Inc. reported financial results for Q4 and full year 2023, highlighting total revenues of $2.41 billion, net income of $113.8 million, and adjusted EBITDA of $507.2 million. They reduced total net debt by $197.0 million in FY23. The company issued initial financial guidance for 2024, expecting net income between $110 million to $125 million and adjusted EBITDA between $485 million to $515 million. The guidance factors in uncertainties related to federal government appropriations discussions and budgetary pressures.
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The GEO Group, Inc. announces the redemption of its 5.875% Senior Notes due 2024, totaling $23,253,000, on March 11, 2024, at a redemption price of $1,000 per $1,000 original principal amount.
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The GEO Group, Inc. (NYSE:GEO) will release its fourth quarter 2023 financial results on Thursday, February 15, 2024 before the market opens. A conference call and webcast are scheduled for 11:00 AM (Eastern Time) on the same day. The call will be hosted by key executives of GEO, including the Executive Chairman, CEO, and other top officers. Participants can access the call and webcast through specified phone numbers and the investor relations home page. Both webcast and telephonic replays will be available for a year and until February 22, 2024, respectively.
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FAQ
What is the current stock price of The GEO Group (GEO)?
The current stock price of The GEO Group (GEO) is $27.81 as of November 20, 2024.
What is the market cap of The GEO Group (GEO)?
The market cap of The GEO Group (GEO) is approximately 3.8B.
What services does The GEO Group, Inc. offer?
The GEO Group provides correctional, detention management, and community reentry services, including design, construction, financing, and operations.
Where does The GEO Group operate?
The GEO Group operates in the United States, Australia, South Africa, and the United Kingdom.
What are the main segments of The GEO Group's operations?
The GEO Group's operations are divided into U.S. Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services.
What is unique about The GEO Group's approach?
The GEO Group integrates state-of-the-art designs, innovative programs, and ground-breaking treatment methods to deliver high-quality, cost-effective services.
Is The GEO Group a Real Estate Investment Trust?
Yes, The GEO Group is the first fully-integrated equity Real Estate Investment Trust specializing in correctional, detention, and community reentry facilities.
What recent achievements has The GEO Group made?
The GEO Group has seen recent achievements in expanding service offerings and improving operational efficiency through various partnerships and projects.
How does The GEO Group support community reentry?
The GEO Group offers residential and non-residential treatment, educational programs, pre-release, and halfway house services to support community reentry.
What is The GEO Group's financial condition?
The GEO Group maintains a stable financial condition, as evidenced by consistent stock market performance and effective leveraging of partnerships.
How does The GEO Group ensure quality service?
The GEO Group ensures quality service through their state-of-the-art designs, innovative programs, and ground-breaking treatment approaches.
What is the mission of The GEO Group?
The mission of The GEO Group is to help clients manage and rehabilitate individuals in their care through diversified services and innovative solutions.
The GEO Group, Inc.
NYSE:GEO
GEO Rankings
GEO Stock Data
3.76B
132.79M
4.74%
79.56%
3.95%
Security & Protection Services
General Bldg Contractors - Residential Bldgs
United States of America
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