GEO Group (GEO) Gets Boost Ahead of Q2 Earnings
We recently published 10 Shares Explode as Earnings Impress. The GEO Group, Inc. (NYSE:GEO) is one of the best-performing stocks on Friday.
The GEO Group grew its share prices by 6.31 percent on Friday to close at $26.10 apiece as investors gobbled up shares ahead of the results of its second-quarter earnings performance.
According to the company, it is scheduled to release its financial and operating highlights at 11 AM on Wednesday, August 6. An investor call will be held at the same time to elaborate on the results.
Earlier this year, The GEO Group, Inc. (NYSE:GEO) said that it was targeting diluted earnings per share for the second quarter of the year to settle within the range of $0.15 to $0.17 on quarterly revenues of $615 million to $625 million.
Adjusted EBITDA was also pegged at $110 million to $114 million.
In other recent news, The GEO Group, Inc. (NYSE:GEO) announced the $60 million acquisition of a 770-bed Western Region Detention Facility in San Diego, which it currently leases for $5.1 million annually.
Its original lease contract was supposed to expire in March 2029.
The facility alone generates $57 million in revenues yearly.
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