Government Service Provider GEO Group Shares Are Higher Today: What's Going On?
Portfolio Pulse from Lekha Gupta
The GEO Group Inc (NYSE:GEO) reported Q4 FY23 revenue of $608.3 million, surpassing the consensus of $597.5 million. Adjusted EBITDA decreased to $129.0 million from $145.5 million a year ago, while adjusted EPS of $0.29 beat the consensus of $0.18. The company reduced its total net debt by $197.0 million, ending the year with $1.78 billion in total net debt. Cash and cash equivalents were $93.97 million as of December 31, 2023. GEO expects Q1 revenue between $600 million and $610 million, and FY24 net income between $110 million and $125 million, with revenues around $2.4 billion. Shares are up 6.59% at $11.84.
February 15, 2024 | 6:13 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The GEO Group Inc reported higher than expected Q4 FY23 revenue and adjusted EPS, reduced total net debt, and provided positive guidance for Q1 and FY24.
The positive earnings report, surpassing consensus estimates for both revenue and adjusted EPS, along with significant debt reduction and optimistic future guidance, are likely to instill investor confidence and drive short-term positive momentum in GEO's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100