What's Going On With Security Company GEO Group Stock Today?
Portfolio Pulse from Lekha Gupta
The GEO Group, Inc. (NYSE:GEO) shares are trading higher after reporting mixed Q2 FY24 results. Revenue missed estimates, but adjusted EPS exceeded expectations. The company completed a comprehensive refinancing of its debt and received a task order from ICE. GEO revised its FY24 outlook, lowering EPS and EBITDA projections.
August 07, 2024 | 12:55 pm
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GEO Group reported mixed Q2 FY24 results with revenue missing estimates but adjusted EPS exceeding expectations. The company completed a comprehensive refinancing of its debt and received a task order from ICE. GEO revised its FY24 outlook, lowering EPS and EBITDA projections.
Despite missing revenue estimates and lowering FY24 outlook, GEO Group's stock is trading higher due to exceeding EPS expectations and completing significant debt refinancing. The ICE task order also adds a positive operational outlook.
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