GEO Group Q3 Revenues Top Estimates; Backs FY23 Revenue Outlook

RTTNews | 1090 hari yang lalu
GEO Group Q3 Revenues Top Estimates; Backs FY23 Revenue Outlook

(RTTNews) - The GEO Group, Inc. (GEO) reported Tuesday that net income attributable to the company for the third quarter declined to $24.52 million or $0.16 per share from $38.34 million or $0.26 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.19 per share, compared to $0.33 per share in the year-ago quarter.

Total revenues for the quarter decreased to $602.8 million from $616.7 million in the same quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on revenues of $595.29 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company updated its outlook to reflect its updated expectations regarding the U.S. Department of Homeland Security's Intensive Supervision and Appearance Program.

Looking ahead to the fourth quarter, the company expects net income in a range of $19 million to $24 million on revenues between $590 million and $600 million. Previously, the company projected net income in the range of $19 million to $27 million on revenues between $595 million and $610 million. Analysts expect earnings of $0.21 per share on revenues of $606.76 million for the quarter.

For fiscal 2023, the company now projects earnings in a range of $0.80 to $0.85 per share on revenues of approximately $2.4 billion. Previously, the company expected earnings in the range of $0.78 to $0.89 per share on revenues of approximately $2.4 billion.

The Street is looking for earnings of $0.86 per share on revenues of $2.40 billion for the year.

baca selengkapnya
GEO Group Promotes CFO Brian Evans To Succeed Jose Gordo As CEO

GEO Group Promotes CFO Brian Evans To Succeed Jose Gordo As CEO

The GEO Group, Inc. (GEO) announced Thursday that Chief Executive Officer Jose Gordo will be departing as Chief Executive Officer and as a Board member on mutually agreeable terms and transitioning to the role of an advisor, effective December 31, 2023.
RTTNews | 1067 hari yang lalu
Indian Shares Rally As Crude Oil Eases

Indian Shares Rally As Crude Oil Eases

Indian shares opened on a buoyant note on Monday, with easing oil prices and renewed buying from foreign institutional investors amid concerns over the outlook for AI trade elsewhere globally helping underpin investor sentiment.
RTTNews | 2 jam 30 menit yang lalu
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Monday, reversing some of the gains in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling below the 8,850.00 level, with weakness in gold mining and financial stocks partially offset by gains in energy stocks.
RTTNews | 3 jam 34 menit yang lalu
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian markets are trading mixed on Monday, following the broadly negative cues from Wall Street on Friday, amid weakness in technology stock which mirrored their peers on tech-heavy Nasdaq on renewed concerns about the AI trade. Markets also keep an eye on the ongoing discussions between Qatari mediators and Iranian officials to end hostilities in the Middle East which could ease supply concerns.
RTTNews | 3 jam 47 menit yang lalu
Indian Shares Seen Higher As AI Selloff Deepens, Oil Prices Ease

Indian Shares Seen Higher As AI Selloff Deepens, Oil Prices Ease

Indian shares look set to open higher on Monday, with information technology stocks in the spotlight after the tech-heavy Nasdaq plunged to its lowest closing level in three months on Friday amid renewed concerns about the artificial intelligence trade. Additionally, ongoing discussions involving Iranian officials and Qatari mediators have raised hopes of possible breakthrough that could ease supply concerns and improve the outlook for global energy markets.
RTTNews | 4 jam 26 menit yang lalu
Thai Stock Market May Test Support At 1,500 Points

Thai Stock Market May Test Support At 1,500 Points

The Thai stock market has finished lower in four straight sessions, sliding more than 60 points or 3.7 percent in that span. The Stock Exchange of Thailand now sits just beneath the 1,520-point plateau and it's looking at another soft start again on Monday.
RTTNews | 4 jam 55 menit yang lalu