Geo Group: Q2 Earnings Snapshot – mySA

BOCA RATON, Fla. (AP) _ Geo Group Inc. (GEO) on Tuesday reported a key measure of profitability in its second quarter.

The Boca Raton, Florida-based real estate investment trust said it had funds from operations of $84.2 million, or 69 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $53.7 million, or 37 cents per share.

The private prison operator, based in Boca Raton, Florida, posted revenue of $588.2 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $561.5 million.

For the current quarter ending in October, Geo Group expects its per-share funds from operations to range from 55 cents to 57 cents.

The company expects full-year funds from operations in the range of $2.40 to $2.46 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEO at https://www.zacks.com/ap/GEO

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