GEO Group Boosts FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Tuesday, GEO Group Inc. (GEO) raised its earnings and revenue guidance for the full-year 2019. The company also maintained its earnings outlook for the fourth quarter, but trimmed its quarterly revenue guidance range.

For fiscal 2019, the company now projects earnings in a range of $1.45 to $1.47 per share, adjusted earnings in a range of $1.60 to $1.62 per share and AFFO in a range of $2.75 to $2.77 per share on total revenues of about $2.49 billion.

Previously, the company expected earnings in a range of $1.40 to $1.44 per share, adjusted earnings in a range of $1.53 to $1.57 per share and AFFO in a range of $2.69 to $2.73 per share on total revenues of about $2.47 billion.

For the fourth quarter, the company continues to expect earnings in a range of $0.37 to $0.39 per share, adjusted earnings in a range of $0.39 to $0.41 per share and AFFO in a range of $0.66 to $0.68 per share.

However, Geo trimmed its total revenue guidance for the fourth quarter to a range of $629 million to $634 million from the prior range between $630 million and $635 million.