GEO Group Issues Initial 2022 Financial Guidance - Quick Facts

(RTTNews) - The GEO Group, Inc. (GEO) said, for 2022, the company expects net income attributable to GEO and adjusted net income both to be in a range of $0.99 to $1.07 per share on annual revenues of approximately $2.17 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.09 on revenue of $2.18 billion.

Full year 2022 AFFO is projected to be in a range of $2.05 to $2.13 per share, and full year 2022 adjusted EBITDA to be in a range of $422 million to $438 million.

For the first quarter 2022, the company expects net income to GEO and adjusted net income both to be between $0.21 and $0.23 per share, and AFFO to be between $0.48 and $0.50 per share, on quarterly revenues of $550 million to $555 million. Analysts expect the company to report profit per share of $0.24 on revenue of $541.32 million.

Due to tax related corporate restructuring items, the company posted a fourth quarter net loss attributable to GEO of $49.8 million, or $0.41 per share, compared to net income attributable to GEO of $11.9 million, or $0.10 per share, prior year. Adjusted net income was $45.5 million, or $0.38 per share, compared to $39.3 million, or $0.33 per share, last year.

AFFO was $78.4 million, or $0.65 per share, compared to $74.6 million, or $0.62 per share, a year ago.

Fourth quarter total revenues were $557.5 million compared to $578.1 million, prior year.