GEO Group Reports Flat Q3 FFO

(RTTNews) - The GEO Group, Inc. (GEO) on Thursday reported Funds From Operations, or FFO, for the third quarter that remained flat with last year.

Normalized FFO for the three-month period was $62.8 million, or $0.52 per share, which remained unchanged from $62.8 million, or $0.52 per share in the comparable quarter last year.

Adjusted FFO (AFFO) for the quarter was $78.7 million, or $0.65 per share.

Net Income for the period was reported at $34.71 million or $0.24 per share, lower than $39.22 million or $0.33 per share in the same quarter a year ago.

Excluding items, earnings were $44 million or $0.36 per share.

Revenue for the quarter declined to $557.28 million from $579.14 million last year.

Looking forward to the fourth quarter, the company expects adjusted EPS of $0.37- $0.39 and AFFO of $0.65 per share-$0.67 per share.

For the full year, Adjusted EPS is expected in the range of $1.41 to $1.43 and AFFO to be in a range of $2.57 per share to $2.59 per share.