GEO Group Reports Lower Profit In Q1, Meets Estimates; But Revenue Increases

(RTTNews) - The GEO Group, Inc. (GEO), a security and protection services provider, Tuesday reported a profit of $28 million or $0.19 per share for the first quarter, lower than $38.22 million or $0.26 per share in the same quarter a year ago, hurt primarily by higher expenses.

Excluding one-time items, earnings were $0.22 per share, that meet the consensus estimate of analysts polled by Thomson-Reuters. Analysts' estimates typically exclude special items.

Revenue for the quarter, however, increased to $608.2 million from $551.2 million last year. Analysts were expecting revenue of $606.08 million.

Looking forward to the second quarter, the company sees revenue in the range of $585 million- $590 million. Analysts expect revenue of $611.3 million in the second quarter.

For the full year, revenues is expected between $2.38 billion and $2.46 billion. The consensus estimate stands at $2.46 billion.