The GEO Group Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - The GEO Group Inc. (GEO) reported a profit for its second quarter that increased from the same period last year but beat the Street estimates.

The company's bottom line totaled $53.73 million, or $0.37 per share. This compares with $41.96 million, or $0.29 per share, in last year's second quarter.

Excluding items, The GEO Group Inc. reported adjusted earnings of $50.97 million or $0.42 per share for the period.

Analysts on average had expected the company to earn $0.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.0% to $588.18 million from $565.42 million last year.

The GEO Group Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $53.73 Mln. vs. $41.96 Mln. last year. -EPS (Q2): $0.37 vs. $0.29 last year. -Analyst Estimate: $0.31 -Revenue (Q2): $588.18 Mln vs. $565.42 Mln last year.

-Guidance: Next quarter revenue guidance: $603 - $608 Mln Full year EPS guidance: $1.28 - $1.34 Full year revenue guidance: $2.35 Bln