The GEO Group Inc. Q3 Profit Increases, but misses estimates

(RTTNews) - The GEO Group Inc. (GEO) released a profit for its third quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $38.34 million, or $0.26 per share. This compares with $34.71 million, or $0.24 per share, in last year's third quarter.

Excluding items, The GEO Group Inc. reported adjusted earnings of $40.17 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $616.68 million from $557.28 million last year.

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

-Earnings (Q3): $38.34 Mln. vs. $34.71 Mln. last year. -EPS (Q3): $0.26 vs. $0.24 last year. -Analyst Estimate: $0.34 -Revenue (Q3): $616.68 Mln vs. $557.28 Mln last year.

-Guidance: Next quarter revenue guidance: $600 - $605 Mln Full year EPS guidance: $1.30 - $1.32 Full year revenue guidance: $2.36 Bln