The GEO Group Earnings: Here’s Why the Stock is Up Now
The GEO Group, Inc. (NYSE:GEO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.19%.
The GEO Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 17.07% to $0.48 in the quarter versus EPS of $0.41 in the year-earlier quarter.
Revenue: Decreased 7.45% to $381.65 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The GEO Group, Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $381.18 million.
Quoting Management: George C. Zoley, Chairman and Chief Executive Officer of GEO, said: “We are pleased with our second quarter results, which continue to reflect strong operational and financial performance from our diversified business units. During the second quarter, we achieved several important milestones with the purchase of the Joe Corley Detention Center in Montgomery County, Texas and the amendment of our senior credit facility. We continue to be optimistic regarding the growth opportunities in our industry which we expect will continue to create value for our shareholders.”
Key Stats (on next page)…
Revenue increased 1.23% from $377.03 million in the previous quarter. EPS increased 26.32% from $0.38 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.44 and has not changed. For the current year, the average estimate has moved down from a profit of $1.72 to a profit of $1.69 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)