Geo Group: 3Q Earnings Snapshot
BOCA RATON, Fla. (AP) _ Geo Group Inc. (GEO) on Thursday reported a key measure of profitability in its third quarter.
The Boca Raton, Florida-based real estate investment trust said it had funds from operations of $80.6 million, or 67 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $39.2 million, or 33 cents per share.
The private prison operator, based in Boca Raton, Florida, posted revenue of $579.1 million in the period.
For the current quarter ending in December, Geo Group expects its per-share funds from operations to range from 55 cents to 57 cents.
The company expects full-year funds from operations in the range of $2.43 to $2.45 per share.
The company's shares have declined 51% since the beginning of the year. The stock has decreased 48% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GEO at https://www.zacks.com/ap/GEO
