GEO Group Backs Q4 Earnings Guidance, Updates Full-year Outlook - Quick Facts

(RTTNews) - While reporting its financial results for the third quarter today, GEO Group Inc. (GEO) affirmed its outlook for fourth-quarter adjusted earnings and adjusted funds from operations, while raising its revenue outlook. The company also updated its financial guidance for fiscal 2015.

For the fourth quarter 2015, GEO now expects total revenues to be in a range of $512.0 million to $517.0 million, up from the prior range of $509.0 million to $514.0 million.

However, GEO affirmed its outlook for fourth-quarter AFFO in a range of $0.91 to $0.93 per share and adjusted earnings of $0.54 to $0.56 per share.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share on revenues of $508.11 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2015, GEO updated its forecast for total revenues in a range of $1.855 billion to $1.860 billion, compared to the prior range of $1.855 billion to $1.865 billion.

GEO also tightened its outlook for full-year 2015 AFFO to a range of $3.31 to $3.33 per share from the prior range of $3.30 to $3.34 per share. GEO now expects adjusted earnings for the full year in a range of $1.92 to $1.94 per share, compared to the prior range of $1.90 to $1.94 per diluted share.

The Street expects the company to report earnings of $2.93 per share for the year on revenues of $1.86 billion.

GEO Group said its board of directors declared a quarterly cash dividend of $0.65 per share. The quarterly cash dividend will be paid on November 25, 2015 to shareholders of record as of the close of business on November 16, 2015.