GEO Group Q3 Profit Rises - Quick Facts

(RTTNews) - The GEO Group, Inc. (GEO), a provider of diversified correctional, detention, and community reentry services, reported third-quarter net income attributable to company of $29.90 million or $0.42 per share, compared to $15.62 million or $0.25 per share, last year. Income per share from continuing operations was $0.45, compared to $0.25, a year ago.

Funds from operations was $45.28 million, compared to $28.22 million, a year ago. Normalized FFO per share was $0.59, compared to $0.55, prior year. AFFO per share was $0.72, compared to $0.64, previous year.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.43 for the quarter. Analysts' estimates typically exclude special items.

Revenues rose to $379.84 million, from $369.12 million, a year ago. Analysts expected revenue of $382.08 million for the quarter.

GEO confirmed its fourth-quarter revenue guidance in a range of $378 million to $383 million. GEO confirmed its AFFO guidance for the fourth quarter in a range of $0.70 to $0.73 per share. GEO expects fourth-quarter income from continuing operations to be in a range of $0.29 to $0.31 per share. Analysts expect fourth-quarter profit per share of $0.44.

GEO expects its full year 2013 AFFO guidance to be in a range of $2.85 to $2.88 per share. On a GAAP basis, GEO expects its income from continuing operations for the full year 2013 to be in a range of $1.54 to $1.56 per share. Analysts expect full year profit per share of $1.68.