Supplemental Information
Third Quarter and YTD 2021
The GEO Group, Inc.'s ("GEO") Unaudited Reconciliation Tables and Supplemental Disclosure presented herein speaks only as of the date or period indicated, and GEO does not undertake any obligation, and disclaims any duty, to update any of this information, except as required by law. GEO's future financial performance is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect GEO's future financial results are discussed more fully in our reports on Form 10-K, Form 10-Q, and Form 8-K filed with the Securities and Exchange Commission ("SEC"). Readers are advised to refer to these reports for additional information concerning GEO.
The results presented herein are shown as of September 30, 2021.
The GEO Group, Inc. | |
4955 Technology Way | |
Boca Raton, Florida 33431 | Phone: 866-301-4436 |
1 | www.geogroup.com |
Company Profile | 3 |
Financial Summary - 1 | 4 |
Financial Summary - 2 | 5 |
Condensed Consolidated Balance Sheets | 6 |
Condensed Consolidated Statement of Operations | 7 |
Reconciliation of Net Income Attributable to GEO to FFO, Normalized FFO and AFFO | 8 |
Reconciliation of Net Income Attributable to GEO to Net Operating Income (NOI), EBITDAre and Adjusted EBITDAre | 9 |
Global Operations Profile | 10 |
Portfolio Operating Metrics | 11 |
Customer Data | 12 |
Property and Equipment | 13 |
Capital Expenditures | 14 |
Debt Maturity Schedule | 15 |
Outstanding Debt | 16 |
Acquisitions/Dispositions | 17 |
Idle Facilities | 18 |
Property List | 19-23 |
Definitions | 24 |
2 | www.geogroup.com |
Company Profile
The GEO Group, Inc. (NYSE: GEO) is a fully integrated equity real estate investment trust specializing in the design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO is a leading provider of enhanced in‐custody rehabilitation, post‐ release support, electronic monitoring, and community‐based programs. GEO's worldwide operations include the ownership and/or delivery of support services for 107 facilities totaling approximately 86,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,500 employees.
GEO's mission is to develop innovative public‐private partnerships with government agencies around the globe that deliver high quality, cost‐efficient solutions while providing enhanced rehabilitation and community reintegration programs to the men and women entrusted to GEO's care.
2021 Guidance Summary * | Low-End | Mid-Point | High-End | |||
Revenue | $ | 2,252,500 | $ | 2,255,000 | $ | 2,257,500 |
NOI | $ | 622,000 | $ | 623,750 | $ | 625,500 |
Adjusted EBITDAre | $ | 451,500 | $ | 453,250 | $ | 455,000 |
Net Income Attributable to GEO | $ | 165,500 | $ | 166,750 | $ | 168,000 |
AFFO/Diluted Share | $ | 2.57 | $ | 2.58 | $ | 2.59 |
Capital Expenditures | $ | 70,000 |
Maintenance | $ | 15,000 |
Growth | $ | 54,000 |
Facility Improvements | $ | 1,000 |
3 | www.geogroup.com |
Financial Summary
Company Profile | Q3 2021 | |||
(unaudited) | ||||
Market Capitalization * ** | $ | 914,817 | $ | |
Share Price ** | $ | 7.47 | $ | |
Revenues * | $ | $ | ||
Owned and Leased: Secure Services | 278,241 | |||
Owned and Leased: Community-Based | 38,302 | |||
Owned and Leased: Youth Services | 495 | |||
Managed Only | 144,340 | |||
Facility Construction & Design | 3 | |||
Non-Residential Services and Other | 95,896 | |||
$ | 557,277 | $ | ||
Net Operating Income (NOI) * | ||||
Owned and Leased: Secure Services | $ | 78,942 | $ | |
Owned and Leased: Community-Based | 14,649 | |||
Owned and Leased: Youth Services | (4,818) | |||
Managed Only | 20,448 | |||
Facility Construction & Design | (1) | |||
Non-Residential Services and Other | 47,180 | |||
$ | 156,400 | $ | ||
Adjusted EBITDAre * | $ | 116,032 | $ | |
FFO & AFFO * | $ | $ | ||
AFFO per diluted share | 0.65 | |||
Funds From Operations (NAREIT) | $ | 54,592 | $ | |
Funds From Operations (Normalized) | $ | 62,837 | $ | |
Adjusted Funds From Operations | $ | 78,649 | $ | |
Dividends per share | $ | ‐ | $ | |
Capital Expenditures * ** | $ | $ | ||
Growth | 9,414 | |||
Maintenance | 3,447 | |||
Facility Improvements | 132 | |||
$ | 12,993 | $ |
- Figures in '000s, except per share data
** As of quarter-end or year-to-date as applicable
Q3 2020 | YTD 2021 | YTD 2020 | ||
(unaudited) | (unaudited) | (unaudited) | ||
1,375,986 | $ | 914,817 | $ | 1,375,986 |
11.34 | $ | 7.47 | $ | 11.34 |
297,674 | $ | 849,341 | $ | 900,777 |
35,668 | 112,264 | 110,838 | ||
17,555 | 33,479 | 59,028 | ||
144,463 | 439,430 | 442,336 | ||
3,323 | 602 | 15,535 | ||
80,453 | 263,957 | 243,468 | ||
579,136 | $ | 1,699,073 | $ | 1,771,982 |
90,058 | $ | 253,437 | $ | 266,285 |
8,429 | 40,920 | 23,393 | ||
447 | (1,305) | 3,662 | ||
16,529 | 56,509 | 49,249 | ||
13 | 97 | 48 | ||
35,934 | 123,703 | 108,088 | ||
151,410 | $ | 473,361 | $ | 450,725 |
112,092 | $ | 342,908 | $ | 331,815 |
0.67 | $ | 1.95 | $ | 1.88 |
57,850 | $ | 174,535 | $ | 157,411 |
62,765 | $ | 185,559 | $ | 171,496 |
80,621 | $ | 235,273 | $ | 226,017 |
0.48 | $ | 0.25 | $ | 1.44 |
23,036 | $ | 43,005 | $ | 56,435 |
3,878 | 11,957 | 15,045 | ||
1,461 | 463 | 9,232 | ||
28,375 | $ | 55,425 | $ | 80,712 |
4 | www.geogroup.com |
Financial Summary | |||||||||||
Q3 2021 | Q3 2020 | YTD 2021 | YTD 2020 | ||||||||
Portfolio ** | |||||||||||
Owned and Leased: Secure Services | 34 | 38 | 34 | 38 | |||||||
Owned and Leased: Community-Based | 36 | 34 | 36 | 34 | |||||||
Owned and Leased: Youth Services | 6 | 8 | 6 | 8 | |||||||
Managed only | 20 | 30 | 20 | 30 | |||||||
96 | 110 | 96 | 110 | ||||||||
Owned and Leased: Secure Services * | ** | ||||||||||
Revenue Producing Beds | 39,307 | 45,175 | 39,307 | 45,175 | |||||||
Occupancy | 84% | 85% | 85% | 87% | |||||||
Compensated Mandays | 3,053,493 | 3,543,002 | 9,135,496 | 10,707,189 | |||||||
Square Feet | 6,859,308 | 8,300,938 | 6,859,308 | 8,300,938 | |||||||
Available beds at active facilities | - | 142 | - | 142 | |||||||
Idle Facilities: | Design Capacity | - Beds | 6,580 | 1,290 | 6,580 | 1,290 | |||||
Square Feet | 1,554,291 | 208,419 | 1,554,291 | 208,419 | |||||||
Owned and Leased: Community-Based * ** | |||||||||||
Revenue Producing Beds | 7,621 | 7,509 | 7,621 | 7,509 | |||||||
Occupancy | 51% | 51% | 55% | 60% | |||||||
Compensated Mandays | 355,174 | 352,545 | 1,135,370 | 1,228,588 | |||||||
Square Feet | 1,140,678 | 1,140,678 | 1,140,678 | 1,140,678 | |||||||
Available beds at active facilities | 490 | 490 | 490 | 490 | |||||||
Idle Facilities: | Design Capacity | - Beds | 1,249 | 2,424 | 1,249 | 2,424 | |||||
Square Feet | 198,430 | 444,600 | 198,430 | 444,600 | |||||||
Owned and Leased: Youth Services * | ** | ||||||||||
Revenue Producing Beds | - | 1,163 | - | 1,163 | |||||||
Occupancy | - | 47% | - | 56% | |||||||
Compensated Mandays | - | 50,234 | - | 177,206 | |||||||
Square Feet | 627,229 | 627,229 | 627,229 | 627,229 | |||||||
Idle Facilities: | Design Capacity - Beds | 139 | 175 | 139 | 175 | ||||||
Square Feet | 69,290 | 84,053 | 69,290 | 84,053 | |||||||
Managed Only * ** | |||||||||||
Revenue Producing Beds | 25,822 | 29,235 | 25,822 | 29,235 | |||||||
Occupancy | 97% | 95% | 98% | 96% | |||||||
Compensated Mandays | 2,298,013 | 2,544,602 | 6,901,266 | 7,608,334 | |||||||
Square Feet | 8,453,675 | 9,197,611 | 8,453,675 | 9,197,611 | |||||||
U.S. | 4,984,260 | 4,984,260 | 4,984,260 | 4,984,260 | |||||||
International | 3,469,415 | 4,213,351 | 3,469,415 | 4,213,351 | |||||||
Non-Residential Units *** **** | |||||||||||
Day Reporting Centers (1) | 613,931 | 484,496 | 1,762,836 | 1,193,871 | |||||||
Youth (2) | - | 39,402 | 67,812 | 127,519 | |||||||
BI Electronic & Location Monitoring (3) | 24,405,648 | 21,153,193 | 67,797,088 | 61,311,763 |
- For the periods reported, includes Reeves County Detention Center III, for which GEO has a management consulting agreement with Reeves County, Texas; and the expansion beds at Junee Correctional Centre and Fulham Correctional Centre.
- Revenue producing beds, occupancy and compensated mandays exclude idle facilities and projects under activation/construction.
- Non-ResidentialUnits presented in the table are calculated based on number of days within the period multiplied by number of units.
- Excluding In-Prison treatment participants.
- Community-BasedServices Non-Residential Units include home confinement populations and day reporting center participants
- Youth Non-Residential Units include education, counseling, and other outpatient services.
- BI Non-Residential Units include electronic monitoring services and Intensive Supervision and Appearance Program ("ISAP") participants.
5 | www.geogroup.com |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
The GEO Group Inc. published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 10:11:09 UTC.