The GEO Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 02, 2022 at 03:30 pm IST
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The GEO Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 588.18 million compared to USD 565.42 million a year ago. Net income was USD 53.73 million compared to USD 41.96 million a year ago. Basic earnings per share from continuing operations was USD 0.37 compared to USD 0.29 a year ago. Diluted earnings per share from continuing operations was USD 0.37 compared to USD 0.29 a year ago.
For the six months, sales was USD 1,139.36 million compared to USD 1,141.8 million a year ago. Net income was USD 91.95 million compared to USD 92.5 million a year ago. Basic earnings per share from continuing operations was USD 0.63 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.63 compared to USD 0.7 a year ago.
The GEO Group, Inc. is a diversified government service provider. It is specialized in designing, financing, development and support services for facilities, processing centers and community reentry centers. Its worldwide operations include the ownership and/or delivery of support services for 100 facilities totaling approximately 81,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees. Its U.S. Secure Services segment primarily encompasses its United States-based public-private partnership secure services business. Its Electronic Monitoring and Supervision Services segment conducts its services in the United States, and consists of its electronic monitoring and supervision services. Its Reentry Services segment consists of various community-based and reentry services. Its International Services segment primarily consists of its public-private partnership secure services operations in Australia and South Africa.