Geo Group Inc (the) Reit · NYSE:GEO
Geo Group Inc (the) Reit — Q4 2020 Earnings Presentation
23 slides from Geo Group Inc (the) Reit's earnings presentation, Feb 16, 2021
Slide 1: Supplemental Information Fourth Quarter and Full Year 2020
Supplemental Information Fourth Quarter and Full Year 2020 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 th
Slide 2: Company Profile Financial Summary - 1 Financial Summary - 2
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 Operat
Slide 3: Company Profile
Company Profile The GEO Group, Inc. (NYSE: GEO) is the first fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, a
Slide 4: Financial Summary
Financial Summary Company Profile Q4 2020 Q4 2019 FY 2020 FY 2019 (unaudited) (unaudited) (unaudited) (unaudited) Market Capitalization * ** $ 1,074,879 $ 2,030,524 $ 1,074,879 $ 2,030,524 Share Price ** $ 8.86 $ 16.75 $ 8.86 $ 16.75 Revenues * Owned and Leased: Secure Services $ 298,103 $ 308,147 $
Slide 5: Financial Summary
Financial Summary Q4 2020 Q4 2019 FY 2020 FY 2019 Portfolio ** Owned and Leased: Secure Services 38 39 38 39 Owned and Leased: Community-Based 36 38 36 38 Owned and Leased: Youth Services 8 9 8 9 Managed only 25 35 25 35 107 121 107 121 Owned and Leased: Secure Services * ** Revenue Producing Beds 4
Slide 6: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets * As of As of December 31, 2020 December 31, 2019 (unaudited) (unaudited) ASSETS Cash and cash equivalents $ 283,524 $ 32,463 Restricted cash and cash equivalents 26,740 32,418 Accounts receivable, less allowance for doubtful accounts 362,668 430,982 Contract re
Slide 7: Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations * Q4 2020 Q4 2019 FY 2020 FY 2019 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $ 578,116 $ 621,710 $ 2,350,098 $ 2,477,922 Operating expenses 437,264 478,080 1,778,326 1,860,758 Depreciation and amortization 34,291 33,585 134,680 130,825 Gen
Slide 8: Reconciliation of Net Income Attributable to GEO to FFO, Normalized FFO and AFFO
Reconciliation of Net Income Attributable to GEO to FFO, Normalized FFO and AFFO * Q4 2020 Q4 2019 FY 2020 FY 2019 (unaudited) (unaudited) (unaudited) (unaudited) Net Income attributable to GEO $ 11,911 $ 38,052 $ 113,032 $ 166,603 Add (Subtract): Real Estate Related Depreciation and Amortization 18
Slide 9: Reconciliation of Net Income to NOI, EBITDAre and Adjusted EBITDAre
Reconciliation of Net Income Attributable to GEO to NOI, EBITDAre and Adjusted EBITDAre * Q4 2020 Q4 2019 FY 2020 FY 2019 (unaudited) (unaudited) (unaudited) (unaudited) Net Income attributable to GEO $ 11,911 $ 38,052 $ 113,032 $ 166,603 Less Net loss attributable to noncontrolling interests 27 10
Slide 10: Global Operations Profile
Global Operations Profile Global Operating Portfolio by Region * ** United States Facilities Current Beds Beds 1-Yr Ago Texas 23 22,292 23,219 California 13 6,623 6,879 Pennsylvania 12 5,668 5,716 Colorado 7 3,027 3,097 New Jersey 7 3,795 3,795 Florida 6 8,502 8,502 Alaska 6 730 730 Arizona 4 5,930
Slide 11: Portfolio Operating Metrics
Portfolio Operating Metrics * (1) BEDS FY 12/31/2020 Q4 2020 (1) # of Facilities Sq. Ft. Owned & Compensated Compensated Managed Only Total Revenue* Occupancy Revenue* Occupancy Leased Mandays Mandays Eastern Region (FL,GA,IN,LA,MI,VA) 10 3,829,667 1,500 15,483 16,983 $268,139 5,835,084 94% $66,310
Slide 12: Customer Data
Customer Data 12 www.geogroup.com
Slide 13: Property and Equipment
Property and Equipment * As of As of December 31, 2020 December 31, 2019 (unaudited) (unaudited) Land $ 128,498 $ 128,874 Buildings and improvements 2,264,910 2,229,956 Leasehold improvements 283,561 291,511 Equipment 225,509 216,604 Furniture, fixtures and computer software 66,375 64,828 Facility c
Slide 14: Capital Expenditures
Capital Expenditures * Q4 2020 Q3 2020 Owned & Leased Owned & Leased Managed Only Managed Only Community Youth BI ** Total Secure Community Youth BI ** Total Secure Services & Other & Other Based Services Services Based Services Cap-Ex Category New facility development $ - $ 437 $ - $ - $ 76 $ 513 $
Slide 15: Debt Maturity Schedule
Debt Maturity Schedule * 15 www.geogroup.com
Slide 16: Outstanding Debt
Outstanding Debt* Unsecured Senior Notes Due 2022 2023 2024 2026 Closing Date 10/3/13 3/19/13 9/25/14 4/18/16 Denomination USD USD USD USD Original Principal Amount $250,000 $300,000 $250,000 $350,000 Principal Amount (end of quarter) $193,958 $281,783 $242,500 $350,000 Coupon 5.875% 5.125% 5.875% 6
Slide 17: Acquisitions/Dispositions
Acquisitions/Dispositions Acquisitions/Dispositions * Dispositions Bed Count State Sale Price Sale Date Talbot Hall ** 536 NJ $13,922,000 Jan 2021 * Represents acquisitions/dispositions of real estate assets. ** GEO received net proceeds of $13.2M for the sale of its interest in Talbot Hall. 17 www.
Slide 18: Idle Facilities
Idle Facilities (1) Idle Facilities (as of 12/31/2020) Ownership Number of Net Book Location Type Beds Value * Facility Perry County Correctional Center Alabama Owned 690 11,536 Coleman Hall Pennsylvania Owned 350 8,524 Cheyenne Mountain Reentry Center Colorado Owned 750 17,684 McFarland Female CRF
Slide 19: Property List
Property List Updated as of December 31, 2020 Years Primary Renewal Facility Name City State Years Contracted Capacity Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Option(s) OWNED AND LEASED PROPERTIES GEO SECURE SERVICES 1 Perry County Correctional Facility Union Town A
Slide 20: Property List
Property List Updated as of December 31, 2020 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) COMMUNITY-BASED SERVICES 1 Alabama Therapeutic Education Facility Columbiana Alabama 1962
Slide 21: Property List
Property List Updated as of December 31, 2020 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) COMMUNITY-BASED SERVICES 25 Tully House Newark New Jersey 1929, 1999 January-20 NJ DOC 344
Slide 22: Property List
Property List Updated as of December 31, 2020 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) YOUTH SERVICES 1 Southern Peaks Regional Treatment Center Canon City Colorado 2003, 2004 J
Slide 23: Definitions
Definitions Adjusted EBITDAre (Adjusted EBITDA for real estate) Adjusted EBITDAre is defined as EBITDAre adjusted for net loss attributable to non-controlling interests, stock-based compensation expenses, pre-tax, and certain other adjustments as defined from time to time, including for the periods
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