Geo Group Inc (the) Reit · NYSE:GEO
Geo Group Inc (the) Reit — Q1 2025 Earnings Presentation
23 slides from Geo Group Inc (the) Reit's earnings presentation, May 7, 2025
Slide 1: Supplemental Information First Quarter 2025
Supplemental Information First Quarter 2025 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,
Slide 2: Table of contents
Company Profile 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statement of Operations 5 Reconciliation of Net Income to EBITDA and Adjusted EBITDA, and Reconciliation of Net Income Attributable to GEO to Adjusted Net Income 6 Reconciliation of Net Income Attributable to GEO to Net
Slide 3: Company Profile
Company Profile The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the U
Slide 4: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets * As of As of March 31, 2025 December 31, 2024 (unaudited) (unaudited) ASSETS Cash and cash equivalents $ 64,822 $ 76,896 Restricted cash and cash equivalents 3,657 2,785 Accounts receivable, less allowance for doubtful accounts 384,227 376,013 Prepaid expenses
Slide 5: Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations * Q1 2025 Q1 2024 (unaudited) (unaudited) Re v e nue s $ 604,647 $ 605,672 Ope rating e xpe nse s 453,778 441,675 De pre ciation and amortization 32,136 31,365 Ge ne ral and administrativ e e xpe nse s 57,749 53,070 Operating income 60,984 79,562 Inte r
Slide 6: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Reconciliation of Net Income to EBITDA and Adjusted EBITDA, and Reconciliation of Net Income Attributable to GEO to Adjusted Net Income * Q1 2025 Q1 2024 (unaudited) (unaudited) Net Income $ 19,542 $ 22,659 Add: Income tax provision ** 2,056 8,199 Interest expense, net of interest income *** 40,444
Slide 7: Reconciliation of Net Income Attributable to GEO to NOI
Reconciliation of Net Income Attributable to GEO to Net Operating Income (NOI) * Q1 2025 Q1 2024 (unaudited) (unaudited) Net Income attributable to GEO $ 19,558 $ 22,668 Less Net loss attributable to noncontrolling interests 16 9 Net Income $ 19,542 $ 22,659 Add (Subtract): Equity in earnings of aff
Slide 8: Financial Summary
Financial Summary Company Profile * Q1 2025 Q1 2024 (unaudited) (unaudited) Market Capitalization ** $ 4,124,610 $ 1,785,598 Share Price ** $ 29.21 $ 14.12 Revenues * Owned and Leased: Secure Services $ 305,623 $ 297,211 Owned and Leased: Reentry Services 39,751 39,225 Managed Only 149,468 152,277 E
Slide 9: Financial Summary
Financial Summary Q1 2025 Q1 2024 Portfolio * Owned and Leased: Secure Services 32 30 Owned and Leased: Reentry Services 33 34 Managed Only & Other 24 26 89 90 Owned and Leased: Secure Services ** Revenue Producing Beds 35,455 35,749 Occupancy 85% 84% Compensated Mandays 2,698,173 2,743,361 Square F
Slide 10: Global Operations Profile
Global Operations Profile Global Operating Portfolio by Region * ** United States Facilities Current Beds Beds 1-Yr Ago Texas 20 17,875 19,031 California 13 6,623 6,623 Arizona 4 5,930 5,930 Florida 5 5,751 5,751 Georgia 4 5,254 5,286 Oklahoma 2 4,328 4,622 Indiana 2 4,262 4,262 Louisiana 4 3,654 3,
Slide 11: Portfolio Operating Metrics
Portfolio Operating Metrics * BEDS (1) Q1 2025 # of Facilities (1) Sq. Ft. Owned & Compensated Managed Only Total Revenue* Occupancy Leased Mandays Eastern Region (FL,GA,IN,VA) 6 2,368,940 1,500 9,195 10,695 $49,248 924,419 96% Central Region (OK) 1 556,207 2,388 - 2,388 $11,596 212,847 99% Western
Slide 12: Customer Data
Customer Data Customer Retention Data Total YTD 2025 2024 2023 2022 2021 # of Contracts up for Renewal/Rebid 208 6 46 48 50 58 Contract Retention Rate: Owned & Leased 93.5% 100.0% 97.7% 97.8% 93.3% 84.8% Contract Retention Rate: Managed Only 70.8% 0.0% 66.7% 100.0% 60.0% 75.0% Retention Rate 90.9% 8
Slide 13: Capital Expenditures
Capital Expenditures * Q1 2025 Q4 2024 Owned & Leased Owned & Leased Managed Only Managed Only Reentry BI ** Total Secure Reentry BI ** Total Secure Services & Other & Other Services Services Services Cap-Ex Category Growth 9,414 - - - 9,414 1,281 - - - 1,281 Technology - - 9,976 - 9,976 - - 6,748 -
Slide 14: Debt Maturity Schedule
Debt Maturity Schedule * 2025 2026 2027 2028 2029 2030 2031 2032 2033 Thereafter Total Floating Rate Debt Revolver Borrowings due 2029 $ - $ - $ - $ - $ 80,000 $ - $ - $ - $ - $ - $ 80,000 New Term Loan due 2029 23,956 - - 18,742 278,125 - - - - - 320,823 Total Floating Debt $ 23,956 $ - $ - $ 18,74
Slide 15: Outstanding Debt
Outstanding Debt * Senior Notes Due 2029 2031 Closing Date 4/18/24 4/18/24 Denomination USD USD Security Secured Unsecured Original Principal Amount $650,000 $625,000 Outstanding Principal Amount (end of quarter) $650,000 $625,000 Stated Coupon 8.625% 10.250% Maturity Date 4/15/29 4/15/31 Date Calla
Slide 16: Acquisitions/Dispositions
Acquisitions/Dispositions * Acquisitions Bed Count State Purchase Price Acquisition Date Tampa Residential Reentry Center 118 FL $1,200 March 2021 Correct Care Australasia N/A Australia $3,910 March 2024 Total $5,110 Dispositions Bed Count State Sale Price ** Sale Date Talbot Hall 536 NJ $13,922 Jan
Slide 17: Idle Facilities
Idle Facilities Idle Facilities (As of 3/31/2025) Secure Services Facilities ** Location Ownership Bed Count Net Book Value * D. Ray James Correctional Facility Georgia Owned 1,868 47,856 Flightline Correctional Facility Texas Owned 1,452 31,605 Rivers Correctional Facility North Carolina Owned 1,32
Slide 18: Property List
Property List Updated as of May 6, 2025 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 Adelanto ICE Processing Center Adelanto California 19
Slide 19: Property List
Property List Updated as of May 6, 2025 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) OWNED AND LEASED PROPERTIES GEO CARE - REENTRY SERVICES 1 Alabama Therapeutic Education Facility
Slide 20: Property List
Property List Updated as of May 6, 2025 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) GEO CARE - REENTRY SERVICES 18 Tully House Newark New Jersey 1929, 1999 July-22 NJ DOC 344 Owned
Slide 21: Property List
Property List Updated as of May 6, 2025 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Customer(s) Capacity Option(s) MANAGED-ONLY FACILITIES GEO SECURE SERVICES 1 Florence West Correctional and Rehabilitation Faci
Slide 22: Property List
Property List Updated as of May 6, 2025 Years Primary Design Renewal Facility Name City State Years Contracted Ownership Type Term(s) Upcoming Renewal Date Built/ Renovated Lessee(s) Capacity Option(s) GEO LEASED PROPERTIES (NOT MANAGED) 1990-1992, 1995, 2008, 2011, 2013, 2015, Great Plains Correcti
Slide 23: Definitions
Definitions EBITDA: EBITDA is defined as net income, adjusted by adding provisions for income tax, interest expense, net of interest income, and depreciation and amortization. Adjusted EBITDA: Adjusted EBITDA is defined as EBITDA adjusted for net loss attributable to non-controlling interests, stock
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