Form 8-K

8-K — GEO GROUP INC

Accession: 0001193125-26-336562

Filed: 2026-08-06

Period: 2026-08-06

CIK: 0000923796

SIC: 1520 (GEN BUILDING CONTRACTORS - RESIDENTIAL BUILDINGS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d118675d8k.htm (Primary)

EX-99.1 (d118675dex991.htm)

GRAPHIC (g118675geo.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: d118675d8k.htm · Sequence: 1

8-K

GEO GROUP INC false 0000923796 0000923796 2026-08-06 2026-08-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2026

THE GEO GROUP, INC.

(Exact Name of Registrant as Specified in its Charter)

Florida

1-14260

65-0043078

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

4955 Technology Way, Boca Raton, Florida

33431

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code (561) 893-0101

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol

Name of each exchange

on which registered

Common Stock, $0.01 Par Value

GEO

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 2

Financial Information

Item 2.02

Results of Operations and Financial Condition.

On August 6, 2026, The GEO Group, Inc. (“GEO” or the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026, updating its financial guidance for the full year ending December 31, 2026 and issuing its financial guidance for the third quarter ending September 30, 2026 and the fourth quarter ending December 31, 2026.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9

Financial Statements and Exhibits

Item 9.01

Financial Statements and Exhibits.

Exhibit

No.

Description

99.1

Press Release, dated August 6, 2026, announcing GEO’s financial results for the second quarter ended June 30, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

August 6, 2026

By:

/s/ Shayn P. March

Date

Shayn P. March

Senior Vice President and Chief Financial Officer

EX-99.1

Filename: d118675dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

NEWS RELEASE

4955 Technology Way ∎ Boca Raton, Florida 33431 ∎ www.geogroup.com

CR-26-11

THE GEO GROUP REPORTS SECOND QUARTER RESULTS

AND UPDATES FULL YEAR 2026 GUIDANCE

•

2Q26 Revenues Increased 15% to $732.1 Million

•

2Q26 Net Income Attributable to GEO Operations Increased 63% to $47.5 Million

•

2Q26 Adjusted EBITDA Increased 20% to $142.0 Million

•

Repurchased approximately 1.6 million shares for $36.6 million in 2Q26

•

Guidance for FY26 Revenues of $2.95-$3.05 Billion

•

Guidance for FY26 Net Income Attributable to GEO Operations Increased to

$168-$175 Million, or $1.27-$1.32 Per Diluted Share

•

Guidance for FY26 Adjusted EBITDA Increased to $550-$560 Million

Boca Raton, Fla. – August 6, 2026 — The GEO Group, Inc. (NYSE: GEO)

(“GEO”, “we” or the “Company”), a leading provider of contracted support services for secure facilities, processing centers, and reentry centers, as well as enhanced

in-custody rehabilitation, post-release support, and electronic monitoring programs, reported its financial results for the second quarter 2026, updated full year 2026 financial guidance, and provided

financial guidance for the third and fourth quarters 2026.

For the second quarter 2026, we reported total revenues of $732.1 million compared to

$636.2 million for the second quarter 2025, reflecting a 15 percent increase.

We reported second quarter 2026 net income attributable to GEO

Operations of $47.5 million, or $0.36 per diluted share, compared to net income attributable to GEO Operations of $29.1 million, or $0.21 per diluted share, for the second quarter 2025, reflecting a 63 percent increase in net income

attributable to GEO Operations.

Second quarter 2026 results reflect $1.7 million, pre-tax, in combined loss

on asset divestitures/impairment, start-up expenses, transaction fees, and employee restructuring expenses. Excluding these items, we reported adjusted net income for the second quarter 2026 of

$48.8 million, or $0.37 per diluted share, compared to $30.7 million, or $0.22 per diluted share, for the second quarter 2025.

We reported

second quarter 2026 Adjusted EBITDA of $142.0 million, compared to $118.6 million for the second quarter 2025, reflecting a 20 percent increase.

Our second quarter 2026 results reflect revenue growth from the contracts that we entered into throughout 2025. Operating Expenses continued to be favorably

impacted by lower labor costs during the second quarter of 2026.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

George C. Zoley, GEO’s Chairman, Chief Executive Officer and Founder, said, “We are very pleased

with our strong second quarter results and improved full year outlook. Our financial performance in the first half of 2026 has been driven by the new growth opportunities we captured in 2025 and are normalizing this year. Last year was the most

successful period for new business wins in our company’s history, and we expect 2026 to continue to be very active as well. We remain focused on pursuing new growth opportunities and allocating capital to enhance long-term value for our

shareholders, and we believe that our stock continues to offer a very attractive investment opportunity.”

Results for the First Six Months of

2026

For the first six months of 2026, we reported total revenues of $1.44 billion compared to $1.24 billion for the first six months of

2025, reflecting a 16 percent increase.

We reported net income attributable to GEO Operations for the first six months of 2026 of

$85.8 million, or $0.65 per diluted share, compared to net income attributable to GEO Operations of $48.7 million, or $0.35 per diluted share, for the first six months of 2025, reflecting a 76 percent increase in net income

attributable to GEO Operations.

Results for the first six months of 2026 reflect $2.1 million, pre-tax, in

combined loss on asset divestitures/impairment, start-up expenses, transaction fees, employee restructuring expenses, and close-out expenses. Excluding these items, we

reported adjusted net income for the first six months of 2026 of $87.4 million, or $0.66 per diluted share, compared to $50.3 million, or $0.36 per diluted share, for the first six months of 2025.

We reported Adjusted EBITDA for the first six months of 2026 of $273.4 million, compared to $218.4 million for the first six months of 2025,

reflecting a 25 percent increase.

Operational Highlights

We entered into a five-year support services contract, effective July 9, 2026, with U.S. Immigration and Customs Enforcement (“ICE”) for the

activation of a federal immigration processing center at the 1,188-bed Big Horn Facility in Hudson, Colorado, while also entering into a lease agreement with the Facility owner. The Big Horn Facility support

services contract is expected to generate approximately $85 million in annual revenues in the first full year of operations.

We entered into a

five-year support services contract, effective August 1, 2026, with ICE for the activation of a federal immigration processing center at our GEO-owned, 1,320-bed

Rivers Facility in Winton, North Carolina. The Rivers Facility support services contract is expected to generate approximately $80 million in annual revenues in the first full year of operations.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Under both contracts, ICE will reimburse GEO for the capital expenditures needed to reactivate these two

facilities, as well as provide funding for start-up expenses during the activation period. We expect the activation of the Big Horn Facility and Rivers Facility to be completed by the end of 2026, with both

facilities expected to achieve normalized operations and earnings contribution in early 2027.

Financial Guidance

Today, we updated our financial guidance for the full year 2026 and issued our financial guidance for the third quarter 2026 and the fourth quarter 2026. We

increased our full year 2026 Net Income Attributable to GEO Operations guidance to a range of $168 million to $175 million, or $1.27 to $1.32 per diluted share on annual revenues of $2.95 billion to $3.05 billion and based on an

effective tax rate of approximately 30 percent, inclusive of known discrete items. We increased our full year 2026 Adjusted EBITDA guidance to a range of $550 million to $560 million. We expect total unreimbursed Capital Expenditures

for the full year 2026 to be between $135 million and $145 million.

For the third quarter 2026, we expect Net Income Attributable to GEO

Operations to be in a range of $45 million to $48 million, or $0.35 to $0.37 per diluted share, on quarterly revenues of $755 million to $805 million. We expect third quarter 2026 Adjusted EBITDA to be between $140 million

and $145 million. For the fourth quarter 2026, we expect Net Income Attributable to GEO Operations to be in a range of $37 million to $41 million, or $0.28 to $0.31 per diluted share, on quarterly revenues of $758 million to

$808 million. We expect fourth quarter 2026 Adjusted EBITDA to be between $137 million and $142 million.

Our updated guidance does not

include any earnings contribution from our new Big Horn and Rivers ICE contracts since we expect the activation period for these facilities to be completed by the end of 2026, achieving normalized earnings contribution in early 2027. Our updated

guidance also does not include any earnings contribution from our previously announced managed-only contracts for the 1,884-bed Graceville Facility and the 985-bed Bay

Facility in the State of Florida. These two managed-only contracts, which are valued at approximately $100 million in combined annual revenues, are now expected to transition to GEO on July 1, 2027.

We believe there are several sources of potential upside that are not currently included in our guidance. With respect to revenues, sources of potential

upside include additional growth in our U.S. Secure Services segment from the reactivation of additional idle facilities and/or higher overall populations across our active facilities; additional volume increases and/or accelerated technology and

service mix shift in our Intensive Supervision Appearance Program (“ISAP”) contract; additional growth in our secure transportation services business; and additional revenue from higher utilization of our skip tracing services contract.

With respect to expenses, our guidance assumes a more moderate contribution from labor cost savings for the second half of 2026.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Balance Sheet

At the end of the second quarter 2026, we had approximately $55 million in cash and cash equivalents and approximately $1.54 billion in total debt,

resulting in total net debt of approximately $1.5 billion and total net leverage below 3 times Adjusted EBITDA for the trailing 12 months. At the end of the second quarter 2026, we had total available liquidity of approximately

$300 million, including cash on hand and Revolver availability, to support our capital needs.

Share Repurchase Program

During the second quarter of 2026, we repurchased approximately 1.6 million shares of GEO common stock at an aggregate cost of approximately

$36.6 million. As of June 30, 2026, we had repurchased approximately 10.1 million shares of GEO common stock at an aggregate cost of approximately $177 million under our $500 million share repurchase authorization, bringing

our current outstanding share count to approximately 132 million and leaving approximately $323 million of repurchase authorization available under the share repurchase program.

Repurchases of GEO’s outstanding common stock will be made in accordance with applicable securities laws and may be made at our senior

management’s discretion from time to time in the open market, by block purchase, through privately negotiated transactions, pursuant to a trading plan, or otherwise in compliance with Rule 10b-18 under

the Securities Exchange Act of 1934, as amended. The authorization for the share repurchase program may be extended, increased, decreased, suspended or terminated by our Board of Directors in its discretion at any time. Repurchases of the

Company’s common stock (and the timing thereof) will depend upon market conditions, regulatory requirements, the Company’s existing obligations, including its Credit Agreement, other corporate liquidity requirements and priorities and

other factors as may be considered in the Company’s sole discretion. The authorization for the share repurchase program does not obligate GEO to purchase any particular amount of the Company’s common stock.

Conference Call Information

We have scheduled a

conference call and webcast for today at 1:00 PM (Eastern Time) to discuss our second quarter 2026 financial results as well as our outlook. The call-in number for the U.S. is 1-877-250-1553 and the international call-in number is 1-412-542-4145. In addition, a live audio webcast of the conference call may be accessed on the Webcasts section under the News, Events and Reports tab of GEO’s investor relations webpage at

investors.geogroup.com. A replay of the webcast will be available on the website for one year. A telephonic replay of the conference call will be available through August 13, 2026, at 1-855-669-9658 (U.S.) and 1-412-317-0088

(International). The participant passcode for the telephonic replay is 1433186.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

About The GEO Group

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 United Kingdom. GEO’s diversified services include enhanced in-custody

rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and

mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to

approximately 20,000 employees.

Reconciliation Tables and Supplemental Information

GEO has made available Supplemental Information which contains reconciliation tables of Net Income Attributable to GEO Operations to Adjusted Net Income, and

Net Income to EBITDA and Adjusted EBITDA, along with supplemental financial and operational information on GEO’s business and other important operating metrics. The reconciliation tables are also presented herein. Please see the section below

titled “Note to Reconciliation Tables and Supplemental Disclosure—Important Information on GEO’s Non-GAAP Financial Measures” for information on how GEO defines these supplemental Non-GAAP financial measures and reconciles them to the most directly comparable GAAP measures. GEO’s Reconciliation Tables can be found herein and in GEO’s Supplemental Information available on

GEO’s investor webpage at investors.geogroup.com.

Note to Reconciliation Tables and Supplemental Disclosure –

Important Information on GEO’s Non-GAAP Financial Measures

Adjusted Net Income, EBITDA, and Adjusted EBITDA are non-GAAP financial measures that are presented as supplemental

disclosures. GEO has presented herein certain forward-looking statements about GEO’s future financial performance that include non-GAAP financial measures, including Net Debt, Net Leverage, and Adjusted

EBITDA. The determination of the amounts that are included or excluded from these non-GAAP financial measures is a matter of management judgment and depends upon, among other factors, the nature of the

underlying expense or income amounts recognized in a given period. While we have provided a high level reconciliation for the guidance ranges for full year 2026, we are unable to present a more detailed quantitative reconciliation of the

forward-looking non-GAAP financial measures to their most directly comparable forward-looking GAAP financial measures because management cannot reliably predict all of the necessary components of such GAAP

measures. The quantitative reconciliation of the forward-looking non-GAAP financial measures will be provided for completed annual and quarterly periods, as applicable, calculated in a consistent manner with

the quantitative reconciliation of non-GAAP financial measures previously reported for completed annual and quarterly periods.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Net Debt is defined as gross principal debt less cash on hand. Net Leverage is defined as Net Debt divided by

Adjusted 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 is defined as EBITDA adjusted for loss on asset divestitures/impairment, pre-tax, net loss attributable to non-controlling interests,

stock-based compensation expenses, pre-tax, litigation costs and settlements, pre-tax, start-up expenses, pre-tax, transaction fees, pre-tax, employee restructuring expenses, pre-tax, close-out

expenses, pre-tax, other non-cash revenue and expenses, pre-tax, and certain other adjustments as defined from time to time.

Given the nature of our business as a real estate owner and support services provider, we believe that EBITDA and Adjusted EBITDA are helpful to investors as measures of our operational performance because they provide an indication of our ability

to incur and service debt, to satisfy general operating expenses, to make capital expenditures, and to fund other cash needs or reinvest cash into our business.

We believe that by removing the impact of our asset base (primarily depreciation and amortization) and excluding certain

non-cash charges, amounts spent on interest and taxes, and certain other charges that are highly variable from year to year, EBITDA and Adjusted EBITDA provide our investors with performance measures that

reflect the impact to operations from trends in occupancy rates, per diem rates and operating costs, providing a perspective not immediately apparent from net income. The adjustments we make to derive the

non-GAAP measures of EBITDA and Adjusted EBITDA exclude items which may cause short-term fluctuations in income from continuing operations and which we do not consider to be the fundamental attributes or

primary drivers of our business plan and they do not affect our overall long-term operating performance. EBITDA and Adjusted EBITDA provide disclosure on the same basis as that used by our management and provide consistency in our financial

reporting, facilitate internal and external comparisons of our historical operating performance and our business units and provide continuity to investors for comparability purposes.

Adjusted Net Income is defined as net income attributable to GEO operations adjusted for certain items which by their nature are not comparable from period to

period or that tend to obscure GEO’s actual operating performance, including for the periods presented loss on asset divestitures/impairment, pre-tax, loss on extinguishment of debt, pre-tax, litigation costs and settlements, pre-tax, start-up expenses, pre-tax, transaction

fees, pre-tax, employee restructuring expenses, pre-tax, close-out expenses, pre-tax, and

tax effect of adjustments to net income attributable to GEO operations.

--More--

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Safe-Harbor Statement

This press release contains forward-looking statements regarding future events and future performance of GEO that involve risks and uncertainties that could

materially and adversely affect actual results, including statements regarding GEO’s financial guidance for the full year, third quarter, and fourth quarter of 2026, the $500 million share repurchase program authorized by GEO’s

Board of Directors, the anticipated timing and annualized revenues related to the activation of certain facilities and new and amended contracts, GEO’s ability to capture additional growth opportunities, and the Company’s efforts to

strengthen its capital structure and enhance shareholder value through capital returns. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,”

“expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” or “continue” or the negative of such words and similar expressions. Risks and

uncertainties that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to: (1) GEO’s ability to meet its financial guidance for the full

year, third quarter, and fourth quarter of 2026 given the various risks to which its business is exposed; (2) GEO’s ability to execute on the $500 million share repurchase program authorized by GEO’s Board of Directors on the

timeline it expects; (3) GEO’s ability to deleverage and repay, refinance or otherwise address its debt maturities in an amount and on terms commercially acceptable to GEO, and on the timeline it expects or at all; (4) GEO’s

ability to identify and successfully complete any potential sales of company-owned assets and businesses or potential acquisitions of assets or businesses on commercially advantageous terms on a timely basis, or at all; (5) changes in federal

and state government policy, orders, directives, legislation and regulations that affect public-private partnerships with respect to secure, correctional and detention facilities, processing centers and reentry centers; (6) changes in federal

immigration policy; (7) public and political opposition to the use of public-private partnerships with respect to secure correctional and detention facilities, processing centers and reentry centers; (8) the impact of any future global

pandemic on GEO and GEO’s ability to mitigate the risks associated with such pandemic; (9) GEO’s ability to sustain or improve company-wide occupancy rates at its facilities; (10) fluctuations in GEO’s operating results,

including as a result of contract activations, contract terminations, contract renegotiations, changes in occupancy levels and increases in GEO’s operating costs; (11) general economic and market conditions, including changes to

governmental budgets and its impact on new contract terms, contract renewals, renegotiations, per diem rates, fixed payment provisions, and occupancy levels; (12) GEO’s ability to address inflationary pressures related to labor related

expenses and other operating costs; (13) GEO’s ability to timely open facilities as planned, profitably manage such facilities and successfully integrate such facilities into GEO’s operations without substantial costs;

(14) GEO’s ability to win management contracts for which it has submitted proposals and to retain existing management contracts; (15) risks associated with GEO’s ability to control operating costs associated with contract start-ups; (16) GEO’s ability to successfully pursue growth opportunities and continue to create shareholder value; (17) GEO’s ability to obtain financing or access the capital markets in the

future on acceptable terms or at all; (18) any adverse impact on GEO’s financial results caused by any past or future federal government shutdown; (19) risks associated with the U.S. Supreme Court agreeing to hear GEO’s appeal

in the Nwauzor Case and GEO’s ability to prevail on the merits; and (20) other factors contained in GEO’s Securities and Exchange Commission periodic filings, including its Form 10-K, 10-Q and 8-K reports, many of which are difficult to predict and outside of GEO’s control.

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Second quarter and first six months 2026 financial tables to follow:

Condensed Consolidated Balance Sheets*

(Unaudited)

As of

June 30, 2026

December 31, 2025

(unaudited)

ASSETS

Cash and cash equivalents

54,992

68,995

Restricted cash and cash equivalents

2,137

2,998

Accounts receivable, less allowance for doubtful accounts

531,852

593,463

Prepaid expenses and other current assets

46,004

53,073

Total current assets

634,985

718,529

Restricted Cash and Investments

193,103

179,366

Property and Equipment, Net

1,856,785

1,884,198

Operating Lease Right-of-Use Assets, Net

62,787

72,294

Deferred Income Tax Assets

9,396

Intangible Assets, Net (including goodwill)

869,721

873,360

Other Non-Current Assets

115,485

106,479

Total Assets

$3,742,262

$3,843,622

LIABILITIES AND SHAREHOLDERS’ EQUITY

Accounts payable

56,195

58,727

Accrued payroll and related taxes

83,591

82,086

Accrued expenses and other current liabilities

198,497

197,530

Operating lease liabilities, current portion

14,954

17,193

Current portion of finance lease obligations, and long-term debt

30,788

1,355

Total current liabilities

384,025

356,891

Deferred Income Tax Liabilities

99,689

Other Non-Current Liabilities

182,454

176,083

Operating Lease Liabilities

49,884

57,557

Long-Term Debt

1,511,530

1,649,268

Total Shareholders’ Equity

1,514,680

1,504,134

Total Liabilities and Shareholders’ Equity

$3,742,262

$3,843,622

All figures in ‘000s

-- More --

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Condensed Consolidated Statements of Operations*

(Unaudited)

Q2 2026

Q2 2025

YTD 2026

YTD 2025

(unaudited)

Revenues

732,072

636,169

1,437,285

1,241,513

Operating expenses

530,703

475,218

1,052,212

929,693

Depreciation and amortization

34,196

32,732

68,026

64,868

General and administrative expenses

65,470

56,246

126,045

113,995

Operating income

101,703

71,973

191,002

132,957

Interest income

3,228

2,466

4,900

4,463

Interest expense

(38,556

)

(41,907

)

(76,857

)

(84,348

)

Loss on extinguishment of debt

—

(595

)

—

(595

)

Other Income

—

5,514

—

5,514

Loss on asset divestitures/impairment

(673

)

—

(673

)

—

Income before income taxes and equity in earnings of affiliates

65,702

37,451

118,372

57,991

Provision for income taxes

18,878

10,554

33,904

12,380

Equity in earnings of affiliates, net of income tax provision

636

2,177

1,298

3,005

Net income

47,460

29,074

85,766

48,616

Less: Net loss attributable to noncontrolling interests

Net Income Attributable to The GEO Group, Inc. Operations

47,503

29,108

85,837

48,666

Weighted Average Common Shares Outstanding:

Basic

130,603

138,539

131,602

137,844

Diluted

132,024

140,470

133,025

140,710

Net Income per Common Share Attributable to The GEO Group, Inc. Operations

Basic:

Net income per share — basic

0.36

0.21

0.65

0.35

Diluted:

Net income per share — diluted

0.36

0.21

0.65

0.35

All figures in ‘000s, except per share data

-- More --

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

Reconciliation of Net Income to EBITDA and Adjusted EBITDA,

and Net Income Attributable to GEO Operations to Adjusted Net Income*

(Unaudited)

Q2 2026

Q2 2025

YTD 2026

YTD 2025

(unaudited)

Net income

47,460

29,074

85,766

48,616

Add:

Income tax provision **

19,107

10,723

34,349

12,779

Interest expense, net of interest income

35,328

40,036

71,957

80,480

Depreciation and amortization

34,196

32,732

68,026

64,868

EBITDA

136,091

112,565

260,098

206,743

Add (Subtract):

Loss on asset divestitures/impairment, pre-tax

673

—

673

—

Net loss attributable to noncontrolling interests

Stock based compensation expenses, pre-tax

4,923

5,506

12,689

11,994

Litigation costs and settlements, pre tax

—

532

—

532

Start-up expenses, pre-tax

509

—

509

—

Transaction fees, pre-tax

156

—

322

Employee restructuring expenses, pre-tax

392

332

592

332

Close-out expenses, pre-tax

—

676

Other non-cash revenue & expenses, pre-tax

(788

)

(1,048

)

(1,563

)

(2,019

)

Adjusted EBITDA

141,999

118,597

273,411

218,363

Net Income Attributable to The GEO Group, Inc. Operations

47,503

29,108

85,837

48,666

Add (Subtract):

Loss on asset divestitures/impairment, pre-tax

673

—

673

—

Loss on extinguishment of debt, pre-tax

—

595

—

595

Litigation costs and settlements, pre tax

—

532

—

532

Start-up expenses, pre-tax

509

—

509

—

Transaction fees, pre-tax

156

—

322

Employee restructuring expenses, pre-tax

392

332

592

332

Close-out expenses, pre-tax

—

676

Tax effect of adjustment to net income attributable to GEO Operations (1)

(435

)

(537

)

(532

)

(551

)

Adjusted Net Income

48,798

30,706

87,421

50,305

Weighted average common shares outstanding - Diluted

132,024

140,470

133,025

140,710

Adjusted Net Income per Diluted Share

0.37

0.22

0.66

0.36

All figures in ‘000s.

Includes income tax provision on equity in earnings of affiliates.

(1)

Tax adjustment related to loss on asset divestitures/impairment, loss on extinguishment of debt, litigation

costs and settlements, start-up expenses, transaction fees, employee restructuring expenses, and close-out expenses.

-- More --

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

NEWS RELEASE

2026 Outlook/Reconciliation

(In thousands, except per share data)

(Unaudited)

FY 2026

Net Income Attributable to GEO

168,000

175,000

(Gain)/Loss on Asset Sale, pre-tax

700

Net Interest Expense

145,000

145,500

Tax effect of Adjustments

(500

)

(500

)

Income Taxes

(including income tax provision on equity in earnings of affiliates)

73,000

75,500

Depreciation and Amortization

139,000

Non-Cash Stock Based Compensation

23,500

Other Non-Cash

1,300

Adjusted EBITDA

550,000

560,000

Net Income Attributable to GEO Per Diluted Share

1.27

1.32

Weighted Average Common Shares Outstanding-Diluted

132,600

CAPEX

Growth

17,500

20,000

Technology

27,500

30,000

Facility Maintenance

90,000

95,000

Capital Expenditures

135,000

145,000

Total Debt, Net

1,475,000

1,425,000

Total Leverage, Net

2.7

2.5

Note: The above outlook does not include the impact of any potential impact related to

one-time legal settlements

- End -

Contact:

Pablo E. Paez

Executive Vice President,

Corporate Relations

(866) 301 4436

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