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December 6, 2012
16:25 EDTGEOGeo Group sees FY13 adjusted FFO as REIT $200M-$210M
As a REIT, GEO would expect to generate $320M to $330M in 2013 adjusted EBITDA; $215M to $225M in 2013 FFO; $200M to $210M in 2013 adjusted FFO, and $130M to $140M in 2013 pre-tax income. This financial performance would allow GEO to pay an estimated annual REIT dividend in 2013 of approximately $2.20 to $2.40 per share of common stock based on GEO's current outstanding share count of 61.6M. GEO will provide further financial guidance for 2013 in its Q4 earnings announcement. GEO expects to incur $15M to $20M in one-time REIT conversion costs/charges, including costs associated with modifying existing bank debt agreements. Approximately $10M to $15M of the one-time REIT-related costs/charges will be incurred in Q4, and the balance will be incurred in the 1Q13. The one-time REIT conversion related costs/charges will be offset by the elimination of certain net deferred tax liabilities in Q4 resulting in a positive adjustment to earnings of $90M to $110M. GEO expects to incur an additional $3M to $5M in annual compliance expenses going forward.
News For GEO From The Last 14 Days
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December 19, 2014
10:17 EDTGEOOn The Fly: Analyst Initiation Summary
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08:39 EDTGEOGeo Group announces 626-bed expansion of Karnes County Residential Center
The GEO Group announced the development of a 626-bed expansion to the company-owned, 532-bed Karnes County Residential Center in Texas under an amendment to GEO’s existing contract with Karnes County, Texas and the existing intergovernmental service agreement between Karnes County and U.S. Immigration and Customs Enforcement. GEO will finance, develop, and manage the $36M expansion, which will increase the Facility’s total capacity to 1,158 beds. The expansion is expected to generate approximately $20M in additional annualized revenues for GEO and returns on investment consistent with GEO’s company-owned facilities. GEO expects to complete the 626-bed expansion and begin intake in the fourth quarter of 2015.
05:53 EDTGEOPrison REIT sector initiated with a Market Weight at Wells Fargo
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05:35 EDTGEOGeo Group initiated with a Market Perform at Wells Fargo
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