$GEO
GEO GROUP INC

2024 Q2 Form 10-Q Financial Statement

#000095017024055810 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $607.2M $605.7M
YoY Change 2.24% -0.42%
Cost Of Revenue $443.5M $441.7M
YoY Change 3.6% 1.89%
Gross Profit $163.7M $164.0M
YoY Change -1.27% -6.14%
Gross Profit Margin 26.95% 27.08%
Selling, General & Admin $52.20M $53.07M
YoY Change 25.2% 5.86%
% of Gross Profit 31.89% 32.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.31M $31.37M
YoY Change -1.19% -1.75%
% of Gross Profit 19.13% 19.13%
Operating Expenses $83.51M $84.43M
YoY Change 13.8% 2.9%
Operating Profit $80.15M $79.56M
YoY Change -13.24% -14.14%
Interest Expense $50.64M $51.30M
YoY Change -8.0% -196.62%
% of Operating Profit 63.19% 64.47%
Other Income/Expense, Net
YoY Change
Pretax Income -$53.75M $30.70M
YoY Change -237.17% -22.14%
Income Tax -$20.38M $8.071M
% Of Pretax Income 26.29%
Net Earnings -$32.51M $22.67M
YoY Change -209.95% -19.05%
Net Earnings / Revenue -5.35% 3.74%
Basic Earnings Per Share -$0.25 $0.15
Diluted Earnings Per Share -$0.25 $0.14
COMMON SHARES
Basic Shares Outstanding 136.3M 126.1M
Diluted Shares Outstanding 130.5M 131.0M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.30M $126.5M
YoY Change -4.96% 14.05%
Cash & Equivalents $46.30M $126.5M
Short-Term Investments
Other Short-Term Assets $60.04M $48.28M
YoY Change 14.81% 17.76%
Inventory $32.50M
Prepaid Expenses
Receivables $384.1M $356.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $490.4M $531.5M
YoY Change 8.5% 6.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.920B $1.929B
YoY Change -2.26% -6.27%
Goodwill $756.0M $756.0M
YoY Change 0.11% 0.11%
Intangibles $131.2M $133.5M
YoY Change -6.93% -7.44%
Long-Term Investments $8.100M $8.000M
YoY Change -12.9% -20.79%
Other Assets $95.49M $87.23M
YoY Change 3.48% -64.13%
Total Long-Term Assets $3.154B $3.153B
YoY Change -2.06% -1.49%
TOTAL ASSETS
Total Short-Term Assets $490.4M $531.5M
Total Long-Term Assets $3.154B $3.153B
Total Assets $3.644B $3.685B
YoY Change -0.76% -0.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.29M $67.82M
YoY Change 4.39% -13.99%
Accrued Expenses $198.6M $196.3M
YoY Change 13.61% -27.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $24.44M $43.40M
YoY Change -16.8% -2.99%
Total Short-Term Liabilities $388.9M $420.9M
YoY Change 12.0% 6.27%
LONG-TERM LIABILITIES
Long-Term Debt $1.739B $1.717B
YoY Change -5.77% -8.91%
Other Long-Term Liabilities $87.87M $85.61M
YoY Change 10.16% -41.34%
Total Long-Term Liabilities $1.827B $1.803B
YoY Change -5.11% -11.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $388.9M $420.9M
Total Long-Term Liabilities $1.827B $1.803B
Total Liabilities $2.216B $2.224B
YoY Change -2.49% -11.16%
SHAREHOLDERS EQUITY
Retained Earnings -$1.931M $125.8M
YoY Change -103.62% 429.12%
Common Stock $1.396M $1.307M
YoY Change 7.14% 0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $95.18M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $1.282B $1.310B
YoY Change
Total Liabilities & Shareholders Equity $3.644B $3.685B
YoY Change -0.76% -0.47%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$32.51M $22.67M
YoY Change -209.95% -19.05%
Depreciation, Depletion And Amortization $31.31M $31.37M
YoY Change -1.19% -1.75%
Cash From Operating Activities $28.71M $85.81M
YoY Change 57.68% -9.43%
INVESTING ACTIVITIES
Capital Expenditures $24.41M $14.77M
YoY Change 36.75% 7.27%
Acquisitions
YoY Change
Other Investing Activities $4.701M -$2.523M
YoY Change 588.29% 80.86%
Cash From Investing Activities -$19.71M -$17.29M
YoY Change 14.8% 14.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -83.10M -30.10M
YoY Change 43.9% -34.39%
NET CHANGE
Cash From Operating Activities 28.71M 85.81M
Cash From Investing Activities -19.71M -17.29M
Cash From Financing Activities -83.10M -30.10M
Net Change In Cash -74.09M 35.41M
YoY Change 30.67% 9.25%
FREE CASH FLOW
Cash From Operating Activities $28.71M $85.81M
Capital Expenditures $24.41M $14.77M
Free Cash Flow $4.307M $71.04M
YoY Change 1086.5% -12.27%

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CY2024Q1 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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CY2023Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
27790000
CY2024Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
249000
CY2023 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
928000
CY2024Q1 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
249000
CY2023 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
928000
CY2024Q1 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
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CY2023Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
-27790000
CY2024Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
163000
CY2023Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
186000
CY2024Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
341000
CY2023Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
336000
CY2024Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-15000
CY2024Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
519000
CY2023Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
522000
CY2024Q1 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
27200000
CY2023Q4 us-gaap Defined Benefit Pension Plan Liabilities Noncurrent
DefinedBenefitPensionPlanLiabilitiesNoncurrent
27000000
CY2024Q1 geo Minimum Ageto Be Eligibleto Receive Lump Sum Payment Upon Benefit
MinimumAgetoBeEligibletoReceiveLumpSumPaymentUponBenefit
P55Y
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

Files In Submission

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