The GEO Group Reports Second Quarter 2014 Results

  The GEO Group Reports Second Quarter 2014 Results

  *2Q14 Net Income per Diluted Share of $0.54
  *2Q14 Normalized FFO of $0.72 per Diluted Share; 2Q14 AFFO of $0.85 per
    Diluted Share
  *Increased 2014 AFFO Guidance to $229-$234 million or $3.18 to $3.24 per
    Diluted Share
  *Quarterly Dividend of $0.57 per Share

Business Wire

BOCA RATON, Fla. -- August 6, 2014

The GEO Group, Inc. (NYSE:GEO) (“GEO”), the first fully integrated equity real
estate investment trust specializing in the design, financing, development,
and operation of correctional, detention, and community reentry facilities
around the globe, reported today its financial results for the second quarter
2014.

Second Quarter 2014 Highlights

  *Net Income per Diluted Share of $0.54
  *Net Operating Income of $119.2 million
  *Normalized FFO of $0.72 per Diluted Share
  *AFFO of $0.85 per Diluted Share

For the second quarter 2014, Normalized Funds From Operations (“Normalized
FFO”) increased to $51.9 million, or $0.72 per diluted share, from $43.9
million, or $0.61 per diluted share, for the second quarter 2013. Second
quarter 2014 Adjusted Funds From Operations (“AFFO”) increased to $60.9
million, or $0.85 per diluted share, from $52.3 million, or $0.73 per diluted
share, for the second quarter 2013. For the second quarter 2014, Net Operating
Income increased to $119.2 million from $108.5 million for the second quarter
2013.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said: “We are
very pleased with our second quarter results and improved outlook for 2014,
which continue to reflect robust operational and financial performance from
our diversified business units. Our strong quarterly results have been driven
by improved occupancy across our diversified real estate assets. Since the
beginning of the year, our GEO Corrections & Detention division has activated
new contracts or has announced contract awards totaling more than 6,000
correctional and detention beds in the U.S. and internationally. Additionally,
our GEO Community Services division has continued to expand with the opening
of approximately a dozen new day reporting centers and the provision of
electronic monitoring services in several new markets. We continue to be
optimistic regarding the growth opportunities in our industry which we expect
will continue to create value for our shareholders.”

GEO reported total revenues for the second quarter 2014 of $412.8 million up
from total revenues of $381.7 million for the second quarter 2013. GEO
reported second quarter 2014 net income of $38.9 million, or $0.54 per diluted
share, up from $34.2 million, or $0.48 per diluted share for the second
quarter 2013.

Compared to second quarter 2013, GEO’s second quarter 2014 results reflect the
activation of 1,500 company-owned beds at three facilities in California in
November 2013; the assumption of management at three managed-only facilities
totaling 3,854 beds in the State of Florida in February 2014; a 400-bed
contract capacity expansion at the company-owned Rio Grande Detention Center
in Texas during the first quarter 2014; the opening of new day reporting
centers in Pennsylvania and California during the fourth quarter 2013 and
first quarter 2014; and improved occupancy rates across GEO’s diversified real
estate portfolio.

First Six Months 2014 Highlights

  *Net Income per Diluted Share of $0.93
  *Net Operating Income of $226.7 million
  *Normalized FFO of $1.30 per Diluted Share
  *AFFO of $1.56 per Diluted Share

For the first six months of 2014, Normalized FFO increased to $93.3 million,
or $1.30 per diluted share, from $83.6 million, or $1.17 per diluted share,
for the first six months of 2013. AFFO for the first six months of 2014
increased to $112.3 million, or $1.56 per diluted share, from $102.0 million,
or $1.43 per diluted share, for the first six months of 2013. For the first
six months of 2014, Net Operating Income increased to $226.7 million from
$210.8 million for the first six months of 2013.

GEO reported total revenues for the first six months of 2014 of $806.0 million
up from total revenues of $758.7 million for the first six months of 2013. GEO
reported net income of $66.9 million, or $0.93 per diluted share, for the
first six months of 2014, up from $57.6 million, or $0.81 per diluted share
for the first six months of 2013.

Compared to the first six months of 2013, GEO’s results for the first six
months of 2014 reflect the activation of 1,500 company-owned beds at three
facilities in California in November 2013; the assumption of management at
three managed-only facilities totaling 3,854 beds in the State of Florida in
February 2014; a 400-bed contract capacity expansion at the company-owned Rio
Grande Detention Center in Texas during the first quarter 2014; the opening of
new day reporting centers in Pennsylvania and California during the fourth
quarter 2013 and first quarter 2014; and improved occupancy rates across GEO’s
diversified real estate portfolio.

Net Operating Income, Funds From Operations (“FFO”), Normalized FFO, and AFFO
are widely used non-GAAP supplemental financial measures of REIT performance.
Please see the section of this press release below entitled “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.

2014 Financial Guidance

GEO increased its financial guidance for the full-year 2014 and issued
guidance for the third and fourth quarters 2014. GEO increased its full-year
2014 AFFO guidance to a range of $3.18 to $3.24 per diluted share, or $229
million to $234 million. On a GAAP basis, GEO increased its net income
guidance for the full year 2014 to a range of $1.93 to $1.99 per diluted
share.

GEO increased full-year 2014 revenue guidance to a range of $1.626 billion to
$1.636 billion. GEO increased its full-year 2014 Net Operating Income guidance
to a range of $465 million to $470 million. GEO increased its full-year 2014
Adjusted EBITDA guidance to a range of $338 million to $343 million.

For the third quarter 2014, GEO expects AFFO to be in a range of $0.81 to
$0.84 per diluted share. On a GAAP basis, GEO expects third quarter 2014 net
income per diluted share to be in a range of $0.50 to $0.53 and third quarter
2014 revenues to be in a range of $410 million to $415 million.

For the fourth quarter 2014, GEO expects AFFO to be in a range of $0.81 to
$0.84 per diluted share. On a GAAP basis, GEO expects fourth quarter 2014 net
income per diluted share to be in a range of $0.50 to $0.53 and fourth quarter
2014 revenues to be in a range of $410 million to $415 million.

GEO’s guidance reflects the expected activation and related start-up expenses
of the company-owned, 300-bed McFarland Female Community Reentry Facility in
California during the third quarter 2014 and the company-owned, 400-bed
Alexandria Transfer Center in Louisiana during the fourth quarter 2014.

Quarterly Dividend

On August 5, 2014, GEO’s Board of Directors declared a quarterly cash dividend
of $0.57 per share. The quarterly cash dividend will be paid on August 29,
2014 to shareholders of record as of the close of business on August 18, 2014.
The declaration of future quarterly cash dividends is subject to approval by
GEO’s Board of Directors and to meeting the requirements of all applicable
laws and regulations. GEO’s Board of Directors retains the power to modify its
dividend policy as it may deem necessary or appropriate in the future.

Reconciliation Tables and Supplemental Disclosure

GEO has made available a Supplemental Disclosure which contains reconciliation
tables of Net Income to Net Operating Income, EBITDA, and Adjusted EBITDA, and
Net Income to FFO, Normalized FFO and AFFO along with supplemental financial
and operational information on GEO’s business segments and other important
operating metrics. Please see the section of this press release 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 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 Disclosure which is available on GEO’s
Investor Relations webpage at www.geogroup.com.

Conference Call Information

GEO has scheduled a conference call and simultaneous webcast for today at
11:00 AM (Eastern Time) to discuss GEO’s second quarter 2014 financial results
as well as its progress and outlook. The call-in number for the U.S. is
1-888-679-8033 and the international call-in number is 1-617-213-4846. The
conference call participant passcode is 86120917. In addition, a live audio
webcast of the conference call may be accessed on the Conference
Calls/Webcasts section of GEO’s investor relations webpage at
www.geogroup.com. A replay of the audio webcast will be available on the
website for one year. A telephonic replay of the conference call will be
available until August 13, 2014 at 1-888-286-8010 (U.S.) and 1-617-801-6888
(International). The conference call participant passcode for the telephonic
replay is 98910003.

About The GEO Group

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 correctional, detention, and community reentry facilities
around the globe. GEO is the world's leading provider of diversified
correctional, detention, community reentry, and electronic monitoring services
to government agencies worldwide with operations in the United States,
Australia, South Africa, and the United Kingdom. GEO's worldwide operations
include the ownership and/or management of 98 facilities totaling
approximately 78,500 beds, including projects under development, with a
growing workforce of approximately 18,000 professionals.

Note to Reconciliation Tables and Supplemental Disclosure –

Important Information on GEO’s Non-GAAP Financial Measures

Net Operating Income, EBITDA, Adjusted EBITDA, Funds from Operations,
Normalized Funds from Operations and Adjusted Funds from Operations 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
Operating Income, EBITDA, Adjusted EBITDA, FFO, Normalized FFO, and AFFO. The
determination of the amounts that are 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 2014, 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
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.

Net Operating Income is defined as revenues less operating expenses, excluding
depreciation and amortization expense, general and administrative expenses,
and real estate related operating lease expense. Net Operating Income is
calculated as net income adjusted by subtracting equity in earnings of
affiliates, net of tax, and by adding income tax provision, interest expense,
net of interest income, depreciation and amortization expense, general and
administrative expenses, and real estate related operating lease expense.

EBITDA is defined as Net Operating Income adjusted by subtracting general and
administrative expenses, real estate related operating lease expense, and loss
on extinguishment of debt, pre-tax, and by adding equity in earnings of
affiliates, pre-tax. Adjusted EBITDA is defined as EBITDA adjusted for net
income/loss attributable to non-controlling interests, non-cash stock-based
compensation expenses, pre-tax, and certain other adjustments as defined from
time to time, including for the periods presented REIT conversion related
expenses, pre-tax, and loss on extinguishment of debt, pre-tax. Given the
nature of our business as a real estate owner and operator, 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 income from continuing operations. 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.

Funds from Operations, or FFO, is defined in accordance with standards
established by the National Association of Real Estate Investment Trusts, or
NAREIT, which defines FFO as net income/loss attributable to common
shareholders (computed in accordance with United States Generally Accepted
Accounting Principles), excluding real estate related depreciation and
amortization, excluding gains and losses from the cumulative effects of
accounting changes, extraordinary items and sales of properties, and including
adjustments for unconsolidated partnerships and joint ventures. Normalized
Funds from Operations, or Normalized FFO, is defined as FFO 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 REIT conversion related expenses, net of tax, tax benefit
related to IRS settlement and REIT conversion, and loss on extinguishment of
debt, net of tax.

Adjusted Funds from Operations, or AFFO, is defined as Normalized FFO adjusted
by adding non-cash expenses such as non-real estate related depreciation and
amortization, stock based compensation and the amortization of debt costs and
other non-cash interest and by subtracting recurring consolidated maintenance
capital expenditures.

Because of the unique design, structure and use of our correctional
facilities, we believe that assessing the performance of our correctional
facilities without the impact of depreciation or amortization is useful and
meaningful to investors. Although NAREIT has published its definition of FFO,
companies often modify this definition as they seek to provide financial
measures that meaningfully reflect their distinctive operations. We have
modified FFO to derive Normalized FFO and AFFO that meaningfully reflect our
operations. Our assessment of our operations is focused on long-term
sustainability. The adjustments we make to derive the non-GAAP measures of
Normalized FFO and AFFO exclude items which may cause short-term fluctuations
in income from continuing operations but have no impact on our cash flows, or
we do not consider them to be fundamental attributes or the primary drivers of
our business plan and they do not affect our overall long-term operating
performance.

We may make adjustments to FFO from time to time for certain other income and
expenses that do not reflect a necessary component of our operational
performance on the basis discussed above, even though such items may require
cash settlement. Because FFO, Normalized FFO and AFFO exclude depreciation and
amortization unique to real estate as well as non-operational items and
certain other charges that are highly variable from year to year, they provide
our investors with performance measures that reflect the impact to operations
from trends in occupancy rates, per diem rates, operating costs and interest
costs, providing a perspective not immediately apparent from income from
continuing operations. We believe the presentation of FFO, Normalized FFO and
AFFO provide useful information to investors as they provide an indication of
our ability to fund capital expenditures and expand our business. FFO,
Normalized FFO and AFFO 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. Additionally, FFO, Normalized FFO and AFFO are widely recognized
measures in our industry as a real estate investment trust.

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 affect actual results, including statements regarding financial
guidance for the third quarter and fourth quarter 2014 and full year 2014,
growth opportunities, and the expected activation of certain facilities in the
second half of 2014. Factors 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 2014 given the various risks to which its business is
exposed; (2) GEO’s ability to declare future quarterly cash dividends and the
timing and amount of such future cash dividends; (3) GEO’s ability to
successfully pursue further growth and continue to create shareholder value;
(4) risks associated with GEO’s ability to control operating costs associated
with contract start-ups; (5) 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; (6) GEO’s ability
to win management contracts for which it has submitted proposals and to retain
existing management contracts; (7) GEO’s ability to obtain future financing on
acceptable terms; (8) GEO’s ability to sustain company-wide occupancy rates at
its facilities; (9) GEO’s ability to access the capital markets in the future
on satisfactory terms or at all; (10) GEO’s ability to remain qualified as a
REIT; (11) the incurrence of REIT related expenses; and (12) other factors
contained in GEO’s Securities and Exchange Commission periodic filings,
including its Form 10-K, 10-Q and 8-K reports.

Second quarter and first six months 2014 financial tables to follow:

Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
                  
                         Q2 2014     Q2 2013      YTD 2014    YTD 2013
                                                                         
    Revenues                  $ 412,843    $ 381,653      $ 805,980    $ 758,684
    Operating                   300,058      279,246        591,981      560,043
    expenses
    Depreciation
    and                         23,748       23,657         47,890       46,592
    amortization
    General and
    administrative              28,148       27,363         56,650       59,403
    expenses
    Operating                   60,889       51,387         109,459      92,646
    income
    Interest
    income and                  824          1,165          1,556        2,349
    other
    Interest                    (20,602)     (21,103)       (41,254)     (40,444)
    expense
    Loss on
    extinguishment              -            (5,527)        -            (5,527)
    of debt
    Income before
    income taxes
    and equity in               41,111       25,922         69,761       49,024
    earnings of
    affiliates
    Provision for
    (benefit from)              3,387        (7,268)        5,525        (6,387)
    income taxes
    Equity in
    earnings of
    affiliates,                 1,174        1,029          2,658        2,246
    net of income
    tax provision
    Net income                  38,898       34,219         66,894       57,657
    Less: Net
    income
    attributable                -            (12)           (6)          (30)
    to
    noncontrolling
    interests
    Net income
    attributable              $ 38,898     $ 34,207       $ 66,888     $ 57,627
    to The GEO
    Group, Inc.
                                                                         
                                                                         
  Weighted Average
  Common Shares
  Outstanding:
    Basic                       71,749       71,083         71,599       70,967
    Diluted                     71,994       71,607         71,875       71,510
                                                                         
  Income per
  Common Share
  Attributable to
  The GEO Group,
  Inc. :
                                                                         
    Net income per            $ 0.54       $ 0.48         $ 0.93       $ 0.81
    share — basic
                                                                         
    Net income per
    share —                   $ 0.54       $ 0.48         $ 0.93       $ 0.81
    diluted
                                                                         

Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)

                                           
                                      As of
                                               June 30, 2014     December
                                                                   31, 2013
  ASSETS                                       (Unaudited)
                                                                   
  Current Assets
                                                                   
       Cash and cash                         $ 37,360            $ 52,125
       equivalents
       Restricted cash and                     14,448              11,518
       investments
       Accounts receivable, less
       allowance for doubtful                  270,965             250,530
       accounts
       Current deferred income                 20,936              20,936
       tax assets
       Prepaid expenses and                    39,998              49,236
       other current assets
              Total current                    383,707             384,345
              assets
  Restricted Cash and                          24,780              18,349
  Investments
  Property and Equipment, Net                  1,737,357           1,727,798
  Direct Finance Lease                         14,361              16,944
  Receivable
  Non-Current Deferred Income                  4,821               4,821
  Tax Assets
  Intangible Assets, Net                       657,086             653,596
  (including goodwill)
  Other Non-Current Assets                     83,271              83,511
       Total Assets                          $ 2,905,383         $ 2,889,364
                                                                   
                                                                   
  LIABILITIES AND SHAREHOLDERS'
  EQUITY
                                                                   
  Current Liabilities
                                                                   
       Accounts payable                      $ 56,467            $ 47,286
       Accrued payroll and                     39,807              38,726
       related taxes
       Accrued expenses                        127,839             114,950
       Current portion of capital lease
       obligations, long-term debt, and        22,837              22,163
       non-recourse debt
              Total current                    246,950             223,125
              liabilities
                                                                   
  Non-Current Deferred Income                  14,689              14,689
  Tax Liabilities
  Other Non-Current                            70,342              64,961
  Liabilities
  Capital Lease Obligations                    10,401              10,924
  Long-Term Debt                               1,479,027           1,485,536
  Non-Recourse Debt                            63,894              66,153
  Shareholders' Equity                         1,020,080           1,023,976
       Total Liabilities and                 $ 2,905,383         $ 2,889,364
       Shareholders' Equity
                                           

Reconciliation of Net Income to FFO, Normalized FFO, and AFFO
(In thousands, except per share data)
(Unaudited)
                               
                                                           
                                   Q2 2014     Q2 2013     YTD         YTD
                                                           2014        2013
                                                                       
  Net Income attributable        $ 38,898    $ 34,207    $ 66,888    $ 57,627
  to GEO
       Add:
           Real Estate Related
           Depreciation and        12,985      12,727      26,366      25,251
           Amortization
                                                                    
  Equals: NAREIT defined         $ 51,883    $ 46,934    $ 93,254    $ 82,878
  FFO
                                                                       
       Add:
           REIT conversion
           related expenses,       -           1,030       -           4,697
           net of tax
           Tax benefit related
           to IRS settlement &     -           (8,416)     -           (8,416)
           REIT conversion
           Loss on
           extinguishment of       -           4,396       -           4,396
           debt, net of tax
                                                                       
                                                                    
  Equals: FFO, normalized        $ 51,883    $ 43,944    $ 93,254    $ 83,555
                                                                       
       Add:
           Non-Real Estate
           Related                 10,763      10,930      21,524      21,341
           Depreciation &
           Amortization
           Consolidated
           Maintenance Capital     (4,961)     (5,679)     (9,381)     (9,296)
           Expenditures
           Stock Based
           Compensation            2,067       1,660       4,533       3,345
           Expenses
           Amortization of
           Debt Costs and          1,175       1,478       2,399       3,015
           Other Non-Cash
           Interest
                                                                       
                                                                    
  Equals: AFFO                   $ 60,927    $ 52,333    $ 112,329   $ 101,960
                                                                       
  Weighted average common          71,994      71,607      71,875      71,510
  shares outstanding - Diluted
                                                                       
                                                                       
  FFO/AFFO per Share -
  Diluted
                                                                       
       Normalized FFO Per        $ 0.72      $ 0.61      $ 1.30      $ 1.17
       Diluted Share
                                                                       
       AFFO Per Diluted          $ 0.85      $ 0.73      $ 1.56      $ 1.43
       Share
                               

Reconciliation of Net Income to Net Operating Income and Adjusted EBITDA
(In thousands)
(Unaudited)
                                   

                                 Q2 2014   Q2 2013    YTD        YTD
                                                           2014        2013
                                                                       
  Net income attributable to GEO   $ 38,898  $ 34,207    $ 66,888    $ 57,627
      Less
         Net (income)/loss
         attributable to             -         (12)        (6)         (30)
         noncontrolling interests
  Net Income                       $ 38,898  $ 34,219    $ 66,894    $ 57,657
                                                                       
                                                                       
      Add
         Equity in earnings of
         affiliates, net of income   (1,174)   (1,029)     (2,658)     (2,246)
         tax provision
         Income tax                  3,387     (7,268)     5,525       (6,387)
         (benefit)/provision
         Interest expense, net       19,778    19,938      39,698      38,095
         of interest income
         Loss on extinguishment      -         5,527       -           5,527
         of debt
         Depreciation and            23,748    23,657      47,890      46,592
         amortization
         General and                 28,148    27,363      56,650      59,403
         administrative expenses
  Net Operating Income, net of     $ 112,785 $ 102,407   $ 213,999   $ 198,641
  operating lease obligations
                                                                       
                                                                       
      Add: Operating lease           6,406     6,124       12,701      12,197
      expense, real estate
  Net Operating Income (NOI)       $ 119,191 $ 108,531   $ 226,700   $ 210,838
                                                                       
                                                                       
  Less:
         General and                 28,148    27,363      56,650      59,403
         administrative expenses
         Operating lease             6,406     6,124       12,701      12,197
         expense, real estate
         Loss on extinguishment      -         5,527       -           5,527
         of debt, pre-tax
         Equity in earnings of       (1,828)   (1,446)     (3,861)     (3,140)
         affiliates, pre-tax
  EBITDA                           $ 86,466  $ 70,963    $ 161,210   $ 136,851
                                                                       
  Adjustments
      Net income attributable to     -         (12)        (6)         (30)
      non-controlling interests
      Stock based compensation       2,067     1,660       4,533       3,345
      expenses, pre-tax
      REIT conversion related        -         1,466       -           7,438
      expenses, pre-tax
      Loss on extinguishment of      -         5,527       -           5,527
      debt, pre-tax
  Adjusted EBITDA                  $ 88,533  $ 79,604    $ 165,737   $ 153,131
                                                                       

2014 Outlook/Reconciliation
(In thousands, except per share data)
(Unaudited)

                                                   Full Year 2014 Guidance
                                                                  
Net Income                                          $ 139,000   to   $ 144,000
Real Estate Related Depreciation and Amortization   53,000           53,000
Funds from Operations (FFO)                         $ 192,000   to   $ 197,000
                                                                     
Adjustments                                         -                -
Normalized Funds from Operations                    $ 192,000   to   $ 197,000
                                                                     
Non-Real Estate Related Depreciation and            44,000           44,000
Amortization
Consolidated Maintenance Capex                      (21,000)         (21,000)
Non-Cash Stock Based Compensation and Non-Cash      14,000           14,000
Interest Expense
Adjusted Funds From Operations (AFFO)               $ 229,000   to   $ 234,000
                                                                     
Net Cash Interest Expense                           74,000           74,000
Consolidated Maintenance Capex                      21,000           21,000
Income Taxes                                        14,000           14,000
Adjusted EBITDA                                     $ 338,000   to   $ 343,000
                                                                     
G&A Expenses                                        111,000          111,000
Non-Cash Stock Based Compensation                   (9,000)          (9,000)
Real Estate Related Operating Lease Expense         25,000           25,000
Net Operating Income                                $ 465,000   to   $ 470,000
                                                                     
FFO Per Share (Normalized)                          $ 2.67      to   $ 2.73
AFFO Per Share                                      $ 3.18      to   $ 3.24
Weighted Average Common Shares                      72,000      to   72,250
Outstanding-Diluted

Contact:

The GEO Group, Inc.
Pablo E. Paez, 866-301-4436
Vice President, Corporate Relations
 
Press spacebar to pause and continue. Press esc to stop.