Exhibit 99.1 THE GEO GROUP REPORTS FIRST QUARTER 2024 RESULTS Boca Raton, Fla. – May 7, 2024 — The GEO Group, Inc. (NYSE: GEO) ("GEO"), a leading provider of 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 today its financial results for the first quarter 2024. First Quarter 2024 Highlights For the first quarter 2024, we reported net income of $22.7 million, comp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to_______ Commission file number: 1-14260 The GEO Group, Inc. (Exact name of registrant as specified in its charter) Florida 65-0043078 (State or other jurisdicti ...

Investors looking for stocks in the Business - Services sector might want to consider either Geo Group (GEO) or Rentokil Initial PLC (RTO) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Sc ...

Financial Data and Key Metrics Changes - The company reported first quarter revenues of approximately $606 million, a GAAP net income of approximately $23 million, and adjusted EBITDA of approximately $118 million [6][68] - Revenues for owned and leased secure facilities increased by approximately 7% year-over-year, driven by population increases in ICE facilities [7][68] - Managed-only segment revenues increased by approximately 14% year-over-year, attributed to new contract activations in secure transportation and international businesses [9][68] - Operating expenses increased by approximately 2% due to inflationary cost increases and higher occupancy levels [30] Business Line Data and Key Metrics Changes - Revenues in the GEO Reentry Services Division increased by approximately 19% year-over-year, with three residential reentry center contracts renewed [13][40] - The non-residential reentry services segment also saw a revenue increase of approximately 19% year-over-year [40] - The ISAP participant count averaged approximately 188,000 individuals during the first quarter, a slight decrease from the previous quarter [14][80] Market Data and Key Metrics Changes - Federal funding for ICE detention increased to 41,500 beds from the previous level of 34,000 beds, reflecting a 7% increase in funding for alternatives to detention programs [8][54] - The U.S. Marshals Detention Facilities experienced a population increase of approximately 5% since the beginning of the year [34] Company Strategy and Development Direction - The company is focused on enhancing long-term value for shareholders through disciplined capital allocation and strategic refinancing of debt [5][38] - The management team aims to market approximately 10,000 idle secure services facilities to local, state, and federal agencies for potential reactivation [26][82] - The company has a longstanding partnership with ICE and is positioned to support the agency with a range of services, including additional bed capacity and electronic monitoring technologies [36][37] Management's Comments on Operating Environment and Future Outlook - Management expects utilization rates for detention beds and alternatives to detention programs to potentially increase in the second half of the year, consistent with seasonal increases in border crossing activity [15][25] - The company has maintained its full-year 2024 adjusted EBITDA guidance despite uncertainties in utilization rates due to external factors [16][41] - Management emphasized the importance of operational excellence and the ability to respond to government agency needs as policy priorities evolve [25][57] Other Important Information - The company successfully completed refinancing of substantially all its debt, reducing overall cost of debt and extending maturities [18][43] - The effective tax rate for the first quarter of 2024 was approximately 26% [30] Q&A Session Summary Question: Clarification on ICE bed counts - Management noted a significant ramp-up in the census of those in detention facilities, with recent funding allowing for an increase in ICE facility counts [60] Question: New business opportunities on state and local levels - Management indicated that while there are requests for beds at smaller scales, they are focusing on larger governmental users [62] Question: Impact of potential changes in administration on BOP contracts - Management suggested that a change in administration could lead to a reestablishment of contracts with the BOP, given the rising populations [85][93] Question: Guidance assumptions for second half occupancy levels - Management clarified that the high end of guidance assumes a progressive increase in bed counts, but exact levels are uncertain [94] Question: Trends in capital returns and leverage - Management indicated that capital returns would likely be evaluated after leverage steps down, expected in the middle of next year [95] Question: ISAP population declines - Management attributed declines in ISAP populations to budget deficits within ICE, which affected detention capacity [137] Question: Developments on alternatives to detention - Management noted that additional funding was used to offset deficits in various programs, including ISAP, before achieving higher levels [105]

Geo Group (GEO) came out with quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this private prison operator would post earnings of $0.18 per share when it actually produced earnings of $0.29, delivering a surprise of 61.11%.Over the last four quarters, the ...

Geo Group (GEO) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this private prison operator have returned +6.8% over the past month versus the Zacks S&P 500 composite's -4.1% change. The Zacks Business - Services industry, to which Geo Group belongs, has lost 7.8% over this period. Now the key question is: Where could the stock be headed in the near term ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Geo Group (GEO) .Geo Group currently has an average brokerage recommendation (ABR) of 1.00, on ...

The 2024 U.S. presidential election season is heating up, and the primary season is wrapping up. Yet, no matter whether you are a Democrat, Republican, Independent or none of the above, election-year stocks could be a great opportunity for your portfolio.Even before ballots are cast on Nov. 5, 2024, many stocks with election-related catalysts will likely make big moves in anticipation of the results. As you would expect, some stocks stand to gain if it appears likely that presumptive Republican party candid ...

The market is under pressure. The “soft landing” and “no landing” narratives are being tested. Important technical support levels like the 50-day moving average are failing left-and-right. It’s beginning to feel a lot like the bull run we’ve enjoyed since October is nearing an end.You can do one of two things in a market like this. You can cower under your desk and ignore your statements, or you can get together a neat little shopping list and keep investing. The latter is really how the money is made in ma ...

Geo Group (GEO) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.The upward trend in estimate revisions for this private prison operator reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation betwee ...