The GEO Group Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - The GEO Group Inc. (GEO) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $29.57 million, or $0.20 per share. This compares with $53.73 million, or $0.37 per share, in last year's second quarter.

Excluding items, The GEO Group Inc. reported adjusted earnings of $29.15 million or $0.24 per share for the period.

Analysts on average had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.0% to $593.89 million from $588.18 million last year.

The GEO Group Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $29.57 Mln. vs. $53.73 Mln. last year. -EPS (Q2): $0.20 vs. $0.37 last year. -Analyst Estimates: $0.20 -Revenue (Q2): $593.89 Mln vs. $588.18 Mln last year.