The GEO Group Inc. Q3 Profit Drops, Inline With Estimates

(RTTNews) - The GEO Group Inc. (GEO) announced a profit for third quarter that decreased from the same period last year in line with the Street estimates.

The company's earnings totaled $24.52 million, or $0.16 per share. This compares with $38.34 million, or $0.26 per share, in last year's third quarter.

Excluding items, The GEO Group Inc. reported adjusted earnings of $23.63 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.3% to $602.79 million from $616.68 million last year.

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

-Earnings (Q3): $24.52 Mln. vs. $38.34 Mln. last year. -EPS (Q3): $0.16 vs. $0.26 last year. -Analyst Estimates: $0.19 -Revenue (Q3): $602.79 Mln vs. $616.68 Mln last year.