FX.co ★ The GEO Group Inc. Q1 Profit Decreases, misses estimates

The GEO Group Inc. recently released its first-quarter earnings, which were lower than the same period the previous year and fell short of Wall Street expectations.

The organization's net income was recorded at $22.668 million, equating to $0.14 per share. This is a decrease compared to last year's first-quarter results of $28.003 million or $0.19 per share.

When excluding particular items, The GEO Group Inc. reported an adjusted profit of $23.628 million or $0.18 per share for the period.

Analysts had, on average, projected the company to seize earnings of $0.19 per share. It is common for these approximations to exclude extraordinary items, according to data collected by Thomson Reuters.

The company's quarterly revenue dropped marginally by 0.4% to $605.672 million from $608.209 million the previous year.

To provide a concise summary of The GEO Group Inc.'s earnings based on Generally Accepted Accounting Principles (GAAP):

First-quarter earnings fell to $22.668 million from $28.003 million last year. The earnings per share (EPS) for the first quarter was $0.14, compared to $0.19 the previous year. Lastly, the first-quarter revenue stood at $605.672 million compared to $608.209 million last year.