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GEO Group Inc Reaffirms Q4 2013 Guidance; Narrows FY 2013 AFFO Guidance


Wednesday, 6 Nov 2013 07:30am EST 

GEO Group Inc confirmed and updated its financial guidance for the fourth quarter 2013 and fiscal 2013 to reflect its recent refinancing transaction and the reactivation of its Central Valley and Desert View Modified Community Correctional Facilities in California. The Company confirmed its fourth quarter 2013 revenue guidance in a range of $378 million to $383 million. GEO confirmed its AFFO guidance in a range of $0.70 to $0.73 per diluted share, or $50 million to $53 million. GEO expects fourth quarter 2013 GAAP income from continuing operations to be in a range of $0.29 to $0.31 per diluted share. GEO expects its fiscal 2013 AFFO guidance to be in a range of $2.85 to $2.88 per diluted share, or $204 million to $207 million. On a GAAP basis, GEO expects its income from continuing operations for fiscal 2013 to be in a range of $1.54 to $1.56 per diluted share, including approximately $14.0 million, after-tax, or $0.20 per diluted share, related to the write-off of deferred financing fees and $4.7 million, after-tax, or $0.07 per diluted share, in one-time expenses associated with GEO's REIT conversion offset by net tax benefits of $13.0 million, or $0.18 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $382 million and AFFO of $0.72 for fourth quarter of 2013; AFFO of $2.87 for fiscal 2013. 

Company Quote

38.09
0.07 +0.18%
24 Oct 2014