Exhibit 99.1

 

LOGO   NEWS RELEASE
One Park Place, Suite 700 ● 621 Northwest 53rd Street ● Boca Raton, Florida 33487 ● www.geogroup.com

THE GEO GROUP REPORTS FOURTH QUARTER AND YEAR-END 2015 RESULTS

 

  4Q15 Normalized FFO of $0.80 per Diluted Share

 

  4Q15 AFFO of $0.97 per Diluted Share

 

  4Q15 EPS of $0.59 per Diluted Share

 

  Issues 2016 AFFO Guidance of $3.52 to $3.62 per Diluted Share

 

  2016 EPS Guidance of $1.94 to $2.04 per Diluted Share; Reflects Approx. $5.0 Million

in Incremental Non-Cash Interest Expense Related to Ravenhall Prison Project in Australia

Boca Raton, Fla. – February 17, 2016 — The GEO Group, Inc. (NYSE: GEO)

(“GEO”), a fully integrated equity real estate investment trust (“REIT”) specializing in the design, financing, development, and operation of correctional, detention, and community reentry facilities around the globe, reported today its financial results for the fourth quarter and full-year 2015.

Fourth Quarter 2015 Highlights

 

    Net Income Attributable to GEO of $0.59 per Diluted Share

 

    Net Operating Income of $142.5 million

 

    Normalized FFO of $0.80 per Diluted Share

 

    AFFO of $0.97 per Diluted Share

For the fourth quarter 2015, GEO reported Normalized Funds From Operations (“Normalized FFO”) of $58.9 million, or $0.80 per diluted share, compared to $51.9 million, or $0.70 per diluted share, for the fourth quarter 2014. GEO reported fourth quarter 2015 Adjusted Funds From Operations (“AFFO”) of $71.6 million, or $0.97 per diluted share, compared to $59.5 million, or $0.81 per diluted share, for the fourth quarter 2014. For the fourth quarter 2015, GEO reported Net Operating Income (“NOI”) of $142.5 million compared to $122.8 million for the fourth quarter 2014.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said, “We are very pleased with our strong fourth quarter results as well as our outlook for 2016, which reflect continued growth in multiple market segments across our diversified business units of GEO Corrections & Detention and GEO Care. During 2015, we completed several important operational milestones with the integration of 6,500 owned beds acquired from LCS Corrections as well as the activation of more than 8,700 new and expansion beds. The significant level of new growth projects is indicative of the continued need for correctional and detention bed space across the United States and of GEO’s ability to provide tailored real estate, management, and programmatic solutions across the entire spectrum of correctional services. We continue to be focused on pursuing new growth opportunities and remain optimistic about the growth prospects for our company.”

—More—

 

Contact:   Pablo E. Paez   

(866) 301 4436

  Vice President, Corporate Relations   


The following information was filed by Geo Group Inc (GEO) on Tuesday, February 23, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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