The GEO Group Reports Third Quarter 2016 Results

The GEO Group, Inc. (NYSE: GEO) ("GEO"), a fully integrated equity real estate investment trust ("REIT") and a leading provider of evidence-based offender rehabilitation and community reentry services around the globe, reported today its financial results for the third quarter 2016.

Third Quarter 2016 Highlights
  • Net Income Attributable to GEO of $0.59 per Diluted Share
  • Net Operating Income of $145.2 million
  • Normalized FFO of $0.79 per Diluted Share
  • AFFO of $0.96 per Diluted Share

GEO reported third quarter 2016 net income attributable to GEO of $43.7 million, or $0.59 per diluted share, compared to $38.3 million, or $0.52 per diluted share, for the third quarter 2015. GEO reported third quarter 2016 Normalized Funds From Operations ("Normalized FFO") of $59.1 million, or $0.79 per diluted share, compared to $54.7 million, or $0.74 per diluted share, for the third quarter 2015. GEO reported third quarter 2016 Adjusted Funds From Operations ("AFFO") of $71.5 million, or $0.96 per diluted share, compared to $66.3 million, or $0.90 per diluted share, for the third quarter 2015. GEO reported third quarter 2016 Net Operating Income ("NOI") of $145.2 million compared to $132.0 million for the third quarter 2015.

George C. Zoley, Chairman and Chief Executive Officer of GEO, said, "We are pleased with our strong third quarter results and our outlook for the fourth quarter and full year. We believe that our financial performance and continued organic growth is reflective of our diversified platform of real estate, management and programmatic solutions which allows us to provide cost-effective, high quality services for our government partners around the world and to deliver industry-leading, evidence-based rehabilitation programs both in-custody and in community-based settings to the men and women who have been entrusted to our care. We remain focused on maintaining our leadership in the delivery of these important programs and effectively allocating capital to continue to enhance value for our shareholders."

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