The GEO Group Inc. (GEO, Financial) filed Quarterly Report for the period ended 2012-07-01.
The Geo Group, Inc. has a market cap of $1.44 billion; its shares were traded at around $24.73 with a P/E ratio of 15.5 and P/S ratio of 0.9. The Geo Group, Inc. had an annual average earning growth of 20.5% over the past 10 years. GuruFocus rated The Geo Group, Inc. the business predictability rank of 2-star.
The decrease in revenues for GEO Care in Second Quarter 2012 compared to Second Quarter 2011 is primarily attributable to decreases in revenues of $3.7 million related to our terminated contracts. These decreases were partially offset by increases of $0.9 million due to new electronic monitoring contracts of BI and an increase of $2.4 million primarily due to population increases at certain facilities.
Revenues increased in First Half 2012 as compared to First Half 2011 primarily due to aggregate increases of $21.7 million due to the activation and intake of inmates at Adelanto East, Riverbend and Karnes. We also experienced aggregate increases in revenues of $18.5 million at certain of our facilities primarily due to increases in population and/or rates. These increases were partially offset by an aggregate decrease of $23.2 million due to contract terminations and other decreases primarily related to lower populations at some facilities.
The increase in revenues for GEO Care in First Half 2012 as compared to First Half 2011 is primarily attributable to a full six months of revenues generated by BI in 2012 compared to approximately four and a half months of revenues in 2011 which contributed to an increase of $15.2 million. We also experienced an increase in revenues of $4.5 million at certain of our facilities primarily due to increases in population and/or rates. These increases were partially offset by a decrease in revenues of $7.6 million related to our terminated contracts.
Equity in earnings of affiliates, presented net of income taxes, represents the earnings (loss) of SACS and GEOAmey, respectively. Overall, we experienced a decrease in equity in earnings of affiliates due to a $1.4 million net loss from the operations of GEOAmey, which began operating in August 2011. This loss was partially offset by an increase in net earnings from SACS of $0.5 million.
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The Geo Group, Inc. has a market cap of $1.44 billion; its shares were traded at around $24.73 with a P/E ratio of 15.5 and P/S ratio of 0.9. The Geo Group, Inc. had an annual average earning growth of 20.5% over the past 10 years. GuruFocus rated The Geo Group, Inc. the business predictability rank of 2-star.
Highlight of Business Operations:
Revenues increased in Second Quarter 2012 compared to Second Quarter 2011 primarily due to aggregate increases of $15.9 million due to the activation and intake of inmates at the 650-bed Adelanto ICE Processing Center East (Adelanto East) in August 2011, the 1,500-bed Riverbend Correctional Facility (Riverbend) in December 2011, and the 600-bed Karnes Civil Detention Center (Karnes) in March 2012. We also experienced aggregate increases in revenues of $8.7 million at certain of our facilities primarily due to increases in population and/or rates. These increases were partially offset by an aggregate decrease of $11.0 million primarily due to contract terminations and other decreases related to lower populations at some facilities.The decrease in revenues for GEO Care in Second Quarter 2012 compared to Second Quarter 2011 is primarily attributable to decreases in revenues of $3.7 million related to our terminated contracts. These decreases were partially offset by increases of $0.9 million due to new electronic monitoring contracts of BI and an increase of $2.4 million primarily due to population increases at certain facilities.
Revenues increased in First Half 2012 as compared to First Half 2011 primarily due to aggregate increases of $21.7 million due to the activation and intake of inmates at Adelanto East, Riverbend and Karnes. We also experienced aggregate increases in revenues of $18.5 million at certain of our facilities primarily due to increases in population and/or rates. These increases were partially offset by an aggregate decrease of $23.2 million due to contract terminations and other decreases primarily related to lower populations at some facilities.
The increase in revenues for GEO Care in First Half 2012 as compared to First Half 2011 is primarily attributable to a full six months of revenues generated by BI in 2012 compared to approximately four and a half months of revenues in 2011 which contributed to an increase of $15.2 million. We also experienced an increase in revenues of $4.5 million at certain of our facilities primarily due to increases in population and/or rates. These increases were partially offset by a decrease in revenues of $7.6 million related to our terminated contracts.
Equity in earnings of affiliates, presented net of income taxes, represents the earnings (loss) of SACS and GEOAmey, respectively. Overall, we experienced a decrease in equity in earnings of affiliates due to a $1.4 million net loss from the operations of GEOAmey, which began operating in August 2011. This loss was partially offset by an increase in net earnings from SACS of $0.5 million.
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