GEO Group runs private prisons, immigration detention centers, and community reentry programs across the US, Australia, and South Africa—essentially a landlord and operator for government corrections contracts.
Revenue comes from government contracts for secure facilities, electronic monitoring, and reentry services, with annual revenue of USD 2.63B and a net margin around 10%—recurring but tied to political budgets.
Long-term government contracts and specialized facility infrastructure create barriers, but CoreCivic and private equity entrants compete for renewals, while political pressure to reduce private detention weakens the model.
Key events, in time order
Q2 earnings call confirms revenue growth from 2025 contracts, raises full-year adjusted EBITDA outlook
New contract expands government services revenue, but note confusion with Cerrado Gold's ticker
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