About the Company
The GEO Group, Inc. (GEO) is a publicly traded C corporation headquartered in Boca Raton, Florida, that invests in private prisons and mental health facilities in the United States, Australia, South Africa, and the United Kingdom. The company's facilities include immigration detention centers, minimum security detention centers, and mental-health and residential-treatment facilities. GEO also operates government-owned facilities pursuant to management contracts. As of September 30, 2024, the company owned or managed 80,000 beds at 99 facilities, making it the largest prison operator in the United States. In 2019, agencies of the federal government of the United States generated 53% of the company's revenues. Up until 2021 the company was designated as a real estate investment trust, at which time the board of directors elected to reclassify as a C corporation under the stated goal of reducing the company's debt. The company has been the subject of civil suits in the United States by prisoners and their families for injuries from riots and poor treatment at prisons and immigrant detention facilities. Due to settlement of a class-action suit in 2012 for its management of Walnut Grove Youth Correctional Facility in Mississippi, the GEO Group lost its contract for this and two other Mississippi prisons, which it had been operating since 2010. Related federal investigations of kickback and bribery schemes associated with nearly $1 billion in Mississippi state contracts for prisons and related services have resulted in the criminal prosecution of several public officials in the state. In 2017, the state attorney general announced a civil suit for damages, to recover monies from contracts completed in the period of corruption. In 2016, the U.S. Department of Justice announced its intention to phase out contracts with privately operated prisons. The U.S. Department of Homeland Security said it was reviewing its contracts with private firms, which operate several immigrant detention facilities. In the spring of 2017, officials of the Donald Trump administration said they would be reviewing this policy. In September 2019, California Governor Gavin Newsom announced that he would terminate California's contract with GEO's Central Valley Modified Community Correctional Facility in McFarland.
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Latest News on GEO GROUP INC
Boulder company makes ankle monitors used in immigration enforcement
A Boulder-based company is playing a key role in the Trump administration’s growing immigration surveillance network. BI Inc.
GEO Group loses latest bid to nix $23 mln verdict over immigrant detainee pay
Private prison operator GEO Group must pay more than $23 million to the state of Washington and hundreds of immigrant ...
Companies With No Prison Background Seek Share of Trump's $45B Migrant Detention Plan: Report
Private prison giants such as Geo Group Inc. remain key ICE partners, yet the administration reportedly views temporary tent ...
Top private prison companies see profits amid administration's immigration crackdown
The country's largest private prison companies are reporting significant profits amid the Trump administration's immigration ...
The GEO Group, Inc. (NYSE:GEO) Q2 2025 Earnings Call Transcript
Q2 2025 Earnings Call Transcript August 6, 2025 The GEO Group, Inc. beats earnings expectations. Reported EPS is $0.2072, ...
Largest ICE Facility Planned at Georgia Private Prison With Deadly Record
While much of the outrage over the rising number of immigration detention facilities is focused on Florida’s “Alligator ...
GEO Group shares jump over 4% following Q2 earnings beat
On Wednesday, The GEO Group, Inc. (NYSE:GEO) reported second-quarter results that surpassed analyst expectations, boosted by ...
Pennsylvania advocates call for shutdown of Moshannon after ICE detainee’s death
Advocates say most people detained by ICE in the Greater Philadelphia region are sent to Moshannon, the largest detention ...
The GEO Group Reports Second Quarter 2025 Results and Announces $300 Million Share Repurchase Program
The GEO Group, Inc. (NYSE: GEO) ("GEO"), a leading provider of contracted support services for secure facilities, processing ...
GEO Gets Hospital Group Backing in Immunity Appeal Timing Case
Government contractors’ ability to avoid lawsuits is “irrevocably lost” when they’re denied the chance to immediately appeal ...
Geo Group Inc. - Page 8 - The New York Times
GEO to Buy Cornell Companies for $685 Million The GEO Group, a prison services provider, said on Monday that it will buy a rival, Cornell Companies, for $685 million in a mix of stock and cash.
The GEO Group, Inc. (GEO) Q3 2024 Earnings Call Transcript
The GEO Group, Inc. (NYSE: GEO) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET Company Participants Pablo Paez – Executive Vice President-Corporate Relations George Zoley ...
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