Core Insights - The GEO Group, a publicly traded prison stock, was identified as having transitioned from being undervalued to fully priced since the industry's low point in 2021 [1] Company Analysis - The GEO Group was one of two prison stocks purchased during a low point in the industry, indicating a strategic investment decision based on market conditions [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from ______ to_______ Commission file number: 1-14260 The GEO Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ...

Financial Data and Key Metrics Changes - The company reported net income attributable to GEO of approximately $29 million or $0.21 per diluted share on quarterly revenue of approximately $636 million for Q2 2025, compared to a net loss of approximately $32.5 million or $0.25 per diluted share in Q2 2024 [26] - Adjusted net income for Q2 2025 was approximately $31 million or $0.22 per diluted share, compared to approximately $30 million or $0.23 per diluted share for the prior year [26] - Adjusted EBITDA for Q2 2025 was approximately $119 million, consistent with the prior year [26] Business Line Data and Key Metrics Changes - Revenues in owned and leased secure facilities increased by approximately 12% year over year, driven by new ICE contracts and census growth [27] - Revenues for non-residential contracts increased by approximately 10% from the prior year [27] - There was a 7% reduction in electronic monitoring and supervision services, a 2% reduction in reentry centers, and a 3% reduction in managed-only contracts [28] Market Data and Key Metrics Changes - Utilization across current ICE contracts increased from approximately 15,000 beds to 20,000 beds, representing the highest level of ICE utilization in the company's history [11] - The company has approximately 5,900 idle beds at six facilities, which could generate up to approximately $310 million in annualized revenues if fully utilized [12] Company Strategy and Development Direction - The company is focused on activating remaining idle facilities and exploring additional contract opportunities with ICE and the U.S. Marshals Service [13][15] - A $300 million stock buyback program has been authorized, expected to be executed at a rate of approximately $100 million per year [24][35] - The company aims to enhance shareholder value through disciplined capital allocation and debt reduction, targeting approximately $100 million in debt reduction per year [36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the potential for additional contract awards and the overall growth opportunities in the ICE sector [16][48] - The company anticipates that the funding from the budget reconciliation bill will be available in mid to late August, which could support the expansion of detention capacity [14] - Management expects growth in the ICEP contract to materialize late this year or early next year, coinciding with the maximization of ICE detention capacity [19][47] Other Important Information - The company completed the sale of its Lawton facility for $312 million, which is seen as a transformative event [22][23] - The company has increased its budget for physical plant and technology improvements to approximately $100 million to better respond to ICE's expanding needs [29] Q&A Session Summary Question: Can you clarify the potential revenue from the additional beds? - Management indicated that approximately $250 million could be generated from an additional 5,000 beds, as these would be incremental beds where overhead is already paid [53] Question: What is the status of the ISAP contract and the potential shift to ankle monitors? - Management has stocked up on ankle monitors and noted that additional funding may be required for the ISAP contract if there is a shift to more expensive monitoring devices [56] Question: Will there be additional debt reduction in the second half of the year? - Management expects to generate excess cash in the second half of the year, enabling continued debt reduction while also looking at share repurchases [58][59] Question: How is the company positioned for state-level opportunities? - Management confirmed that the focus on state clients has increased, with ongoing competitive bidding for facilities in Florida and improved funding streams in Georgia [61] Question: What is the outlook for contracting additional facilities with the Marshals Service? - Management is cautiously optimistic about opportunities with the Marshals Service, noting that discussions are underway and funding is a key consideration [80]

Financial Data and Key Metrics Changes - The company reported net income attributable to GEO of approximately $29 million or $0.21 per diluted share on quarterly revenue of approximately $636 million, compared to a net loss of approximately $32.5 million or $0.25 per diluted share in the prior year [24] - Adjusted net income for 2025 was approximately $31 million or $0.22 per diluted share, compared to approximately $30 million or $0.23 per diluted share for the prior year's second quarter [24] - Adjusted EBITDA for 2025 was approximately $119 million, consistent with the prior year [24] Business Line Data and Key Metrics Changes - Revenues in owned and leased secure facilities increased by approximately 12% year over year, driven by new ICE contracts and census growth [25] - Revenues for non-residential contracts increased by approximately 10% from the prior year [25] - There was a 7% reduction in electronic monitoring and supervision services, a 2% reduction in reentry centers, and a 3% reduction in managed-only contracts [25] Market Data and Key Metrics Changes - Utilization across current ICE contracts increased from approximately 15,000 beds to 20,000 beds, the highest level in the company's history [9] - The company has approximately 5,900 idle beds at six facilities, which could generate up to approximately $310 million in annualized revenues if fully utilized [10] Company Strategy and Development Direction - The company is focused on activating remaining idle facilities and exploring potential acquisitions or leasing of third-party facilities to meet ICE's stated objectives [12][13] - A $300 million stock buyback program has been authorized, expected to be executed at a rate of approximately $100 million per year while also targeting debt reduction [22][48] - The company aims to enhance shareholder value through disciplined capital allocation and deleveraging efforts [47][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the potential for additional contract awards with ICE and the U.S. Marshals Service during the third and fourth quarters [11] - The company anticipates that the funding from the budget reconciliation bill will be allocated soon, which could support the expansion of detention capacity [12] - Management expects growth in the ICEP contract to materialize late this year or early next year as detention capacity is maximized [46] Other Important Information - The company completed the sale of its Lawton facility for $312 million, which is seen as a transformative event [19] - The company has budgeted approximately $100 million for physical plant and technology improvements to respond to ICE's expanding needs [26] Q&A Session Summary Question: What kind of revenue would the additional beds generate? - Management estimated that approximately 5,000 additional beds could generate about $250 million in revenue [52] Question: Are there any updates on the ISAP contract and potential shifts to ankle monitors? - Management confirmed they have stocked up on ankle monitors and indicated that additional funding may be available for the ISAP contract [55] Question: Will there be additional debt reduction in the second half of the year? - Management expects to generate excess cash in the latter half of the year, allowing for continued debt reduction while also looking at share repurchases [58] Question: How is the company positioning itself for management contracts at government facilities? - Management prefers to own facilities and is focused on reactivating idle high-security facilities suitable for ICE and the U.S. Marshals Service [71] Question: What is the outlook for contracting additional facilities with the Marshals Service? - Discussions are ongoing, and management is cautiously optimistic about opportunities, particularly as funding becomes available [80]

Company Overview - The GEO Group, Inc owns and/or delivers support services for 97 facilities with approximately 74,000 beds worldwide[8] - The company specializes in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers[8] Financial Performance - Total revenue for YTD 2025 was $1,241,513 thousand, compared to $1,212,857 thousand for YTD 2024[16] - Net income attributable to The GEO Group, Inc for YTD 2025 was $48,666 thousand, compared to a loss of $9,845 thousand for YTD 2024[16] - Adjusted EBITDA for YTD 2025 was $218,363 thousand, compared to $236,893 thousand for YTD 2024[17] - The company's revenue guidance for 2025 is between $2,550,000 thousand and $2,575,000 thousand[14] Operational Metrics - The company's global operating portfolio includes 94 facilities in the United States with 68,944 beds and 3 international facilities with 5,246 beds[24] - The occupancy rate for owned and leased secure services facilities was 86% in Q2 2025[22] - Capital expenditures for YTD 2025 totaled $64,190 thousand, including $25,640 thousand for growth, $19,141 thousand for technology, and $19,409 thousand for facility maintenance[21] Debt and Capital Structure - As of June 30, 2025, the company's total debt payments were $220,115 thousand[37] - The company's outstanding principal for the Revolving Credit Facility due 2029 was $115,000 thousand as of June 30, 2025[39] - The outstanding principal for the Term Loan due 2029 was $296,867 thousand as of June 30, 2025[40] Customer Data - ICE accounted for 45% of GEO's revenue by customer type YTD 2025[31] - The contract retention rate for owned and leased facilities was 94%[30]

Exhibit 99.1 4955 Technology Way ∎ Boca Raton, Florida 33431 ∎ www.geogroup.com CR-25-16 THE GEO GROUP REPORTS SECOND QUARTER 2025 RESULTS AND ANNOUNCES $300 MILLION SHARE REPURCHASE PROGRAM Boca Raton, Fla. – August 6, 2025 — The GEO Group, Inc. (NYSE: GEO) ("GEO"), a leading provider of contracted support services for secure facilities, processing centers, and reentry centers, as well as enhanced in-custody rehabilitation, post-release support, and electronic monitoring programs, reported its financial re ...

Core Viewpoint - Geo Group (GEO) has shown a significant price increase of 9.8% over the past four weeks, with a mean price target of $41.8 indicating a potential upside of 60.2% from the current price of $26.1 [1] Price Targets and Analyst Estimates - The mean estimate consists of five short-term price targets with a standard deviation of $6.42, where the lowest estimate is $35.00 (34.1% increase) and the highest is $50.00 (91.6% increase) [2] - A low standard deviation among price targets suggests a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Analyst Consensus - Analysts have shown increasing optimism about GEO's earnings prospects, with a positive trend in earnings estimate revisions indicating potential upside [11] - The Zacks Consensus Estimate for the current year has risen by 3.9% over the past month, with no negative revisions [12] - GEO holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - While price targets are often sought after, they can mislead investors, as empirical research shows they rarely indicate actual stock price movements [7][10] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8]

Core Viewpoint - Geo Group (GEO) shares have shown a 0.8% increase over the past four weeks, closing at $26.33, with analysts suggesting a potential upside of 58.8% based on a mean price target of $41.8 [1] Price Targets and Analyst Consensus - The average price target for GEO is derived from five short-term estimates, ranging from a low of $35.00 to a high of $50.00, with a standard deviation of $6.42, indicating a potential increase of 32.9% to 89.9% from the current price [2] - A low standard deviation suggests a strong agreement among analysts regarding the price movement of GEO, which can serve as a starting point for further research [9] Earnings Estimates and Market Sentiment - Analysts have shown strong agreement in revising earnings per share (EPS) estimates higher for GEO, which correlates with potential stock price increases [11] - Over the past 30 days, one estimate has increased, leading to a 3.4% rise in the Zacks Consensus Estimate for the current year [12] - GEO holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13] Caution on Price Targets - While price targets are often sought after, they can mislead investors, as empirical research shows they rarely indicate actual stock price movements [7] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8] - Investors should approach price targets with skepticism and not rely solely on them for investment decisions [10]

Core Viewpoint - The detention of Sara Lizeth Lopez Garcia, a college student, and her mother by ICE highlights issues surrounding immigration enforcement and its impact on individuals with legal protections, such as Special Immigrant Juvenile status [4][8][14]. Group 1: Detention Details - Sara Lizeth Lopez Garcia, her mother, and her 17-year-old brother were detained by ICE on May 21 due to a mistaken address [3][4]. - They were initially detained in New York, then transferred to a New Jersey detention center, and finally sent to a Louisiana facility [5][6]. - The South Louisiana ICE Processing Center, where they are currently held, has a maximum capacity of 1,000 people and is privately owned by The GEO Group, Inc. [6]. Group 2: Legal Status and Protections - Lopez Garcia has an active Special Immigrant Juvenile status and is awaiting a visa to apply for her green card [7][8]. - Immigration attorney Ala Amoachi emphasized that the SIJ status is designed to protect vulnerable immigrant children, and the detention of individuals like Lopez Garcia demonstrates a disregard for humanitarian implications [8]. Group 3: Community Response - Professors and peers at Suffolk County Community College have expressed their support for Lopez Garcia, highlighting her achievements as a student with a 3.9 GPA and her involvement in community service [9][10]. - A GoFundMe campaign has been initiated to cover legal expenses for Lopez Garcia and her mother, emphasizing their contributions to the community and the need for support during this challenging time [11][12][14].

Group 1: Immigration Enforcement Impact - The United States is increasing immigration enforcement, creating potential benefits for private prison stocks [1] - Los Angeles is a focal point for recent Immigration and Customs Enforcement (ICE) raids, resulting in over 100 arrests and heightened political tensions [1] Group 2: CoreCivic (CXW) - CoreCivic, a leading private prison operator, is experiencing unprecedented demand due to increased ICE detention efforts [2] - The company reported Q1 earnings of $0.23 per share, nearly double expectations, with revenue reaching $488 million and facility capacity at 77% [3] - CoreCivic plans to open new detention centers, including a 2,560-bed facility in California and a 1,033-bed complex in Kansas, while expanding capacity in multiple states [3][4] Group 3: GEO Group (GEO) - GEO Group operates nearly 20 detention centers and has seen its stock rise over 80% post-2024 election due to expectations of increased immigration enforcement [6][7] - The company's stock is currently trading at $26.95, reflecting strong market performance [7] - GEO is expanding its electronic monitoring operations, currently tracking about 186,000 immigrants with plans to scale up to 450,000 using advanced technology [9] - In early 2025, GEO secured a contract with ICE to reopen the 1,000-bed Delaney Hall Facility in Newark, New Jersey [9]