Financial Data and Key Metrics Changes - The company reported third quarter revenues of approximately $579 million and net income attributable to GEO of $0.33 per diluted share [13] - Adjusted net income for the third quarter was reported at $0.37 per diluted share, with an AFFO of $0.67 per diluted share [14] - The company expects fourth quarter net income attributable to GEO to be in the range of $0.23 to $0.25 per diluted share and full-year AFFO to be in the range of $2.43 to $2.45 per diluted share [18] Business Line Data and Key Metrics Changes - The GEO Care segment has been impacted by lower occupancy levels across reentry centers, day reporting programs, and youth services facilities due to COVID-19 [8] - The activation of the Golden State ICE Annex in California is expected to achieve normalized operations by the end of the year [10] - The company has entered into a four-month extension of the D. Ray James contract with the Federal Bureau of Prisons, which was previously set to expire [9] Market Data and Key Metrics Changes - Overall occupancy levels at Federal facilities for ICE, US Marshal Service, and the Bureau of Prisons have declined due to the pandemic [8] - The company has experienced lower occupancy levels in its GEO Care segment, which is expected to continue through the end of the year [15] Company Strategy and Development Direction - The company is focused on capital preservation and debt repayment, having reduced its quarterly dividend payments to $0.34 per share to allocate excess cash flows towards debt repayment [11] - The management team is exploring the potential sale of company-owned assets to government agencies or third parties [12] - The company believes it can continue to provide essential services to the Federal Government under either political party following the upcoming elections [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing operational and financial challenges associated with the COVID-19 pandemic but expressed confidence in the company's ability to navigate these challenges [5] - The company expects lower occupancy levels at ICE and US Marshals facilities to continue through the end of the year [15] - Management remains optimistic about the stability and strength of earnings and cash flows despite the pandemic [10] Other Important Information - The company has paid down approximately $80 million in net debt during 2020 and expects to pay down approximately $100 million in net debt this year [11] - The company has approximately $54 million in cash on hand and $370 million in borrowing capacity under its revolving credit facility [19] Q&A Session Summary Question: Thoughts on the election and potential changes in policy - Management refrained from speculating on the election outcome but noted a strong track record of providing services under both Democratic and Republican administrations [40] Question: Update on the D. Ray James facility contract - Management suggested that the extension may be related to the challenges of transferring populations during the pandemic [41] Question: Contract modifications for Desert View - The modification involves the use of the facility by the US Marshals Service [42] Question: State budget impacts on contract renewals - States are taking a wait-and-see approach regarding budget impacts and potential stimulus bills [45] Question: Progress on asset sales - Management is progressing in identifying facilities for potential sale but has not completed any sales yet [46] Question: Update on Nebraska RFP and new opportunities - The Nebraska RFP is moving forward slowly, and ICE has issued a request for information for capacity in the Northeast [47][49] Question: Cost trends and COVID-related expenses - The main savings have been in labor due to lower occupancy levels, with some ability to pass on COVID-related costs to customers [52][54] Question: Capital allocation priorities - The main focus remains on debt repayment and maintaining dividends, with share repurchases being a potential option in the future [56] Question: D. Ray James facility relocation timeline - Management estimates a three-month demobilization plan, which could be extended by the Bureau of Prisons [65] Question: Contract retention rates - The company has a high contract retention rate, with only a few contracts not renewed due to COVID-related challenges [55] Question: Refinancing options for 2022 notes - Management is monitoring the market for refinancing opportunities and believes there is access to capital [71]

The GEO Group, Inc. (NYSE:GEO) Q2 2020 Earnings Conference Call August 6, 2020 12:00 PM ET Company Participants Pablo Paez - EVP, Corporate Relations George Zoley - Chairman, CEO & Founder Brian Evans - CFO Ann Schlarb - President GEO Care Blake Davis - President, GEO Secure Services Conference Call Participants Joe Gomes - NOBLE Capital Mitra Ramgopal - Sidoti Jordan Sherman - Ranger Global Harvey Poppel - Poptech, LP Michael Levitin - MidOcean Credit Partners Operator Good morning everyone and welcome to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to_______ Commission file number: 1-14260 The GEO Group, Inc. (Exact name of registrant as specified in its charter) Florida 65-0043078 (State or ...

The GEO Group, Inc. (NYSE:GEO) Q1 2020 Earnings Conference Call April 30, 2020 11:00 AM ET Company Participants Pablo Paez - Executive Vice President-Corporate Relations George Zoley - Chairman & Chief Executive Officer Brian Evans – Senior Vice President & Chief Financial Officer Ann Schlarb - Senior Vice President & President-GEO Care David Donahue – Senior President, GEO Secure Services Conference Call Participants Joe Gomes - Noble Capital Mitra Ramgopal - Sidoti. Matthew Larson - National Securities Da ...

[PART I](index=4&type=section&id=PART%20I) [Business](index=4&type=section&id=Item%201.%20Business) The GEO Group, a REIT, specializes in owning and managing secure facilities and community services globally, with significant U.S. federal government contracts and a focus on rehabilitation - The GEO Group operates as a REIT, managing approximately **95,000 beds** in **129 secure and community-based facilities** worldwide as of year-end 2019[12](index=12&type=chunk) - In December 2019, GEO secured new **15-year contracts** with ICE for **five company-owned facilities** in California totaling **4,490 beds**, expected to generate over **$200 million in annualized revenue**[17](index=17&type=chunk)[22](index=22&type=chunk) - The company is marketing approximately **1,100 vacant beds** in idle facilities, with an estimated annual carrying cost of **$3.0 million** in 2020. Activation of these facilities could generate an estimated **$25 million in annual incremental revenue**[23](index=23&type=chunk) - In September 2019, the company issued its first Human Rights and Environmental, Social, and Governance (ESG) report, referencing GRI Standards and UN Guiding Principles to enhance transparency[25](index=25&type=chunk)[26](index=26&type=chunk) Business Segments Overview | Segment | Description | | :--- | :--- | | **U.S. Secure Services** | Encompasses U.S.-based public-private partnership secure services business | | **GEO Care** | Consists of community-based services, youth services, and electronic monitoring in the U.S. | | **International Services** | Includes public-private partnership secure services operations in Australia, South Africa, and the United Kingdom | | **Facility Construction & Design** | Contracts with government agencies for the design and construction of facilities, often linked to future management contracts | Revenue Concentration by Major Customer (2017-2019) | Customer | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | Various agencies of the U.S. Federal Government | 53% | 50% | 48% | [Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) The company faces material risks including potential loss of REIT status, significant indebtedness, reliance on government contracts, public and legislative opposition, and operational liabilities - Failure to maintain REIT qualification could subject the company to U.S. federal income tax at regular corporate rates, significantly reducing cash available for shareholder distributions[95](index=95&type=chunk)[97](index=97&type=chunk) - The company has approximately **$2.4 billion** in total consolidated indebtedness as of December 31, 2019. Several financial institutions have announced they will not renew or enter into new financing agreements with companies in this sector, which may adversely impact the ability to refinance this debt[112](index=112&type=chunk)[113](index=113&type=chunk) - A significant portion of revenue comes from a limited number of government customers. Three federal agencies (BOP, ICE, U.S. Marshals Service) accounted for **51.2% of consolidated revenues** in 2019[135](index=135&type=chunk) - Public resistance and legislative actions, such as California's AB 32 law phasing out private prison contracts, pose a material risk to obtaining new contracts and retaining existing ones. Similar legislation is being considered in other states like Washington[137](index=137&type=chunk)[143](index=143&type=chunk) - The business is exposed to various legal claims, including civil rights, medical malpractice, and employment matters. The company maintains insurance but has substantial deductibles (**$3.0 million** for general liability) and carries no insurance for employment-related claims[83](index=83&type=chunk)[85](index=85&type=chunk)[155](index=155&type=chunk) [Unresolved Staff Comments](index=44&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the Securities and Exchange Commission - None[196](index=196&type=chunk) [Properties](index=44&type=section&id=Item%202.%20Properties) The company owns its corporate headquarters in Boca Raton, Florida, and leases other offices, with detailed property lists available in Item 1 - The company owns its corporate headquarters in Boca Raton, FL, which was completed in Q1 2019, and leases various regional offices[197](index=197&type=chunk) - A comprehensive list of owned or leased correctional, detention, and reentry properties is available in the 'Facilities and Day Reporting Centers' section of Item 1[199](index=199&type=chunk) [Legal Proceedings](index=45&type=section&id=Item%203.%20Legal%20Proceedings) Information regarding legal proceedings is incorporated by reference from Note 18 of the Consolidated Financial Statements - Details on legal proceedings are incorporated by reference from Note 18 - Commitments and Contingencies[200](index=200&type=chunk) [Mine Safety Disclosures](index=45&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[201](index=201&type=chunk) [PART II](index=45&type=section&id=PART%20II) [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=45&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NYSE, and as a REIT, it must distribute at least 90% of taxable income, though its five-year cumulative return underperformed key indices - The company's common stock is traded on the NYSE under the ticker symbol "GEO"[203](index=203&type=chunk) - As a REIT, the company is required to distribute at least **90%** of its REIT taxable income annually to shareholders[203](index=203&type=chunk) Comparison of Five-Year Cumulative Total Return (2014-2019) | Index | Value (assuming $100 invested on 12/31/2014) | | :--- | :--- | | **The GEO Group, Inc.** | **$92.99** | | Russell 2000 | $138.50 | | S&P 500 Commercial Services and Supplies | $160.35 | | MSCI U.S. REIT Index | $114.40 | [Selected Financial Data](index=46&type=section&id=Item%206.%20Selected%20Financial%20Data) This section presents five years of selected financial data, highlighting consistent revenue growth, stable net income, increasing assets and debt, and rising cash dividends per share Selected Financial Data (2015-2019) | Metric (in thousands, except per share data) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenues** | $2,477,922 | $2,331,386 | $2,263,420 | $2,179,490 | $1,843,307 | | **Operating income** | $300,413 | $264,665 | $248,285 | $265,584 | $235,729 | | **Net income** | $166,412 | $144,827 | $146,024 | $148,498 | $139,315 | | **Diluted EPS** | $1.40 | $1.20 | $1.21 | $1.33 | $1.25 | | **Cash Dividends per Share** | $1.92 | $1.88 | $1.88 | $1.73 | $1.67 | | **Total assets** | $4,317,534 | $4,258,118 | $4,226,908 | $3,749,409 | $3,462,227 | | **Long-term debt** | $2,436,039 | $2,429,312 | $2,217,287 | $1,957,530 | $1,878,870 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=47&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section discusses the company's 2019 financial performance, highlighting revenue growth driven by U.S. Secure Services, key accounting policies, debt management, cash flow, non-GAAP measures, and future outlook with legislative risks Revenues by Segment (2019 vs. 2018) | Segment (in thousands) | 2019 | 2018 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | U.S. Secure Services | $1,601,679 | $1,492,973 | $108,706 | 7.3% | | GEO Care | $614,249 | $580,313 | $33,936 | 5.8% | | International Services | $232,016 | $253,874 | ($21,858) | (8.6)% | | Facility Construction & Design | $29,978 | $4,226 | $25,752 | 609.4% | | **Total** | **$2,477,922** | **$2,331,386** | **$146,536** | **6.3%** | - The increase in U.S. Secure Services revenue was primarily driven by higher populations, new contract activations at facilities in Louisiana, Texas, and Michigan, and a contract expansion in Texas[273](index=273&type=chunk) - The company's effective tax rate was **9.6%** in 2019, slightly up from **9.5%** in 2018. As a REIT, the company expects its annual effective tax rate to be in the **10% to 12% range**, exclusive of discrete items[294](index=294&type=chunk) - In June 2019, the company amended its credit agreement, extending the maturity of its **$900 million revolver** to May 17, 2024. As of year-end, **$317.0 million** was available for borrowing[298](index=298&type=chunk)[301](index=301&type=chunk)[310](index=310&type=chunk) Funds from Operations (FFO) and Adjusted FFO Reconciliation (2019 vs. 2018) | Metric (in thousands) | Dec 31, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | Net income attributable to The GEO Group, Inc. | $166,603 | $145,089 | | NAREIT Defined FFO | $241,487 | $220,028 | | Normalized Funds from Operations | $260,741 | $234,293 | | **Adjusted Funds from Operations (AFFO)** | **$328,429** | **$297,829** | - The company's outlook acknowledges that California's AB 32 legislation will lead to the discontinuation of contracts with the California Department of Corrections for the Desert View and Golden State facilities in 2020[356](index=356&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=74&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks, primarily from interest rate fluctuations on its senior credit facility and foreign currency exchange rate changes impacting international operations - The company is exposed to interest rate risk on its senior credit facility. A **1% increase** in the applicable interest rate would raise annual interest expense by approximately **$13.0 million** based on borrowings as of December 31, 2019[366](index=366&type=chunk) - The company is exposed to foreign currency risk from its operations in Australia, South Africa, and the United Kingdom. A **10% change** in exchange rates would have a **$6.0 million** effect on its financial position and a **$2.1 million** impact on its results of operations over the next fiscal year[369](index=369&type=chunk) [Financial Statements and Supplementary Data](index=75&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for 2019, including the auditor's unqualified opinion, key financial statements, and detailed notes on accounting policies and financial positions [Consolidated Statements of Operations](index=81&type=section&id=Consolidated%20Statements%20of%20Operations) Consolidated Statements of Operations (2017-2019) | Line Item (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | **Revenues** | **$2,477,922** | **$2,331,386** | **$2,263,420** | | Operating Income | $300,413 | $264,665 | $248,285 | | Income Before Income Taxes | $173,528 | $149,317 | $151,937 | | **Net Income Attributable to The GEO Group, Inc.** | **$166,603** | **$145,089** | **$146,241** | | Diluted EPS | $1.40 | $1.20 | $1.21 | [Consolidated Balance Sheets](index=83&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Data (as of Dec 31) | Line Item (in thousands) | 2019 | 2018 | | :--- | :--- | | **Current Assets** | $547,778 | $601,762 | | Property and Equipment, Net | $2,144,722 | $2,158,610 | | Goodwill | $776,356 | $776,359 | | **Total Assets** | **$4,317,534** | **$4,258,118** | | **Current Liabilities** | $395,928 | $705,238 | | Long-Term Debt | $2,408,297 | $2,397,227 | | **Total Liabilities** | $3,321,486 | $3,218,214 | | **Total Shareholders' Equity** | **$996,048** | **$1,039,904** | [Consolidated Statements of Cash Flows](index=85&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Statements of Cash Flows (2017-2019) | Line Item (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | **Net cash provided by operating activities** | **$338,143** | **$274,475** | **$381,042** | | Net cash used in investing activities | ($104,137) | ($188,483) | ($500,255) | | Net cash (used in) provided by financing activities | ($250,654) | ($124,966) | $164,719 | | **Net (Decrease) Increase in Cash** | **($17,000)** | **($49,073)** | **$43,188** | [Note 13. Debt](index=120&type=section&id=Note%2013.%20Debt) Debt Composition as of December 31, 2019 | Debt Instrument | Amount (in thousands) | | :--- | :--- | | Senior Credit Facility (Term Loan & Revolver) | $1,298,671 | | 6.00% Senior Notes due 2026 | $350,000 | | 5.875% Senior Notes due 2024 | $250,000 | | 5.125% Senior Notes due 2023 | $300,000 | | 5.875% Senior Notes due 2022 | $193,958 | | Non-Recourse Debt & Other | $371,588 | | **Total Debt (Principal)** | **$2,764,217** | - In August 2019, the Board authorized the repurchase of up to **$100.0 million** of its senior notes and term loan. During 2019, the company repurchased approximately **$56.0 million** of its 5.875% Senior Notes due 2022[625](index=625&type=chunk)[626](index=626&type=chunk) [Note 16. Business Segments and Geographic Information](index=135&type=section&id=Note%2016.%20Business%20Segments%20and%20Geographic%20Information) Operating Income by Segment (2017-2019) | Segment (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | U.S. Secure Services | $322,506 | $297,453 | $302,488 | | GEO Care | $147,036 | $138,911 | $123,525 | | International Services | $16,723 | $12,816 | $14,235 | | Facility Construction & Design | $74 | $— | ($1,620) | | **Operating income from segments** | **$486,339** | **$449,180** | **$438,628** | Revenues by Geography (2017-2019) | Geography (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | U.S. operations | $2,216,401 | $2,073,286 | $1,952,210 | | Australia operations | $235,462 | $231,164 | $285,702 | | South African operations | $18,779 | $19,806 | $18,251 | | United Kingdom operations | $7,280 | $7,130 | $7,257 | | **Total revenues** | **$2,477,922** | **$2,331,386** | **$2,263,420** | [Note 18. Commitments and Contingencies](index=143&type=section&id=Note%2018.%20Commitments%20and%20Contingencies) - The company faces several class-action lawsuits in Colorado, Washington, and California filed by former civil immigration detainees alleging violations of minimum wage laws and/or the Trafficking Victims Protection Act (TVPA) related to voluntary work programs. The company is vigorously defending these lawsuits[708](index=708&type=chunk) - On December 30, 2019, GEO filed a lawsuit challenging California's Assembly Bill 32 (AB-32), which aims to bar federal government contracts with private detention service providers, arguing the law is unconstitutional under the Supremacy Clause[709](index=709&type=chunk) - As of December 31, 2019, the company had contractual commitments for capital projects estimated to cost approximately **$61.0 million**, with a remaining requirement of **$33.0 million** expected to be spent through 2020[706](index=706&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=158&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[734](index=734&type=chunk) [Controls and Procedures](index=158&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of December 31, 2019, with no material changes to internal control over financial reporting during the fourth quarter - Management concluded that as of the end of the period, disclosure controls and procedures were effective[735](index=735&type=chunk) - There were no material changes to internal control over financial reporting during the fourth quarter of 2019[740](index=740&type=chunk) [Other Information](index=159&type=section&id=Item%209B.%20Other%20Information) This item is not applicable - Not applicable[741](index=741&type=chunk) [PART III](index=160&type=section&id=PART%20III) [Directors, Executive Officers and Corporate Governance](index=160&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information regarding directors, executive officers, and corporate governance, including the code of conduct, is incorporated by reference from the 2020 proxy statement - Information required by this item is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders[744](index=744&type=chunk) [Executive Compensation](index=160&type=section&id=Item%2011.%20Executive%20Compensation) Information regarding executive compensation is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders - Information required by this item is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders[745](index=745&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=160&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information regarding security ownership of beneficial owners and management is incorporated by reference from the proxy statement for the 2020 annual meeting - Information required by this item is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders[746](index=746&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=160&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information regarding certain relationships, related transactions, and director independence is incorporated by reference from the proxy statement for the 2020 annual meeting - Information required by this item is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders[747](index=747&type=chunk) [Principal Accounting Fees and Services](index=160&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information regarding principal accounting fees and services is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders - Information required by this item is incorporated by reference from the proxy statement for the 2020 annual meeting of shareholders[748](index=748&type=chunk) [PART IV](index=160&type=section&id=PART%20IV) [Exhibits, Financial Statement Schedules](index=160&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists all financial statements, schedules, and exhibits filed as part of the Annual Report on Form 10-K, including consolidated financial statements and a comprehensive list of supporting documents - This section lists all financial statements, schedules, and exhibits filed with the report, including debt indentures, credit agreements, and executive compensation plans[750](index=750&type=chunk)[751](index=751&type=chunk) [Form 10-K Summary](index=171&type=section&id=Item%2016.%20Form%2010-K%20Summary) The company indicates that no Form 10-K summary is provided - None[765](index=765&type=chunk)

The GEO Group, Inc. ® Supplemental Information Fourth Quarter and Full Year 2019 The GEO Group, Inc.'s ("GEO") Unaudited Reconciliation Tables and Supplemental Disclosure presented herein speaks only as of the date or period indicated, and GEO does not undertake any obligation, and disclaims any duty, to update any of this information, except as requested by law. GEO's future financial performance is subject to various risks and uncertainties that could cause actual results to differ materially from expecta ...

Financial Data and Key Metrics Changes - The company reported third-quarter revenues of approximately $632 million and net income attributable to GEO of $0.39 per diluted share, reflecting a strong performance [27] - Adjusted net income was reported at $0.44 per diluted share, exceeding the guidance range of $0.37 to $0.39 per diluted share [28] - The company increased its full-year AFFO guidance to a range of $2.75 to $2.77 per diluted share [31] Business Line Data and Key Metrics Changes - The reactivation of previously-idle facilities totaling 4,600 beds is expected to drive future cash flow growth [7] - The South Louisiana ICE processing center is projected to generate annualized revenues of approximately $25 million, while the North Lake Michigan correctional facility is expected to generate approximately $37 million in annualized revenues [45] - The GEO Continuum of Care program has been implemented at 18 state correctional facilities and two federal facilities, with a commitment of $10 million representing 7% of the company's net income [21] Market Data and Key Metrics Changes - The company is actively pursuing new contracts in California, with proposals submitted for existing facilities in the San Francisco and Los Angeles areas [79] - The U.S. Marshals Service is expected to award a management contract for the 512-bed El Centro facility before the end of the year [11] - The company is engaged in expansion projects in Australia, including a 300-bed expansion at the Ravenhall Correctional Centre, expected to generate additional annual revenues of $19 million [53] Company Strategy and Development Direction - The company aims to maintain its financial guidance for the fourth quarter while focusing on cash flow stability and dividend sustainability [6][25] - The company is committed to expanding its GEO Continuum of Care program, which integrates rehabilitation services with post-release support [22] - The company is actively addressing misinformation regarding its role as a service provider and maintaining strong banking relationships [23][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong fundamentals and ongoing growth despite political challenges [66] - The company acknowledged the volatility in equity and debt markets driven by a false narrative regarding its operations [15][35] - Management expects to apply excess cash flow towards debt reduction while maintaining dividend payments [41][68] Other Important Information - The company published its first-ever Human Rights and ESG report, highlighting its commitment to human rights and ethical governance practices [19][20] - The company has successfully extended the maturity of its senior revolving credit facility to May 2024 without changes in terms [24] Q&A Session Summary Question: Can you provide more details on the $44 million loan? - The loan was taken from several banks, and specific properties securing the loan have not been disclosed [72] Question: What is the risk associated with contracts expiring in California? - Both facilities are owned by the company, and proposals for new contracts have been submitted [77][78] Question: How does the political climate in California affect operations? - The company is monitoring the situation and believes there are alternatives available, including leasing or selling properties if necessary [83] Question: Will the new California legislation impact federal contracts? - Existing contracts can continue until their terms expire, as the new legislation does not affect contracts in place before the end of the year [87]

The GEO Group, Inc. (NYSE:GEO) Q2 2019 Earnings Conference Call July 30, 2019 11:00 AM ET Company Participants Pablo Paez – Executive Vice President-Corporate Relations George Zoley – Chairman and Chief Executive Officer Brian Evans – Chief Financial Officer David Donahue – President-GEO Secure Services Ann Schlarb – President-GEO Care Conference Call Participants Jordan Sherman – Ranger Global David Stuehr – Longfellow Andrew Berg – Post Advisory Walt Sosnowski – SRC Capital Operator Good morning, and welc ...

Geo Group, Inc. (NYSE:GEO) Q1 2019 Earnings Conference Call April 30, 2019 11:00 AM ET Company Participants Pablo Paez - EVP, Corporate Relations George Zoley - Founder, Chairman & CEO Brian Evans - SVP & CFO David Donahue - SVP & President, U.S. Corrections, Detention & International Operations Ann Schlarb - SVP & President, GEO Care Conference Call Participants Tobey Sommer - SunTrust Robinson Humphrey Operator Good morning, and welcome to the GEO Group First Quarter 2019 Earnings Conference Call. [Operat ...

The GEO Group, Inc. ® Supplemental Information First Quarter 2019 The GEO Group, Inc.'s ("GEO") Unaudited Reconciliation Tables and Supplemental Disclosure presented herein speaks only as of the date or period indicated, and GEO does not undertake any obligation, and disclaims any duty, to update any of this information. GEO's future financial performance is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect GEO's ...