The GEO Group (GEO) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached a quarterly record of $761.1M, up 11.5% YoY; Adjusted EBITDA set a record at $145.3M, up 21%.

• Adjusted net income rose 48% to $51.8M; reported net income was $49.2M versus $173.9M, with the prior-year comparison including an asset-divestiture gain.

Financial highlights

• Q3 revenue was $761.1M versus $682.3M; operating income was $293.4M versus $173.7M.

• Q3 net income was $49.2M, or $0.37 per diluted share, versus $173.9M, or $1.24; the prior-year period included a $232.4M pre-tax asset-divestiture gain.

• Q3 adjusted net income was $51.8M, or $0.39 per diluted share, versus $35.0M, or $0.25; Adjusted EBITDA was $145.3M versus $120.1M.

• 9M revenue was $2.20B versus $1.92B; Adjusted EBITDA was $418.7M versus $338.5M, and adjusted net income was $139.2M versus $85.3M.

Outlook and guidance

• FY26 guidance: revenue $2.975B–$3.025B; Adjusted EBITDA $568M–$573M; adjusted net income $185M–$190M, or $1.40–$1.44 per diluted share.

• FY26 reported net income guidance is $726.3M–$730.5M, including the Adelanto sale gain; effective tax-rate assumptions range from 28% to 31% across guidance disclosures.

• Q4 guidance: revenue $777M–$827M; Adjusted EBITDA $149M–$154M; adjusted net income $46M–$51M, or $0.35–$0.39 per diluted share.

• FY26 unreimbursed capital expenditures are expected at $140M–$150M; outlook excludes potential one-time legal settlements.