WASHINGTON (dpa-AFX) - The GEO Group Inc. (GEO) released a profit for first quarter that missed the Street estimates.
The company's earnings came in at $19.558 million, or $0.14 per share. This compares with $22.668 million, or $0.14 per share, last year.
Excluding items, The GEO Group Inc. reported adjusted earnings of $19.599 million or $0.14 per share for the period.
Analysts on average had expected the company to earn $0.19 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 0.2% to $604.647 million from $605.672 million last year.
The GEO Group Inc. earnings at a glance (GAAP) :
-Earnings: $19.558 Mln. vs. $22.668 Mln. last year. -EPS: $0.14 vs. $0.14 last year. -Revenue: $604.647 Mln vs. $605.672 Mln last year.
Looking ahead, for the full year, the company has revised up its outlook, but below analysts' estimates.
GEO Group now expects net income of $0.77 to $0.89 per share, compared with the previous outlook of $0.74 to $0.88 per share. Revenue is now anticipated to be around $2.53 billion against the earlier projection of around $2.5 billion.
Analysts, on average, forecast the Group to register annual earnings of $1.31 per share on revenue of $2.66 billion.
For the second quarter, the company also anticipates its result below Street expectations. The Group expects its second-quarter net profit to be $0.15 to $0.17 per share, on revenues of $615 million to $625 million.
Analysts, on average, expect the company to report income of $0.25 per share with revenue of $635.62 million for the quarter.
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