GEO Group Reports Record Q3 2026 Adjusted EBITDA and Strong Revenue Growth
GEO Group (GEO) reported strong third-quarter 2026 financial results, highlighted by a 12% year-over-year revenue increase to $761.1 million. The company achieved a record quarterly Adjusted EBITDA of $145.3 million, representing a 21% increase compared to the previous year. This growth was primarily driven by new facility activations and expanded service contracts, particularly within its ICE processing operations. The company significantly strengthened its balance sheet through the sale of the Adelanto Complex for a gross price of $950 million. The net proceeds were used to fully redeem $650 million in senior secured notes due 2029, reducing total outstanding corporate debt to $625 million and bringing net leverage down to 1.0x Adjusted EBITDA. Looking ahead, management raised full-year guidance for revenue and earnings, supported by a robust pipeline of new contracts expected to commence in 2027.
Topics: asset sale debt redemption EBITDA increase guidance update revenue growth