Monday, August 10, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. GEO delivered better-than-expected performance in the second quarter of 2026, reflecting significant revenue growth from the contracts that the Company entered into throughout 2025. With recently signed new contracts and still significant idle capacity, we believe there remains substantial opportunity for additional increases in operating results.
2Q26 Results. Second quarter 2026 revenue was $732.1 million, up 15% y-o-y, and exceeding our $720 million projection. Adjusted EBITDA was up 20% to $142 million, or a 19.4% margin, and above our $129.3 million estimate. GEO reported 2Q26 net income attributable to GEO Operations of $47.5 million, or $0.36/sh, and $29.1 million, or $0.21/sh, in 2Q25. Adjusted EPS was $0.37/sh, compared to $0.22/sh in 2Q25. We were at $0.28/sh for both.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
