The GEO Group (GEO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and The GEO Group published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. The GEO Group reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted Net Income per Diluted Share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Segment revenue is from The GEO Group's 10-Q; the release reports only the consolidated total. Figures are converted from thousands.
• Q3 2025 GAAP results included a $232.4 million gain on the sale of the Lawton Correctional Facility to the State of Oklahoma and a $37.6 million contingent litigation reserve, which is most of the gap between the two quarters' GAAP EPS.
• The GEO Group's Q4 2026 GAAP net income guidance includes the gain on the October 2, 2026 sale of the Adelanto Complex to the federal government for $950 million.

Source: The GEO Group Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How The GEO Group splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• The GEO Group's U.S. Secure Services revenue was $542 million in Q3 2026, up 13% from $482 million in Q3 2025, 71% of total revenue.
• The GEO Group's Electronic Monitoring and Supervision Services revenue was $81.8 million in Q3 2026, up 2% from $80.5 million in Q3 2025, 11% of total revenue.
• The GEO Group's Reentry Services revenue was $74.3 million in Q3 2026, up 2% from $72.7 million in Q3 2025, 10% of total revenue.
• The GEO Group's International Services revenue was $62.9 million in Q3 2026, up 32% from $47.5 million in Q3 2025, 8% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, The GEO Group said:

“For the fourth quarter 2026, we increased our Net Income Attributable to GEO Operations guidance to a range of $591 million to $595.5 million, which includes the gain on sale of the Adelanto Complex.”

“We increased our fourth quarter 2026 Adjusted Net Income guidance to a range of $46 million to $51 million, or a range of $0.35 to $0.39 per diluted share, on quarterly revenues of $777 million to $827 million.”

“We increased full year 2026 Adjusted Net Income guidance to a range of $185 million to $190 million, or a range of $1.40 to $1.44 per diluted share, on annual revenues of $2.975 billion to $3.025 billion and based on an effective tax rate of approximately 28 percent, inclusive of known discrete items.”

“We increased our full year 2026 Adjusted EBITDA guidance to a range of $568 million to $573 million.”

Source: The GEO Group Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the GEO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Q3 2025 EPS includes the gain on the Lawton Correctional Facility sale.

We do not hold a confirmed date for The GEO Group's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

The GEO Group's U.S. Secure Services segment produced $542.1 million of its $761.1 million in Q3 2026 revenue, 71.2% of the total, and grew 12.5% from a year earlier. Electronic Monitoring and Supervision Services brought in $81.8 million, Reentry Services $74.3 million and International Services $62.9 million. (The GEO Group Q3 2026 release, Nov 5, 2026; The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

GEO said U.S. Secure Services revenue rose by $60.4 million. New contracts at its company-owned Delaney Hall, North Lake and D. Ray James facilities, its managed-only contract at the North Florida Detention Center and new transportation contracts added $26.4 million. Higher occupancies, transportation, rates and per diem amounts under contract modifications added $37.2 million, and contract terminations took away about $3.2 million. Average occupancy in those facilities, excluding idle ones, was about 94% of capacity, against 90% a year earlier. (The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

International Services revenue rose by $15.4 million, or 32.3%, on new health care contracts and higher populations at GEO's Australian subsidiary, partly offset by $5.0 million of foreign exchange. Electronic Monitoring and Supervision Services rose by $1.3 million: a new skip tracing contract added $3.1 million while average participant counts in the Intensive Supervision and Appearance Program (ISAP) fell. Reentry Services rose by $1.6 million on higher census levels and new day reporting center contracts. (The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

GEO's revenue comes from a small number of government agencies. In 2025, ICE accounted for 47.6% of its consolidated revenues, the U.S. Marshals Service for 15.9% and the BOP for 2.6%, so those three federal agencies together made up 66.6%. GEO said no individual contract accounted for more than 10.0% of 2025 revenues. (The GEO Group Form 10-K, 2025, Feb 25, 2026)

GEO started three ICE contracts during and after the quarter: the 1,188-bed Big Horn Facility in Hudson, Colorado (about $85 million of annual revenues expected in the first full year), its own 1,320-bed Rivers Facility in Winton, North Carolina (about $80 million), and support services at the 2,329-bed Big Spring Complex in Texas (about $200 million). On October 2, 2026 it sold the Adelanto Complex to the federal government for $950 million gross and keeps running it under its ICE contract through December 19, 2034. (The GEO Group Q3 2026 release, Nov 5, 2026)

The GEO Group's GAAP diluted EPS fell to $0.37 in Q3 2026 from $1.24 because the year-ago quarter included a $232.4 million gain on asset divestitures, mostly from selling the 2,388-bed Lawton Correctional Facility to the State of Oklahoma. Q3 2025 also carried a $37.6 million contingent litigation reserve tied to the Washington minimum wage case and a $7.9 million loss on extinguishment of debt. (The GEO Group Q3 2026 release, Nov 5, 2026; The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

GEO's Adjusted Net Income per Diluted Share rose to $0.39 from $0.25, and adjusted net income rose 48% to $51.8 million. GEO excludes gains and losses on asset divestitures, debt extinguishment losses, contingent liability and litigation costs, start-up expenses, transaction fees, employee restructuring and close-out expenses, net of tax. Those items came to $3.5 million pre-tax in Q3 2026. The effective tax rate was 27.0%, against 24.6% a year earlier. (The GEO Group Q3 2026 release, Nov 5, 2026; The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted weighted average shares fell to 132.0 million from 140.0 million. GEO repurchased 5,158,349 shares in the first nine months of 2026, and as of November 5, 2026 it had bought back about 10.1 million shares for about $177 million under its $1.25 billion authorization, leaving about 132 million shares outstanding. (The GEO Group Q3 2026 release, Nov 5, 2026; The GEO Group Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

The GEO Group gives quarterly and full-year guidance in its release. For Q4 2026 it guided revenues of $777 million to $827 million and Adjusted Net Income of $0.35 to $0.39 per diluted share. For full year 2026 it guided revenues of $2.975 billion to $3.025 billion, Adjusted Net Income of $1.40 to $1.44 per diluted share and Adjusted EBITDA of $568 million to $573 million. (The GEO Group Q3 2026 release, Nov 5, 2026)

GEO's full-year GAAP guidance, net income of $726.3 million to $730.5 million or $5.49 to $5.53 per diluted share, includes a $765.2 million pre-tax gain on the Adelanto sale. GEO expects capital expenditures of $140 million to $150 million for 2026 and says the outlook does not include any potential one-time legal settlements. (The GEO Group Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover The GEO Group, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones The GEO Group's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning GEO is on is GEO a buy or a sell?, what analysts expect next is on the GEO forecast, and what the company does is on the The GEO Group (GEO) stock page.

Every number on this page can be traced to a document The GEO Group published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.