GEO : 1Q25 Supplemental Disclosure

Published: 2025-05-07 06:17:22 ET GEO

Published on 05/07/2025 at 06:17

‌Supplemental Information

First Quarter 2025

The GEO Group, Inc.'s ("GEO") Unaudited Reconciliation Tables and Supplemental Disclosure presented herein speaks only as of the date or period indicated, and GEO does not undertake any obligation, and disclaims any duty, to update any of this information, except as required by law. GEO's future financial performance is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect GEO's future financial results are discussed more fully in our reports on Form 10-K, Form 10-Q, and Form 8-K filed with the Securities and Exchange Commission ("SEC"). Readers are advised to refer to these reports for additional information concerning GEO.

The results presented herein are shown as of March 31, 2025.

‌Company Profile 3

Condensed Consolidated Balance Sheets 4

Condensed Consolidated Statement of Operations 5

Reconciliation of Net Income to EBITDA and Adjusted EBITDA, and Reconciliation of Net Income Attributable to GEO to

Adjusted Net Income 6

Reconciliation of Net Income Attributable to GEO to Net Operating Income (NOI) 7

Financial Summary - 1 8

Financial Summary - 2 9

Global Operations Profile 10

Portfolio Operating Metrics 11

Customer Data 12

Capital Expenditures 13

Debt Maturity Schedule 14

Outstanding Debt 15

Acquisitions/Dispositions 16

Idle Facilities 17

Property List 18-22

Definitions 23

‌The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 18,000 employees.

REVENUE DISTRIBUTION YTD 2025

NET OPERATING INCOME (NOI) DISTRIBUTION YTD 2025

18%

30%

25%

57%

55%

15%

OWNED AND LEASED

MANAGED ONLY

NON RESIDENTIAL AND OTHER

TOTAL REVENUE

DOMESTIC

INTERNATIONAL

$700

$600

$500

$400

$300

571

577

563

548

551

557

556

551

552

554

$200

$100

$0 -

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

1Q25

GEO's mission is to develop innovative public-private partnerships with government agencies around the globe that deliver high quality, cost-efficient solutions while providing enhanced rehabilitation and community reintegration programs to the men and women entrusted to GEO's care.

Millions

* In '000's except per share data.

** GEO Corporate Structure is shown as of March 31, 2025.

2025 Guidance Summary * Low-End Mid-Point High-End

Revenue

$ 2,500,000

$ 2,525,000

$ 2,550,000

Net Income Attributable to GEO

$ 108,000

$ 116,500

$ 125,000

Adjusted EBITDA

$ 465,000

$ 477,500

$ 490,000

Growth $30,000 to $35,000 Technology $40,000 to $45,000

Facility Maintenance $50,000 to $55,000

Capital Expenditures $120,000 to $135,000

Company Profile

‌March 31, 2025

As of

December 31, 2024

As of

(unaudited) (unaudited)

ASSETS

Cash and cash equivalents

$ 64,822

$ 76,896

Restricted cash and cash equivalents

3,657

2,785

Accounts receivable, less allowance for doubtful accounts

384,227

376,013

Prepaid expenses and other current assets

50,660

44,485

Total current assets

$ 503,366

$ 500,179

Restricted Cash and Investments

148,772

145,366

Property and Equipment, Net

1,900,525

1,899,690

Operating Lease Right-of-Use Assets, Net

90,476

95,327

Deferred Income Tax Assets

9,522

Intangible Assets, Net (including goodwill)

880,269

882,577

Other Non-Current Assets

99,535

99,419

Total Assets

$ 3,632,465

$ 3,632,080

LIABILITIES AND SHAREHOLDERS' EQUITY

Accounts payable

$ 65,047

$ 67,464

Accrued payroll and related taxes

85,731

68,044

Accrued expenses and other current liabilities

188,000

177,768

Operating lease liabilities, current portion

24,374

25,335

Current portion of finance lease obligations, and long-term debt

25,622

1,612

Total current liabilities

$ 388,774

$ 340,223

Deferred Income Tax Liabilities

78,198

Other Non-Current Liabilities

96,330

95,410

Operating Lease Liabilities

69,522

73,638

Long-Term Debt

1,658,093

1,711,197

Total Shareholders' Equity

1,341,548

1,333,414

Total Liabilities and Shareholders' Equity

$ 3,632,465

$ 3,632,080

* All figures in '000s

Condensed Consolidated Balance Sheets *

‌Q1 2025

Q1 2024

(unaudited)

Revenues

$ 604,647

$ 605,672

Operating expenses

453,778

441,675

Depreciation and amortization

32,136

31,365

General and administrative expenses

57,749

53,070

Operating income

60,984

79,562

Interest income

1,997

2,474

Interest expense

(42,441)

(51,295)

Loss on extinguishment of debt

(39)

Income before income taxes and equity in earnings of affiliates

20,540

30,702

Provision for income taxes

1,826

8,071

Equity in earnings of affiliates, net of income tax provision

828

Net income

19,542

22,659

Less: Net loss attributable to noncontrolling interests

Net income attributable to The GEO Group, Inc.

$ 19,558

$ 22,668

Weighted Average Common Shares Outstanding:

Basic

137,143

122,497

Diluted

140,915

130,987

Net income per Common Share Attributable to The GEO Group, Inc.** : Basic:

Net income per share - basic

0.14

0.15

Diluted:

Net income per share - diluted

0.14

* All figures in '000s, except per share data

** In accordance with U.S. GAAP, diluted earnings per share attributable to GEO available to common stockholders is calculated under the if-converted method or the two-class method, whichever calculation results in the lowest diluted earnings per share amount.

Condensed Consolidated Statement of Operations *

‌Q1 2025

Q1 2024

Net Income

(unaudited)

$ 19,542

(unaudited)

$ 22,659

Add:

Income tax provision **

2,056

8,199

Interest expense, net of interest income ***

40,444

48,860

Depreciation and amortization

32,136

31,365

EBITDA

$ 94,178

$ 111,083

Reconciliation of Net Income to EBITDA and Adjusted EBITDA, and Reconciliation of Net Income Attributable to GEO to Adjusted Net Income *

Add (Subtract):

Net loss attributable to noncontrolling interests

Stock based compensation expenses, pre-tax

6,488

5,656

Start-up expenses, pre-tax

492

Transaction fees,pre-tax

ATM equity program expenses, pre tax

264

Close-out expenses, pre-tax

488

Other non-cash revenue & expenses, pre-tax

(972)

(349)

Adjusted EBITDA

$ 99,765

$ 117,643

Net Income attributable to GEO

$ 19,558

$ 22,668

Add (Subtract):

Loss on extinguishment of debt, pre-tax

Start-up expenses, pre-tax

492

Transaction fees,pre-tax

ATM equity program expenses, pre tax

264

Close-out expenses, pre-tax

488

Tax effect of adjustment to net income attributable to GEO (1)

(14)

(323)

140,915

130,987

Adjusted Net Income $ 19,599 $ 23,628

Adjusted Net Income per Diluted share 0.14 0.18

Weighted average common shares outstanding - Diluted

* All figures in '000s.

** Includes income tax provision on equity in earnings of affiliates.

*** Includes loss on extinguishment of debt.

(1) Tax adjustment related to loss on extinguishment of debt, start-up expenses, transaction fees, ATM equity program expenses, and close-out expenses.

‌Q1 2025

Q1 2024

Reconciliation of Net Income Attributable to GEO to Net Operating Income (NOI) *

(unaudited) (unaudited)

Less

Net loss attributable to noncontrolling interests 16 9

Add (Subtract):

Equity in earnings of affiliates, net of income tax provision

(828)

(28)

Income tax provision

1,826

8,071

Interest expense, net of interest income

40,444

48,821

Loss on extinguishment of debt

Depreciation and amortization

32,136

31,365

General and administrative expenses

57,749

53,070

Net Operating Income, net of operating lease obligations

$ 150,869

$ 163,997

Add:

Operating lease expense, real estate

4,709

4,571

Start-up expenses, pre-tax

492

Net Operating Income (NOI)

$ 155,578

$ 169,060

* All figures in '000s.

Q1 2025

Q1 2024

(unaudited) (unaudited)

Market Capitalization ** $ 4,124,610 $ 1,785,598

Share Price ** $ 29.21 $ 14.12

Revenues *

Owned and Leased: Secure Services $ 305,623 $ 297,211

Owned and Leased: Reentry Services 39,751 39,225

Managed Only 149,468 152,277

Electronic Monitoring and Supervision Services 77,713 86,784

73,963

12,642

23,111

35,852

10,010

80,344

10,799

24,046

44,696

9,175

9,414

9,976

9,630

1,140

6,729

6,468

14,337

29,020

Adjusted EBITDA * $ 99,765 $ 117,643

Net income attributable to The GEO Group, Inc. * $ 19,558 $ 22,668

169,060

155,578

605,672

604,647

Non-Residential Services & Other 32,092 30,175

Net Operating Income (NOI) * ***

Owned and Leased: Secure Services $ Owned and Leased: Reentry Services

Managed Only

Electronic Monitoring and Supervision Services Non-Residential Services & Other

Capital Expenditures * **

Growth $

Technology

Facility Maintenance

* Figures in '000s, except per share data

** As of quarter-end

*** Prior period includes certain reclassifications to conform with the current period presentation

Financial Summary

‌Q1 2024

Q1 2025

Portfolio *

Owned and Leased: Secure Services

Owned and Leased: Reentry Services

Managed Only & Other

Owned and Leased: Secure Services **

Revenue Producing Beds

35,455

35,749

Occupancy

85%

84%

Compensated Mandays

2,698,173

2,743,361

Square Feet

6,900,341

6,158,949

Idle Facilities: Design Capacity - Beds

6,564

10,632

Square Feet

1,255,215

1,872,084

Owned and Leased: Reentry Services **

Revenue Producing Beds

5,497

5,577

Occupancy (1)

84%

75%

Compensated Mandays

414,330

381,871

Square Feet

862,102

922,347

Available beds at active facilities

320

Idle Facilities: Design Capacity - Beds

889

789

Square Feet

177,923

147,968

Managed Only **

Revenue Producing Beds

21,919

23,455

Occupancy

96%

Compensated Mandays

1,889,582

2,040,309

Square Feet

6,351,338

6,900,731

U.S.

3,482,935

3,800,905

International

2,868,403

3,099,826

Non-Residential Units ***

Day Reporting Centers (2)

632,301

701,260

Electronic Monitoring and Supervision Services (3)

33,107,254

33,301,711

* Excludes idle facilities.

** Revenue producing beds, occupancy and compensated mandays exclude Great Plains Correctional Facility, Guadalupe County Correctional Facility,

Logan Hall, Toler Hall, and Youth facilities for which GEO has a management consulting agreement, idle facilities, and projects under activation/construction.

*** Non-Residential Units presented in the table are calculated based on number of days within the period multiplied by number of units. Excludes In-Prison treatment participants.

Occupancy has increased due to a decrease in capacity primarily due to Delaney Hall being reclassified as a Secured Services facility.

Reentry Services Non-Residential Units include home confinement populations and day reporting center participants.

Electronic Monitoring and Supervision Services Non-Residential Units include electronic monitoring services and Intensive Supervision and Appearance Program ("ISAP") participants.

Financial Summary

‌Global Operating Portfolio by

Region *

United States

Facilities

Current Beds

Beds 1-Yr Ago

Texas

17,875

19,031

California

6,623

Arizona

5,930

Florida

5,751

Georgia

5,254

5,286

Oklahoma

4,328

4,622

Indiana

4,262

Louisiana

3,654

Pennsylvania

3,350

Colorado

2,810

2,860

New Jersey

2,162

2,362

New Mexico

1,984

Michigan

1,800

Washington

1,575

North Carolina

1,320

1,450

Alabama

722

Alaska

705

Wyoming

342

New York

172

Illinois

170

Kansas

136

Nevada

124

Utah

115

Ohio

100

South Dakota

United States Total:

71,332

73,194

International

Facilities

Current Beds

Beds 1-Yr Ago

Australia

2,222

3,501

South Africa

3,024

International Total:

5,246

6,525

Global:

76,578

79,719

Global Operating Portfolio by Facility Ownership **

Company Owned

52,137

53,999

Company Leased

2,990

Managed - Only

21,451

22,730

Total

76,578

79,719

* Data includes all active faclities and idle beds.

** Bed and Facility counts are show n as of March 31, 2025.

Global Operations Profile

‌# of Facilities (1)

Eastern Region (FL,GA,IN,VA)

Central Region (OK)

Western Region (AZ, NM)

Reentry Services

United States (Ex-Federal) Total:

Eastern Region (FL,GA,LA,MI,NC)

Central Region (TX)

Western Region (CA,CO,WA)

Reentry Services

United States (Federal) Total:

Australia

South Africa

International Total:

Electronic Monitoring and Supervision Services Reentry Services

Non Residential Total:

N/A

Owned, Non-Managed & Mgmt Fee only (2)

Idle Facilities

Other Total (3):

Global Total:

Sq. Ft.

2,368,940

556,207

1,584,651

666,617

5,176,415

1,872,634

2,310,358

1,643,004

242,967

6,068,963

2,222,569

645,834

2,868,403

N/A

1,211,381

1,433,138

2,644,519

16,758,300

BEDS (1)

Owned & Leased

Managed Only

Total

1,500

9,195

10,695

2,388

1,200

5,930

7,130

3,913

184

4,097

9,001

15,309

24,310

10,916

13,884

384

14,268

8,367

512

8,879

1,584

34,751

896

35,647

2,222

3,024

5,246

N/A N/A N/A

3,922

7,453

11,375

55,127

21,451

76,578

Q1 2025

Revenue*

Compensated Mandays

Occupancy

$49,248

924,419

96%

$11,596

212,847

99%

$39,200

605,323

94%

$25,620

318,540

86%

$125,664

2,061,129

94%

$73,969

662,850

91%

$120,236

1,111,013

87%

$108,321

540,483

68%

$15,789

112,350

79%

$318,315

2,426,696

82%

$46,120

242,100

100%

$4,723

272,160

100%

$50,843

514,260

100%

$77,713

$28,356

33,107,254

632,301

$106,069

N/A

$3,756

$604,647

5,002,085

(4)

88%

* Revenue presented in '000s

Design Capacity Beds and Facility counts are shown as of March 31, 2025.

Includes Great Plains Correctional Facility (1,940 beds), Guadalupe County Correctional Facility (600 beds), Logan Hall (442 beds), Toler Hall (113 beds), and other Leased, Not-Managed Facilities (824 beds).

Other Total Revenue includes Great Plains Correctional Facility, Guadalupe County Correctional Facility, Logan Hall & Toler Hall, facilities under activation, idle facilities, and other revenue.

Total Compensated Mandays excludes Non-Residential Units.

Portfolio Operating Metrics *

‌Customer Retention Data

Total

YTD 2025

2024

2023

2022

2021

# of Contracts up for Renewal/Rebid

208

Contract Retention Rate: Owned & Leased

93.5%

100.0%

97.7%

97.8%

93.3%

84.8%

Contract Retention Rate: Managed Only

70.8%

0.0%

66.7%

100.0%

60.0%

75.0%

Retention Rate

90.9%

83.3%

95.7%

97.9%

90.0%

82.8%

Owned & Leased (YTD 2025) **

85.0

98%

96%

80.0

94%

92%

75.0

90%

88%

70.0

68.5

67.6

66.3

86%

66.3

86.0%

66.3

86.1%

64.8

65.0

85.4%

85.2%

64.8

84%

84.7%

82%

60.0

80%

Other

26%

USMS

International BOP

Local

43%

State

16%

GEO REVENUE BY CUSTOMER TYPE YTD 2025

ICE

3% 3%

87.2%

87.3%

87.6%

87.2%

62.9

65.5

65.6

86.5%

88.4%

87.9%

Revenue Producing Beds ( in '000)

Occupancy %

% of Beds *

% of Revenue

% of Beds *

% of Revenue

Managed Only (YTD 2025) **

Top Customers Top Customers

1 U.S. Immigration & Customs Enforcement

32.9%

32.3%

Australia

4.3%

7.6%

2 United States Marshals Service

15.1%

13.7%

State of Arizona

9.4%

5.4%

3 Federal Bureau of Prisons

2.8%

State of Florida

7.8%

4.8%

4 State of Oklahoma

3.8%

2.3%

State of Indiana

6.8%

2.1%

5 State of Georgia

2.4%

1.3%

United States Marshals Service

1.4%

2.0%

6 State of New Mexico

1.9%

1.1%

South Africa

4.8%

0.8%

7 State of Alaska

1.0%

0.8%

State of New Mexico

0.3%

8 State of New Jersey

1.0%

0.6%

State of Pennsylvania

0.0%

9 State of Texas

1.1%

0.5%

10 Various Others

3.2%

2.4%

* Ref lect only revenue producing beds

** Top customers do not ref lect non-residential revenue

Customer Data

‌Q1 2025

Q4 2024

Owned & Leased

BI **

Managed Only & Other

Total

Owned & Leased

BI **

Managed Only & Other

Total

Secure Services

Reentry

Services

Secure

Services

Reentry

Services

Cap-Ex Category

Growth

9,414

1,281

Technology

9,976

6,748

Facility Maintenance

7,475

977

1,178

9,630

9,019

1,670

1,221

11,910

$ 16,889

$ 977

$ 9,976

$ 1,178

$ 29,020

$ 10,300 $

1,670

$ 6,748

$ 1,221

$ 19,939

Total Capital Expenditures ***

Capital Expenditures ***

$20,000

Growth

Technology

Facility Maintenance

$18,000

$16,000

$14,000

$12,000

$10,000

$8,000

$6,000

$4,000

$2,000

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

2Q24

3Q24

4Q24

1Q25

* Amounts in '000s

** Electronic and Location Monitoring

*** Excludes reimbursed Capital Expenditures. Facility improvements are included with growth, and BI maintenance and monitoring equipment & technology are included with Technology.

Capital Expenditures *

‌2025

2026

2027

2028

2029

2030

2031

2032

2033

Thereafter

Total

Floating Rate Debt

$ -

- $ - $ -

$ 80,000

- $

- $ 80,000

23,956

- - 18,742

278,125

- 320,823

$ 23,956

- $ - $ 18,742

$ 358,125

- $

- $ 400,823

Revolver Borrowings due 2029 New Term Loan due 2029

Total Floating Debt

Fixed Rate Debt

8.625% Senior Secured Notes due 2029

650,000

10.25% Senior Unsecured. Notes due 2031

625,000

Finance Leases

349

379

Other Debt(1)

961

1,325

1,383

1,439

1,499

1,576

1,644

1,709

1,787

24,898

38,221

Total Fixed Debt

$ 1,310

$ 1,355

$ 1,383

$ 1,439

$ 651,499

$ 1,576

$ 626,644

$ 1,709

$ 1,787

$ 24,898

$ 1,313,600

Total Debt Payments

$ 25,266

$ 1,355

$ 1,383

$ 20,181

$ 1,009,624

$ 1,576

$ 626,644

$ 1,709

$ 1,787

$ 24,898

$ 1,714,423

Weighted Avg. Interest Rates, pre-tax

Floating 9.39%

Fixed 9.40%

$1,200

$1,100

$1,000

$900

$800

$1,010

$700 $627

$600

$500

$400

$300

$200

$100

$25

$20

$25

2025 2026 2027 2028 2029 2030 2031 2032 2033 and thereafter

Fixed Rate Debt 77%

Floating Rate Debt 23%

($ in millions)

Total 9.39%

(1) Bears interest at SOFR + 205 bps. Company has entered into interest rate swap agreements to fix the interest rate to 4.22%

* These amounts are in '000-s and represent future maturities as of 12/31 of each year

Total Debt Payments

Debt Maturity Schedule *

‌Senior Notes

Due

2029

2031

Closing Date

4/18/24

Denomination

USD

Security

Secured

Unsecured

Original Principal Amount

$650,000

$625,000

Outstanding Principal Amount (end of quarter)

$650,000

$625,000

Stated Coupon

8.625%

10.250%

Maturity Date

4/15/29

4/15/31

Date Callable

4/15/26

4/15/27

Call Price

104.313

105.125

Revolving Credit Facility due 2029

Credit Metrics (5)

Capacity $310,000

Metric

March 31, 2025

Outstanding $80,000

Letters of Credit(1) $59,641

Total Net Leverage

Total Senior Secured Leverage

3.80x

2.36x

Remaining Capacity $170,359

Net Interest Coverage Ratio

2.57x

Current Interest Rate Spread 3.000%

Interest Rate (2)SOFR + Spread

Maturity Date (3)4/15/29

Term Loan due 2029

Original Principal

$450,000

Outstanding Principal

$320,823

Current Interest Rate Spread

5.250%

Interest Rate (2)

SOFR + Spread

Maturity Date (4)

4/15/29

Excludes approximately AUD $66M, or $42M, based on exchange rates at March 31, 2025, of letters of credit issued under a bank guarantee facility in connection with certain performance guarantees

SOFR floor of 0.75%

Subject to springing maturity on January 14, 2029 if the outstanding Sr. Secured Notes due 2029 are greater than $100M; also subject to springing maturity on January 14, 2029 if the outstanding Term Loan due 2029 is greater than $100M

Subject to springing maturity on January 14, 2029 if the outstanding Sr. Secured Notes due 2029 are greater than $100M

Based on Adj. EBITDA as reported

Amounts in '000's

Amounts as of March 31, 2025

Outstanding Debt *

‌Acquisitions

Tampa Residential Reentry Center

Bed Count

State

Purchase Price

Acquisition Date

118

$1,200

March 2021

Correct Care Australasia

N/A

Australia

$3,910

March 2024

Total $5,110

Dispositions

Talbot Hall

Bed Count

State

Sale Price **

Sale Date

536

$13,922

January 2021

McCabe Center

113

$2,550

March 2021

Williams Street Center

$1,400

May 2021

Youth Services ***

824

Various

$10,000

July 2021

Queens Detention Facility

222

$18,000

August 2021

Dupage Interventions

$2,200

September 2021

Crossroads Reception Center

300

$3,100

October 2021

Perry County Correctional Center

690

$15,000

April 2022

Ravenhall Equity Investment

N/A

Australia

$84,000

August 2022

Correctional Alternative Placement Services

240

Colorado

$325

August 2023

Albert "Bo" Robinson Assessment & Treatment

900

New Jersey

$15,185

September 2023

Other Asset and Land Sales

$8,217

Total $173,899

Represents acquisitions/dispositions of real estate assets, amounts in '000s.

** GEO received net proceeds of $13.2 million for the sale of its interest in Talbot Hall, $2.4 million for the sale of McCabe Center,

$1.3 million for the sale of Williams Street Center, $8 million for the sale of Youth Services, $16.5 million for the sale of Queens Detention Facility, $2.1 million for the sale of Dupage Interventions, $2.6 million for the sale of Crossroads Reception Center,

$14.9 million for the sale of Perry County Correctional Center, and $84 million for the Ravenhall equity investment sale,

$15.1 million for the sale of Albert "Bo" Robinson and $325K for the sale of Correctional Alternative Placement Services.

*** GEO divested its Youth Services business effective July 1, 2021 for $10 million net of working capital adjustment.

Acquisitions/Dispositions *

‌Idle Facilities (As of 3/31/2025)

Secure Services Facilities **

Location

Ownership

Bed Count

Net Book Value *

D. Ray James Correctional Facility

Georgia

Owned

1,868

47,856

Flightline Correctional Facility

Texas

Owned

1,452

31,605

Rivers Correctional Facility

North Carolina

Owned

1,320

34,461

Big Spring Correctional Facility

Texas

Owned

924

27,140

Cheyenne Mountain Reentry Center

Colorado

Owned

700

16,714

McFarland Facility

California

Owned

300

9,888

Secure Services Subtotal

6,564

$ 157,776

Non-Secure Reentry Facilities

Location

Ownership

Bed Count

Net Book Value *

Philadelphia Residential

Pennsylvania

Owned

400

6,367

Coleman Hall

Pennsylvania

Owned

350

5,806

Hector Garza Center

Texas

Owned

139

4,133

Non-Secure Reentry Subtotal

889

$ 16,306

United States Total

7,453

$ 183,970

* Dollar amounts in '000s.

** Idle bed counts reconfigured for detention use.

Idle Facilities

‌Updated as of May 6, 2025

Facility Name

City

State

Years Built/ Renovated

Years Contracted

Primary Customer(s)

Capacity

Ownership Type

Term(s)

Renewal Option(s)

Upcoming Renewal Date

OWNED AND LEASED PROPERTIES

GEO SECURE SERVICES

1 Adelanto ICE Processing Center Adelanto California 1990, 1991, 2011, 2012, 2015 December-19 ICE 1,940 Owned 5 years Two, five-year December-29

2 Central Valley Annex McFarland California 1997, 2009/2010 December-19/October-23 ICE/USMS 700 Owned 5 years/1 month

Two, five-year/one, year option plus one, six-month extension, plus one, three-month extension

December-29/July-25

3 Desert View Annex Adelanto California 1997, 2010, 2013 December-19 ICE 750 Owned 5 years Two, five-year December-29

4 Golden State Annex McFarland California 1997, 2010 December-19 ICE 700 Owned 5 years Two, five-year December-29

5 McFarland Community Reentry Facility McFarland California 1988, 2011, 2014 None Idle 300 Owned None None None

6 Mesa Verde ICE Processing Center Bakersfield California 1989, 2011,2015 December-19 ICE 400 Owned 5 years Two, five-year December-29

One, two-year , plus six-month extension, plus three-month

7 Western Region Detention Facility San Diego California 1959-1961, 2000 November-17 USMS 770 Leased 1 year, 10 months

extension, plus one fifteen-month option, plus one twenty-five month option, plus one twenty-three month option

September-25

8 Aurora ICE Processing Center Aurora Colorado 1987, 1993, 1998, 2009, 2010, 2011, 2017 October-21 ICE 1,532 Owned 1 year Four, one-year October-25

9 Broward Transitional Center Deerfield Beach Florida 1998, 2004, 2010, 2011, 2013, 2014 September-21 ICE 700 Owned 1 year Four, one-year August-25

10 Cheyenne Mountain Reentry Center Colorado Springs Colorado 2005 None Idle 700 Owned None None None

11 D. Ray James Facility Folkston Georgia 1998/1999, 2008/2009, 2011/2012 None Idle 1,868 Owned None None None

12 Delaney Hall Newark New Jersey 1999/2000, 2008 May-25 ICE 1,000 Owned 15 years None April - 40

13 Folkston ICE Processing Center Folkston Georgia 2005, 2008, 2013, 2017 December-16 ICE - IGA 1,118 Owned 1 year

Four, one-year, plus one, two-month extension, plus one, five year renewal

February -27

14 Riverbend Correctional and Rehabilitation Facility Milledgeville Georgia 2011 July-10 GA DOC 1,500 Owned 1 year Forty, one-year June-25

15 Robert A. Deyton Detention Facility Lovejoy Georgia 1984-1986, 2008/2009 February-08 USMS 768 Leased 5 years Three, five-year February-28

16 Alexandria Staging Facility * Alexandria Louisiana 2014 November-13 ICE - IGA 400 Owned Perpetual None Perpetual

17 Pine Prairie ICE Processing Center Pine Prairie Louisiana 1999, 2008, 2018 June-15 ICE - IGA 1,094 Owned 5 years One-month extension plus fifty

nine month extension

June-25

18 Central Louisiana ICE Processing Center Jena Louisiana 1998, 2008, 2010/2011, 2017 November-13 ICE - IGA 1,160 Owned Perpetual None Perpetual

19 South Louisiana ICE Processing Center Basile Louisiana 1993, 1994,1996, 1998, 1999, 2000, 2001,

2010, 2011, 2017

June-15 ICE - IGA 1,000 Owned 5 years One-month extension plus fifty

nine month extension

June-25

20 North Lake Correctional Facility Baldwin Michigan 1998/1999, 2002, 2011 TBD ICE 1,800 Owned TBD None TBD

21 Lea County Correctional Facility Hobbs New Mexico 1997/1998, 2017 January-99 NMCD - IGA 1,200 Owned Perpetual None Perpetual

22 Rivers Facility Winton North Carolina 2000/2001, 2017 None Idle 1,320 Owned None None None

23 Lawton Correctional and Rehabilitation Facility Lawton Oklahoma 1998,1999, 2005, 2006, 2015 July-24 OK DOC 2,388 Owned 1 year None June-25

24 Moshannon Valley Processing Center Phillipsburg Pennsylvania 2005, 2006, 2013, 2021 September-21 ICE IGA 1,876 Owned 5 year None September - 26

25 Brooks County Detention Center Falfurrias Texas 2001, 2011 March-13 USMS IGA 652 Owned Perpetual None Perpetual

26 Coastal Bend Detention Center Robstown Texas 2008, 2009 July-12 USMS/Hidalgo County 1,176 Owned Perpetual None Perpetual

27 East Hidalgo Detention Center LaVilla Texas 2001, 2002, 2004, 2005, 2007, 2011 July-12 USMS IGA 1,346 Owned Perpetual None Perpetual

28 Big Spring Cedar Hill Facility Big Spring Texas 1940, 1960, 1982, 1991, 1994, 1996,

2001, 2009, 2010, 2011, 2012, 2018

29 Flightline Facility Big Spring Texas 1940, 1960, 1982, 1991, 1994, 1996,

2001, 2009, 2010, 2011, 2012, 2018

None Idle 924 Owned None None None

None Idle 1,452 Owned None None None

30 Joe Corley Processing Center Conroe Texas 2008, 2017, 2018, 2020 July-08 / September-18 USMS / ICE 1,517 Owned Perpetual / 5 years

None /Five-year, plus one, four and one half month extension, plus one, six month extension, plus two, two month extensions, plus one, four month extension, plus one, three month extension.

Perpetual/June-25

31 Karnes County Detention Facility Karnes City Texas 1995 February-98 USMS - IGA 679 Owned Perpetual None Perpetual

32 Karnes County Immigration Processing Center Karnes City Texas 2011, 2012, 2014, 2015 September-24 ICE - IGA 1,328 Owned 5 years None August-29

33 Montgomery Processing Center Conroe Texas 2018 October-18 ICE 1,314 Owned 10 months Nine, one-year August-25

34 Eagle Pass Detention Facility Eagle Pass Texas 2008, 2018 October-20 USMS - IGA 661 Owned Perpetual None Perpetual

35 Rio Grande Processing Center Laredo Texas 2007, 2008 October-08 USMS 1,900 Owned 5 years Three, five-year September-28

36 South Texas ICE Processing Center Pearsall Texas 2004, 2005, 2012 August-20 ICE 1,904 Owned 1 year Nine, one-year August-25

37 Val Verde County Detention Facility Del Rio Texas 2000, 2001, 2005, 2007 January-01 USMS - IGA 1,407 Owned Perpetual None Perpetual

38 Northwest ICE Processing Center Tacoma Washington 2003, 2004, 2009, 2010, 2012 September-15 ICE 1,575 Owned 1 year Four, one-year plus five-year

extension

September-25

* Alexandria Staging Facility was activated pursuant to an amendment under the Central Louisiana ICE Processing Center contract.

Property List

‌Updated as of May 6, 2025

Facility Name

City

State

Years Built/ Renovated

Years Contracted

Primary Customer(s)

Design Capacity

Ownership Type

Term(s)

Renewal Option(s)

Upcoming Renewal Date

OWNED AND LEASED PROPERTIES

GEO CARE - REENTRY SERVICES

1 Alabama Therapeutic Education Facility

Columbiana

Alabama

1962

December-21

AL DOC

722

Owned

2 year

Three, one-year

November-25

2 Cordova Center

Anchorage

Alaska

1974-1979, 2001, 2013

July-19/November-24

BOP / AK DOC

296

Owned

1 year /8 months

Nine, one-year/Four, one-year

June-25/June-25

3 Midtown Center

Anchorage

Alaska

Early 1950s, 1972, 1998

November-24

AK DOC

Owned

8 months

Four, one-year

June-25

4 Northstar Center

Fairbanks

Alaska

1970, 1975, 1995

July-22

AK DOC

120

Leased

1 year

Three, one-year

June-25

5 Parkview Center

Anchorage

Alaska

1971, 1976

November-24

AK DOC

112

Owned

8 months

Four, one-year

June-25

6 Seaside Center

Nome

Alaska

1999, 2016

February-25

AK DOC

Owned

5 months

Four, one-year

June-25

7 Tundra Center

Bethel

Alaska

1960/1970

February-25

AK DOC

Owned

5 months

Four, one-year

June-25

8 El Monte Center

El Monte

California

1960, 2004, 2012

October-19

BOP

Leased

1 year

Nine, one-year

September-25

9 Long Beach Community Reentry Center

Long Beach

California

1997

July-24

CDCR

112

Leased

9 years

None

June-33

10 Marvin Gardens Center

Los Angeles

California

1962, 1965, 1990, 2017

December-23

BOP

Leased

1 year

Four, one-year

November-25

11 Oakland Street Center

Oakland

California

1904, 1911, 2000s

February-20

BOP

Owned

1 year

Nine, one-year

January-26

12 Taylor Street Center

San Francisco

California

1907, 2010, 2011

April-21/ July-22

BOP / CDCR

240

Owned

1 year / 3 years

Four, one-year/Two, one-year

March-26/June-25

13 Arapahoe County Residential Center

Littleton

Colorado

2006

July-24

Arapahoe County

202

Owned

1 year

None

June-25

14 Community Alternatives of El Paso County

Colorado Springs

Colorado

1991, 1998, 2000

July-24

4th Judicial District

240

Owned

1 year

Four, one- year

June-25

15 Tampa Residential Reentry Center

Tampa

Florida

2020, 2021

September-21

BOP

118

Owned

1 year

Four, one- year

August-25

16 Grossman Center

Leavenworth

Kansas

1988, 2002/2003

July-19

BOP

136

Owned

1 year

Nine, one-year

June-25

17 The Harbor

Newark

New Jersey

1929, 1999, 2008

July-22

NJ DOC

260

Leased

2 years

One, one-year

June-25

Property List

‌Updated as of May 6, 2025

Facility Name

City

State

Years Built/ Renovated

Years Contracted

Primary Customer(s)

Design Capacity

Ownership Type

Term(s)

Renewal Option(s)

Upcoming Renewal Date

GEO CARE - REENTRY SERVICES

18 Tully House

Newark

New Jersey

1929, 1999

July-22

NJ DOC

344

Owned

2 years

One, one-year

June-25

19 New Mexico Men's Recovery Academy

Los Lunas

New Mexico

No Real Property

July-23

NM DOC

124

Managed

4 years

None

June-27

20 New Mexico Women's Recovery Academy

Alberquerque

New Mexico

No Real Property

July-23

NM DOC

Managed

4 years

None

June-27

21 Las Vegas CCC

Las Vegas

Nevada

1978, 2004

Feburary-21

BOP

124

Owned

1 year

Four, one-year

January-26

Bronx Community Re-entry Center

Bronx

New York

1966, 1998, 2009, 2012, 2015

July-20

BOP

172

Leased

1 year

Nine, one-year

June-25

23 ADAPPT

Reading

Pennsylvania

1909, 1919, 1929, 1986, 1989

May-24

PA DOC

Owned

4 years, 9 months

None

January-29

24 Chester County

Chester

Pennsylvania

1923

May-24

PA DOC

Owned

4 years, 9 months

None

January-29

25 Coleman Hall

Philadelphia

Pennsylvania

1919, 2001

None

Idle

350

Owned

None

26 Philadelphia Residential Reentry Center

Philadelphia

Pennsylvania

2008

None

Idle

400

Owned

None

27 Scranton Facility

Scranton

Pennsylvania

No Real Property

May-24

PA DOC

Owned

4 years, 9 months

None

January-29

28 Community Alternatives of The Black Hills

Rapid City

South Dakota

1989, 1998, 2007

October-21

BOP

Owned

1 year

Four, one-year

September-25

29 Beaumont Transitional Treatment Center

Beaumont

Texas

1940, 1950, 1967, 1975, 1986, 1997

September-20

TDCJ

180

Owned

2 years

Three, one-year

August-25

30 Leidel Comprehensive Sanction Center

Houston

Texas

1930, 1960, 2005, 2006, 2012

January-21

BOP

190

Owned

1 year

Four, one-year

December-25

Mid Valley House

Edinburg

Texas

1985, 2001, 2014

December-20

BOP

128

Owned

1 year

Nine, one-year

November-25

Reality House

Brownsville

Texas

1983, 2011

July-24

BOP

Owned

1 year

Five, one-year

June-25

33 Southeast Texas Transitional Center

Houston

Texas

1960, 1967, 1970, 1984, 1997, 1998,

2008, 2012, 2018

September-20

TDCJ

500

Owned

2 years

34 Salt Lake City Center

Salt Lake City

Utah

1970, 1977, 2004

June-19

BOP

115

Owned

1 year

35 Casper Reentry Center

Casper

Wyoming

1984, 1994, 2004/2005, 2007

January-22/July-24

BOP/WYDOC

342

Owned

1 year/1 year

Three, one-year August-25

Nine, one-year May-25

Four, one-year/Two, one-year options

December-25/June-25

GEO CARE - OTHER

1 Hector Garza Center

San Antonio

Texas

1986, 1987, 2006

N/A

Idle

139

Owned

N/A

2 Logan Hall

Newark

New Jersey

1929, 2004

N/A

Third Party Tenant

442

Leased

N/A

3 Toler Hall

Newark

New Jersey

1992, 2004

N/A

Third Party Tenant

116

Leased

N/A

Property List

‌Updated as of May 6, 2025

Facility Name

City

State

Years Built/ Renovated

Years Contracted

Primary Customer(s)

Design Capacity

Ownership Type

Term(s)

Renewal Option(s)

Upcoming Renewal Date

MANAGED-ONLY FACILITIES

GEO SECURE SERVICES

1 Florence West Correctional and Rehabilitation Facility

Florence

Arizona

1997

October-22

AZ DOC

750

Managed

5 years

One, five-year

October-27

2 Phoenix West Correctional and Rehabilitation Facility

Phoenix

Arizona

1979, 1984, 1995, 1996, 2002

July-22

AZ DOC

500

Managed

5 years

None

July-27

3 Central Arizona Correctional and Rehabilitation Facility

Florence

Arizona

2006

December-06

AZ DOC

1,280

Managed

10 years

Two, five-year

December-26

4 Kingman Correctional and Rehabilitation Facility

Kingman

Arizona

2004, 2010

February-08

AZ DOC

3,400

Managed

10 years

5 Blackwater River Correctional and Rehabilitation Facility

Milton

Florida

2010

October-10

FL DOC

2,000

Managed

3 years

6 Moore Haven Correctional and Rehabilitation Facility

Moore Haven

Florida

1995, 1999, 2007

July-21

FL DOC

985

Managed

3 years

7 South Bay Correctional and Rehabilitation Facility

South Bay

Florida

1996, 1997, 2001, 2004, 2005, 2007, 2012

July-09

FL DOC

1,948

Managed

3 years

8 New Castle Correctional Facility

New Castle

Indiana

2001, 2012

September-05

IN DOC

3,196

Managed

4 years

9 Heritage Trail Correctional Facility

Plainfield

Indiana

1890, 1900, 1921, 1961

March-11

IN DOC

1,066

Managed

4 years

10 El Centro Detention Facility

El Centro

California

1976

December-19

USMS

512

Managed

2 years

11 Kinney County Detention Center

Brackettville

Texas

2004

September-13

USMS-IGA

384

Managed

Perpetual

One, five-year plus one, two-year plus one, three year option

June-25

Unlimited, two-year October-25

Unlimited, two-year June-26

Four, two-year plus six-month

extension plus three, two-year extensions

Three, two-year extensions plus one, four-year and nine-month extension plus one, three-month extension, plus one, nine-month extension plus one, five-year extension with one, four-year option.

One, four-year extension, plus one, one-year extension plus four-months and two-days extension, plus one-year extension plus five-year extension

Three, two-year, plus nine-month extension

December-26

June-26

December-25

None Perpetual

INTERNATIONAL

1 Fulham Correctional Centre

West Sale, AUS

Victoria

1997, 2002

July-12

Victoria Ministry of Corrections

922

Managed

4 years

Nineteen-years and four-months

October-35

2 Kutama Sinthumule Correctional Centre

Louis Trichardt, SA

South Africa

2003, 2008

February-02

RSA Dept. of Correctional Services

3,024

Managed

25 years

None

February-27

3 Ravenhall Correctional Centre

Melbourne, AUS

Victoria

2017

November-17

Victoria Ministry of Corrections

1,300

Managed

24 years 5 months

None

March-42

Property List

‌Updated as of May 6, 2025

Facility Name

City

State

Years

Built/ Renovated

Years Contracted

Primary

Lessee(s)

Design

Capacity

Ownership Type

Term(s)

Renewal

Option(s)

Upcoming Renewal Date

GEO LEASED PROPERTIES (NOT MANAGED)

Great Plains Correctional Facility

Hinton

Oklahoma

1990-1992, 1995, 2008, 2011, 2013, 2015,

2018

May-23

OK DOC

1,940

Owned

5 years, 6 months

Unlimited, one-year

October-28

Guadalupe County Correctional Facility

Santa Rosa

New Mexico

1998/1999, 2008

November-21

NMCD

600

Owned

2 years

Nine, Two-year options

October-25

Southern Peaks Regional Treatment Center

Canon City

Colorado

2003, 2004

N/A

Abraxas Alliance

136

Owned

N/A

Southwood Interventions

Chicago

Illinois

1925, 1950, 1975, 2008

N/A

Abraxas Alliance

Owned

N/A

Woodridge Interventions

Woodridge

Illinois

1982, 1986

N/A

Abraxas Alliance

Owned

N/A

Abraxas Ohio

Shelby

Ohio

1900, 1935, 1965, 1992

N/A

Abraxas Alliance

100

Owned

N/A

Abraxas I

Marienville

Pennsylvania

1930s, 1960, 1982, 1985, 1987, 1989,

1999, 2003

N/A

Abraxas Alliance

204

Owned

N/A

Abraxas Academy

Morgantown

Pennsylvania

1999, 2000

N/A

Abraxas Alliance

214

Owned

N/A

Property List

‌EBITDA:

EBITDA is defined as net income, adjusted by adding provisions for income tax, interest expense, net of interest income, and depreciation and amortization.

Adjusted EBITDA:

Adjusted EBITDA is defined as EBITDA adjusted for net loss attributable to non-controlling interests, stock-based compensation expenses,pre-tax, start-up expenses,pre-tax, transaction fees,pre-tax, ATM equity program expenses,pre-tax, close-out expenses,pre-tax and other non-cash revenue & expenses,pre-tax.

Adjusted Net Income:

Adjusted Net Income, is defined as net income attributable to GEO adjusted for loss on extinguishment of debt, pre-tax, start-up expenses,pre-tax, transaction fees,pre-tax, ATM equity program expenses,pre-tax, close-out expenses,pre-tax, and the tax effect of adjustments to net income attributable to GEO.

Net Debt/Net Leverage:

Net Debt is defined as gross principal debt less cash from restricted subsidiaries. Net Leverage is defined as Net Debt divided by Adjusted EBITDA.

Net Operating Income (NOI):

Net Operating Income is defined as revenues less operating expenses, excluding depreciation and amortization expense, general and administrative expenses, and real estate related operating lease expense.Net Operating Income is calculated as net income adjusted by subtracting equity in earnings of affiliates, net of income tax provision, and by adding income tax provision, interest expense, net of interest income, loss on extinguishment of debt, depreciation and amortization expense, general and administrative expenses, start-up expenses, pretax, and operating lease expense, real estate.

Definitions

Disclaimer

The GEO Group Inc. published this content on May 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 10:15 UTC.