Why Is ICE Detention Facility Management Company Geo Group Stock Soaring Today?
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The GEO Group, Inc. (GEO) shares surged 25.11% to $22.97 after reporting Q1 revenue of $705.2 million, exceeding expectations of $688.9 million, and raising FY2026 guidance. Revenue rose 17% year-over-year, driven by new ICE detention facilities, adding 6,000 beds and increasing total capacity to 26,000. Adjusted EBITDA increased 32% to $131.4 million, with adjusted EPS of 29 cents surpassing the 20 cents consensus. The company repurchased 3.6 million shares for $50 million, with $359 million remaining under its buyback program. Q2 guidance includes EPS of $0.25–$0.29 and revenue of $715–$725 million.
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