Security Company GEO's Q3 Miss: Lower ISAP Participants Offset By Strategic Contracts

The GEO Group, Inc. (NYSE:GEO) shares are trading higher after the company reported third-quarter revenue of $603.1 million, missing the consensus of $613.26 million.

Adjusted EBITDA declined to $118.6 million from $118.7 million a year ago quarter. Adjusted EPS of 21 cents came below the consensus of 24 cents.

Third-quarter results show lower-than-expected revenue in the Electronic Monitoring and Supervision Services segment due to a decline in participant counts under the federal Intensive Supervision Appearance Program (ISAP).

Notably, Average ISAP participant counts were around 177,000 in the quarter, down from 184,000 in the second quarter of 2024.

George C. Zoley, Executive Chairman of GEO, said, “We have 18,000 available ...