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The GEO Group, Inc. is a diversified government service provider specializing in the ownership, leasing, and management of secure facilities, processing centers, and community reentry centers. The company operates in the United States, Australia, South Africa, and the United Kingdom, offering a range of services including facility management, rehabilitation programs, electronic monitoring, and secure transportation. GEO sells services related to secure facility operations, electronic monitoring, and community reentry programs.
- U.S. Secure Services - Manages U.S.-based correctional and detention facilities, providing secure housing and related services.
- Electronic Monitoring and Supervision Services - Offers technology and services for monitoring community-based parolees, probationers, and pretrial defendants using devices like GPS and alcohol monitors.
- Reentry Services - Provides residential and non-residential treatment, educational programs, and halfway house services to assist individuals in reintegrating into their communities.
- International Services - Operates secure services in South Africa and Australia, managing facilities and providing related services.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
George C. Zoley ExecutiveBoard | Executive Chairman | Director of several GEO subsidiaries | Founder of GEO in 1984, George C. Zoley has been a key figure in its growth, serving as CEO until 2021 and now as Executive Chairman. He has overseen major business developments and financial growth. | |
Brian R. Evans Executive | Chief Executive Officer | None | Brian R. Evans joined GEO in 2000 and became CEO on January 1, 2024. He has held various financial leadership roles within GEO, including CFO, and has overseen significant financial growth and acquisitions. | |
Christopher D. Ryan Executive | SVP of Human Resources | Board member of several non-profit organizations in Palm Beach County, Florida | Christopher D. Ryan joined GEO in 2011 and leads HR strategies and DEI efforts. He has held various HR leadership roles within GEO. | |
J. David Donahue Executive | Chief Executive Officer | None | J. David Donahue became CEO on January 1, 2025, after serving in various leadership roles at GEO since 2009. He has extensive experience in corrections management. | |
Joe Negron Executive | SVP, Legal Services, General Counsel, Secretary | None | Joe Negron joined GEO in 2018 and has served in various legal leadership roles. He has a background in business law and served in the Florida Legislature. | |
Mark J. Suchinski Executive | SVP and Chief Financial Officer | None | Mark J. Suchinski joined GEO in 2024 as CFO, with a background in finance and leadership roles at Spirit AeroSystems and Home Products International. | |
Matthew T. Albence Executive | SVP of Client Relations | Principal at GrindStone Strategic Consulting, LLC | Matthew T. Albence joined GEO in 2022, with a background in federal law enforcement, including roles at ICE. He also runs a consulting firm. | |
Richard K. Long Executive | SVP of Project Development | Member and past-chairman of Associated Builders and Contractors (ABC) | Richard K. Long joined GEO in 2017, with over 30 years of experience in construction, previously working at Balfour Beatty Construction. | |
Ronald A. Brack Executive | EVP, Chief Accounting Officer, Controller | None | Ronald A. Brack joined GEO in 2005 and oversees accounting operations. He has a background in auditing and fleet management. | |
Shayn P. March Executive | Acting Chief Financial Officer, EVP, Finance | None | Shayn P. March joined GEO in 2009 and became Acting CFO in 2024. He has a background in finance and banking, previously working at BNP Paribas. | |
Wayne Calabrese Executive | President and Chief Operating Officer | None | Wayne Calabrese rejoined GEO in 2021 and became President and COO in 2024. He has extensive experience in legal and operational roles within GEO. | |
Jack Brewer Board | Director | Adjunct Professor at Fordham Gabelli School of Business | Jack Brewer has been a director at GEO since 2021, with experience in business leadership and consulting, and is involved in global charity efforts. | |
Lindsay L. Koren Board | Director | SVP, Division General Counsel at Darden Restaurants | Lindsay L. Koren has been a director at GEO since 2022, with a background in legal and compliance roles at Darden Restaurants and Walmart. | |
Scott M. Kernan Board | Director | None | Scott M. Kernan has been a director at GEO since 2018, with extensive experience in corrections, having served as Agency Secretary of the California Department of Corrections and Rehabilitation. | |
Terry Mayotte Board | Director | Director at Trean Insurance Group, Inc. | Terry Mayotte has been a director at GEO since 2021, with a background in finance and insurance, previously serving as CFO at Oasis Outsourcing. |
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Given the decrease in participant counts under the ISAP contract and the associated declines in both revenue and net operating income in your Electronic Monitoring and Supervision Services segment, what specific strategies are you implementing to address this trend and improve financial performance?
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With the potential to scale up the ISAP program to several hundreds of thousands or even millions of participants, what are the anticipated capital expenditure requirements, and how do you plan to manage margins in light of varying costs associated with different monitoring devices?
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Considering your expectation of increased federal funding under the incoming administration, how confident are you that these funds will materialize as projected, and what are the potential risks to your outlook if they do not?
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How do you plan to balance your goals of debt reduction and potential capital returns to shareholders with the need for capital investment to scale up operations in response to new opportunities in your federal contracts?
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In light of the new RFI issued by ICE for the ISAP program and the possibility of other companies entering the space, how are you positioning GEO to maintain its market leadership and address any competitive threats that could impact your exclusive contract status?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Health care services entity in Australia | 2024 | Acquired for AUD 6.0 million (~$3.9 million) in the first quarter of 2024; however, the net assets and operations were not material to quarterly results. |
Recent press releases and 8-K filings for GEO.
- Q1 2025 Financial Performance: Revenue reached $604.6M, net income of $19.6M, net income per diluted share of $0.14, and adjusted EBITDA of $99.8M, indicating stable performance
- New Contract Awards & Investment: Awarded contracts to reactivate two facilities with 2,800 beds and over $130M in annualized revenues, alongside a $70M investment to expand detention capacity
- Expense Increase & Reorganization: Incurred a $5M increase in general & administrative expenses and $6M higher payroll taxes, reflecting a management reorganization to support future growth
- Capital Expenditures: Total capital expenditures were $29.0M, allocated among growth, technology, and facility maintenance
- Market and Liquidity: Market capitalization stood at $4.12B with detailed debt and liquidity disclosures underscoring a robust financial position
- GEO Group held an Investor Day on March 20, 2025, as disclosed in its Form 8-K filing which included an attached management presentation (Exhibit 99.1) detailing the event and related updates.
- The filing highlights significant growth opportunities including new ICE service contracts such as the Delaney Hall facility in NJ, Karnes County ICE Center in TX, and North Lake Facility in MI, with projected annualized revenues ranging from approximately $60M to $79M.
- The document also emphasizes forward-looking strategies focused on reducing net debt, optimizing free cash flow, and exploring potential asset sales to strengthen GEO Group’s financial profile and expand its operations.
- Geo Group highlighted its role as the largest service provider to ICE, emphasizing diversified services in detention, electronic monitoring, and secure transportation.
- The presentation detailed major contract awards—including Delaney Hall, Karnes County ICE Center, and the North Lake Facility—with projected annualized revenues up to $79M+.
- Strategic initiatives were outlined to drive future revenue growth, improve adjusted EBITDA, and reduce net debt, signaling significant capital investments and operational expansion.