GE
GEO
GEO GEO Group (GEO) Q2 FY26 earnings call
The GEO Group delivered strong second-quarter results, driven by significant revenue growth from new contracts secured in 2025 and increased ICE populations. The company is actively pursuing the reactivation of idle facilities and potential sales of turnkey facilities to ICE, aiming to retain support services contracts and use proceeds for debt reduction and share repurchases. Despite some contract delays, the outlook remains positive with potential for further upside from ISAP program mix shifts and transportation services.
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GEO operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Beds under contract ICE | ~26KThese facility activations represent annual revenues of approximately $300 million and increased our total beds under contract with ICE to approximately 26,000 beds.Source: earnings call transcript | ~27KIn our Secure Services segment, we entered into new contracts to house ICE detainees at 4 facilities valued at approximately $280 million in annual revenues and totaling approximately 6,000 beds, increasing our total active ICE beds to approximately 27,000.Source: earnings call transcript | — |
| Detention census ICE | ~21KThe census across our ICE facilities reached a high of 24,000 early this year but has since declined to approximately 21,000, but still representing more than 1/3 of the national ICE population of approximately 58,000.Source: earnings call transcript | ~24KOur current centers across our active ICE facilities is approximately 24,000, representing more than 1/3 of the current national ICE population of approximately 68,000, which has distributed over 225 separate locations that are primarily short-term GEO facilities.Source: earnings call transcript | — |
| ISAP participants on GPS ankle monitors | 48K+The number of ISAP participants on GPS ankle monitors has increased to more than 48,000 currently from 17,000 in early 2025.Source: earnings call transcript | ~54KThe number of ISAP participants on GPS ankle monitors has increased to approximately 54,000 currently from 17,000 early 2025.Source: earnings call transcript | — |
| ISAP participants assigned to case management services | ~111KWe also continue to experience a steady increase in the number of ISAP participants assigned to case management services, which involve staff interaction and monitoring for approximately 111,000 individuals currently.Source: earnings call transcript | ~116KWe also continue to experience a steady increase in the number of ISAP participants assigned to case management services which involves staff interaction and monitoring for approximately 116,000 individuals currently.Source: earnings call transcript | — |
| Idle beds | ~6,000We have approximately 6,000 idle beds at 6 company-owned facilities, which are primarily former US Bureau of Prisons facilities, and therefore, high security, making them ideally suited for the current needs of the federal government.Source: earnings call transcript | ~4,500We have also approximately 4,500 idle beds that remain available at 5 company-owned facilities, which are designed for high security and therefore, well suited for the current needs of the federal government.Source: earnings call transcript | — |
| Idle facilities | 6We have approximately 6,000 idle beds at 6 company-owned facilities, which are primarily former US Bureau of Prisons facilities, and therefore, high security, making them ideally suited for the current needs of the federal government.Source: earnings call transcript | 5We have also approximately 4,500 idle beds that remain available at 5 company-owned facilities, which are designed for high security and therefore, well suited for the current needs of the federal government.Source: earnings call transcript | -16.7% |
| Owned beds | 50KGiven the intrinsic value of our assets, including 50,000 owned beds at 70 facilities and our current and expected future growth, we believe that our stock is significantly undervalued and offers a very attractive investment opportunity.Source: earnings call transcript | 50KGiven the intrinsic value of our assets, including 50,000 owned beds, our strong financial performance and providing diversified secure support services and our expected future growth, we believe our stock continues to be significantly undervalued and offers a very attractive investment opportunity.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.