7/102 sources · 2 publishersUpdated Nov 9, 21:42 UTC
Geo Group reports Q3 earnings and expects $85 million annual revenue from new ICE contract
Geo Group Inc. released its third‑quarter earnings and disclosed a five‑year contract with U.S. Immigration and Customs Enforcement to run a detention center in Hudson. The agreement is projected to generate $85 million of annual income. The facility will house 1,188 detainees.
Why it matters
The company expects the $85 million annual revenue to boost its 2026 earnings outlook. The added contract lengthens GEO’s cash‑flow visibility through 2029.
Key facts
- 1Geo Group reported third‑quarter earnings. bizwest.com
- 2The ICE contract runs for five years. bizwest.com
- 3The contract is expected to produce $85 million of annual income. bizwest.com
- 4The Hudson detention center has a capacity of 1,188 beds. dailycamera.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.