GEO Group (GEO) FY2023 results: revenue $2.4 billion, up 1.5% on the year
GEO Group Inc. (GEO) reported revenue of $2.4 billion for fiscal 2023, the year ended 31 December 2023, up 1.5% on the year before. Net income was $107 million, down 37.5%, and diluted earnings per share $0.72. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$2.4 billion
+1.5% on the year
FY2016FY2023
Operating margin
14.6%
16.2% a year earlier
FY2016FY2023
Net income
$107 million
-37.5% on the year
FY2016FY2023
Diluted EPS
$0.72
-38.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
278
288
283
-3.5%
Capital expenditure
73.0
90.0
69.4
-18.9%
Free cash flow
205
198
213
+3.4%
Free cash flow margin
8.5%
8.3%
9.4%
Cash from investing
-53.4
11.4
-53.7
Cash from financing
-208
-699
11.3
Depreciation and amortisation
126
133
135
-5.4%
Share-based compensation
15.1
16.2
19.2
-7.0%
Dividends paid
n/a
n/a
30.5
Dividend per share
$0.00
$0.00
$0.25
Diluted shares, weighted
124m
122m
121m
+1.2%
Shares outstanding at period end
126m
124m
122m
+1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,292
1,166
976
+10.7%
Non-controlling interest
-1.5
-1.3
-1.2
Debt
1,838
2,046
2,968
-10.2%
Operating lease liabilities
82.1
73.8
89.9
+11.3%
Finance lease liabilities
0.5
1.3
2.0
-57.1%
Other liabilities
486
474
503
+2.5%
Total liabilities and equity
3,696
3,760
4,537
-1.7%
Fixed assets
1,944
2,002
2,038
-2.9%
Goodwill
755
755
755
0.0%
Intangible assets
136
148
166
-8.0%
Cash and equivalents
94.0
95.1
506
-1.2%
Receivables
390
416
366
-6.3%
Inventory
25.1
20.7
9.0
+21.3%
Other assets
352
323
697
+8.9%
Total assets
3,696
3,760
4,537
-1.7%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.