BOCA RATON, Fla., June 20, 2019 – The Group, Inc. () recently stated first quarter 2019 net income attributable to of $40.70M, or $0.34 per diluted share, contrast to $35.00M, or $0.29 per diluted share, for the first quarter 2018. stated total revenues for the first quarter 2019 of $610.70M up from $564.90M for the first quarter 2018. First quarter 2019 results reflect a $1.50M loss on real estate assets. Excluding this loss, stated first quarter 2019 Adjusted Net Income of $42.20M, or $0.35 per diluted share.

GEO stated first quarter 2019 Normalized Funds from Operations (“Normalized FFO”) of $60.30M, or $0.50 per diluted share, contrast to $52.60M, or $0.43 per diluted share, in the first quarter 2018. GEO stated first quarter 2019 Adjusted Funds from Operations (“AFFO”) of $80.30M, or $0.67 per diluted share, contrast to $69.80M, or $0.57 per diluted share, in the first quarter 2018.

Stock Repurchase Program:

GEO did not repurchase any shares of its common stock during the first quarter of 2019 and presently has about $105.0M in available authorization under the $200.0M stock repurchase program approved by GEO’s Board of Directors, which is effective through October 20, 2020.

2019 Financial Guidance:

GEO anticipates full-year 2019 total revenue to be about $2.47B. GEO anticipates full-year 2019 Net Income Attributable to GEO to be in a range of $1.42-$1.48 per diluted share and Adjusted Net Income to be in a range of $1.44-$1.50 per diluted share.

For the second quarter 2019, GEO anticipates total revenues to be in a range of $607.0M to $612.0M. GEO anticipates second quarter 2019 Net Income Attributable to GEO to be in a range of $0.35 to $0.37 per diluted share and Adjusted Net Income to be in a range of $0.36 to $0.38 per diluted share. GEO anticipates second quarter 2019 AFFO to be in a range of $0.65 to $0.67 per diluted share.

(Visited 20 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *