Geo Group, Inc.

+0.10 (+1.29%)
Other Pre-Announcement

Geo Group Announces Change In Corporate Structure

Published: 12/02/2021 11:17 GMT
Geo Group, Inc. (GEO) - Geo Group Announces Change in Corporate Structure.
Geo Group - Board Approved Plan to Terminate Its Reit Election and Become a Taxable C Corporation, Effective for Fiscal Year Ending Dec 31, 2021.
Geo Group - Board Also Voted Unanimously to Discontinue Geo's Quarterly Dividend.
Geo Group Inc- During Q4 of 2021, Geo Expects to Incur a One-time, Non-cash Deferred Tax Charge of Approximately $75 Million.
Geo Group - Expect to Allocate Free Cash Flow to Fund Quality Growth Opportunities and Potentially Return Capital to Shareholders in Future.
Geo Group Inc- Geo Also Expects to Incur Approximately $34 Million in Incremental Income Tax Expense in Q4 of 2021.
Geo Group - Expects to Report a Loss in Net Income Attributable to Geo for Q4 of 2021 of About $69 Million.
Geo Group Inc- Geo Expects Q4 2021 Adjusted Net Income to Be Between $0.29 and $0.31 per Diluted Share.
Geo Group Inc - Expects Q4 2021 AFFO to Be Between $0.58 and $0.60 per Diluted Share.