Adjusted EBITDA remained consistent at approximately $119 million year-over-year.
Adjusted net income was approximately $31 million or $0.22 per diluted share, slightly above prior year’s $30 million or $0.23 per diluted share.
GEO reported Q2 2025 net income of approximately $29 million or $0.21 per diluted share on revenues of approximately $636 million, compared to a net loss of $32.5 million in Q2 2024.
Net interest expense decreased by approximately $9 million year-over-year due to debt reduction efforts.
Operating expenses increased 7% due to start-up costs for new ICE facilities; general and administrative expenses rose 8% due to management reorganization and higher employee costs.
Revenues increased 12% year-over-year in owned and leased secure facilities, driven by new ICE contracts and census growth.
Total net debt was approximately $1.7 billion at quarter-end, reduced to $1.47 billion post quarter through facility sale and debt repayments.