The GEO Group posted 2Q26 revenue up 15% to $732.1 million, net income attributable to GEO Operations up 63% to $47.5 million.
Adjusted EBITDA climbed 20% to $142 million; results reflected revenue growth from 2025 contract wins and lower labor costs.
The company repurchased 1,600,000 shares for $36.6 million during the quarter, leaving $323 million under its $500 million authorization.
Contracts and updated outlook
GEO signed two five-year ICE support services contracts to activate the 1,188-bed Big Horn facility and 1,320-bed Rivers facility, targeting $165 million in annual revenue.
The company raised its FY26 outlook to revenue of $2.95 billion-$3.05 billion, net income attributable to GEO Operations of $168 million-$175 million, and adjusted EBITDA of $550 million-$560 million.
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