GEO Group reports 17% revenue growth as net income nearly doubles in Q1

The GEO Group (NYSE:GEO) delivered a strong start to 2026, characterized by double-digit top-line growth and a near doubling of net income.

The Boca Raton-based provider of government-contracted services reported total revenues of $705.2 million for the first quarter ended March 31, 2026, a 17% increase compared to the $604.6 million reported in the first quarter of 2025.

The company’s profitability metrics saw substantial expansion, reflecting increased utilization across its secure facilities and electronic monitoring segments.

Net income attributable to GEO Operations rose to $38.3 million, or $0.29 per diluted share, representing a 96% surge over the prior-year period.

On an adjusted basis—excluding approximately $0.4 million in pre-tax transaction fees and restructuring expenses—adjusted net income was $38.6 million.

Operational efficiency remained a key driver of the quarterly performance.

Adjusted EBITDA reached $131.4 million, a 32% increase year-over-year.