Investing.com - The Geo Group Inc 's (NYSE:GEO) shares came under pressure on Monday after the company released its second quarter results and soft third quarter and full-year revenue outlook.
The company earned $0.32 per share in the second quarter, topping the consensus analyst estimate by $0.02; however revenue was a miss - coming in at $577.07 million, $7.63 million below analysts expectations, but up 5.2% year-over-year.
The company’s also issued third quarter and full year revenue guidance below expectations.The company is looking for third quarter revenue of $544-$562 million, versus expectations for $579 million. Full-year revenue is targeted at $2.24 billion versus the $2.29 billion forecast.
GEO Group’s shares were down 8% in afternoon trade.