๐น Revenue: $636.2M (Est. $622.0M) ๐ข; +4.8% YoY
๐น Adj. EPS: $0.22 (Est. $0.17) ๐ข
๐ธ$300M Buyback announced
Q3 & Q4 Guidance
๐น Q3 EPS: $0.20โ0.23 (Est. $0.26) ๐ด
๐น Q3 Revenue: $650Mโ660M
๐น Q3 Adj. EBITDA: $115Mโ125M
๐น Q4 EPS: $0.28โ0.35 (Est. $0.36) ๐ด
๐น Q4 Revenue: $658Mโ673M
๐น Q4 Adj. EBITDA: $132Mโ147M
FY25 Guidance
๐น FY Adj. EPS: $0.84โ0.94 (Est. $0.93) ๐ก
๐น FY Revenue: ~$2.56B
๐น FY Adj. EBITDA: $465Mโ490M
๐น FY CapEx: $200Mโ210M
Other Metrics
๐น Net Income: $29.1M vs. ($32.5M) YoY
๐น Adj. EBITDA (Q2): $118.6M
๐น H1 Revenue: $1.24B
๐น H1 Net Income: $48.7M vs. ($9.8M) YoY
๐น Net Debt (post-sale): ~$1.47B; Net Leverage: ~3.3x
Commentary
๐ธ โWe believe our equity is undervalued and the $300M buyback reflects our strong conviction.โ โ Exec. Chairman George C. Zoley
๐ธ Lawton sale generated $312M; partial proceeds used to acquire Western Region Detention Facility
๐ธ 4 major ICE facility activations in 2025: Delaney Hall, North Lake, D. Ray James, and Adelanto
๐ธ Adelanto center reopened after court restrictions lifted; ramping expected to add $31M annual rev
๐ธ Extended ISAP contract with ICE through August; new bidding underway
Strategic & Company Updates
๐ธ $300M share repurchase authorized through June 2028
๐ธ Lawton Correctional Facility sold to State of Oklahoma for $312M
๐ธ Acquired Western Region Detention Facility (San Diego) for ~$60M
๐ธ Facility activations expected to add ~$240M in combined annual revenue at full ramp