09:38 AM EDT, 05/07/2024 (MT Newswires) -- GEO Group ( GEO ) reported Q1 adjusted net income Tuesday of $0.18 per diluted share, down from $0.22 a year earlier.

Four analysts polled by Capital IQ expected $0.20.

Revenue for the quarter ended March 31 was $605.7 million, down from $608.2 million a year earlier.

Four analysts surveyed by Capital IQ expected $603.8 million.

For Q2, GEO said it expects revenue of $600 million to $610 million. Four analysts polled by Capital IQ expect $608.8 million.

For full-year 2024, the diversified government service provider said it expects adjusted net income of $0.87 to $1.02 per diluted share. Four analysts polled by Capital IQ expect $1.03. Revenue for the year is expected to be roughly $2.4 billion, unchanged from its prior outlook. Four analysts surveyed by Capital IQ expect $2.45 billion.

Geo shares were down nearly 5% in recent trading.

Price: 13.71, Change: -0.72, Percent Change: -4.99