Why GEO Group's Stock Is Trading Higher Today

The GEO Group Inc GEO shares are trading higher after the company reported better-than-expected second-quarter results.

George C. Zoley, Executive Chairman of GEO, said, “We are pleased with our strong second-quarter results and our increased financial guidance for the full year. We believe our robust financial performance is representative of the strength of our diversified business segments."

"We recognize that there have been concerns regarding our future access to financing, and we believe that our continued focus on debt reduction, the ongoing review of potential asset sales, and the evaluation of our corporate tax structure are all prudent steps as we work towards addressing these concerns,” Zoley concluded.

The GEO Group is a real estate investment trust specializing in detention facilities and community-reentry centers. The company leases and oversees secure detention centers, rehabilitation and reentry facilities and service centers for troubled youth.

The GEO Group also provides counseling, education, drug abuse treatment, technology-based supervision programs and detainee transportation.

The GEO Group has a 52-week high of $11.95 and a 52-week low of $4.96.