Filing Flows › GEO Group (GEO) › Q3 2025
GEO Group (GEO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
GEO Group (GEO) reported revenue of $682M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +7% from the quarter before. Operating margin was 6.0%, net earnings $174M (25.5% of revenue).
GEO Group, Q3 2025: revenue $682M (+13% year over year), operating margin 6.0%, net earnings $174M, operating cash flow $79.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $682M | +7% | +13% |
| Operating profit | $40.7M | -43% | -51% |
| Net earnings | $174M | +498% | +562% |
| Operating cash flow | $79.6M | +103% | -27% |
What changed
Revenue was $682.3M in Q3 2025, up 13% year over year and up 7% from the previous quarter. GEO Secure Services was the largest line at 78% of revenue. GEO Secure Services added $76.2M year over year (up 17%), 96% of the total change.
Operating profit was $40.7M, a 6.0% margin (down 7.7 points year over year). Operating profit fell $41.7M even though revenue rose $79.2M versus a year earlier, so costs grew faster than sales. Total costs grew 23% against revenue growth of 13%. The fastest-growing cost line was General & admin (+32%). Net earnings were $173.9M, up 561% year over year. The effective tax rate was 24.5%. Non-operating items added $189.6M, 82% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $79.6M (down 27% year over year), 46% of net earnings. Non-cash charges added back $33.0M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items used $135.0M. Capital expenditures of $93.7M exceeded it, leaving free cash flow of −$14.1M.
Questions
What was GEO Group's revenue in the third quarter 2025?
GEO Group (GEO) reported revenue of $682M for the third quarter 2025 (Q3 2025), +13% from a year earlier and +7% from the quarter before.
Was GEO Group profitable in the third quarter 2025?
Operating profit was $40.7M (6.0% of revenue) and net earnings $174M.
Source: GEO Group 10-Q on SEC EDGAR.