# The GEO Group Raises Q4 Revenue Forecast to $777M-$827M After Record Q3 By John Kim Canonical URL: https://www.tokenpost.com/news/business/51039 Published: 2026-11-07T19:58:05.000Z Updated: 2026-11-07T19:58:05.000Z Section: Business > The company also raised its adjusted EBITDA forecast to $149 million to $154 million after third-quarter revenue climbed 12% year over year. The GEO Group raised its fourth-quarter 2026 revenue forecast to $777 million to $827 million on Thursday, following a quarter in which revenue climbed 12% year over year and reached a company record. The new revenue range is $19 million higher at both ends than GEO’s Aug. 6 outlook of $758 million to $808 million. Its adjusted EBITDA forecast rose $12 million at both ends, to $149 million to $154 million from $137 million to $142 million. Adjusted EBITDA is a measure of earnings that excludes interest, taxes, depreciation and amortization, along with specified adjustments. For the quarter ended Sept. 30, revenue was $761.1 million and adjusted EBITDA was $145.3 million, up 21% from a year earlier. Chairman, CEO and founder George C. Zoley called it “a record-breaking quarter for GEO.” GEO also forecast fourth-quarter adjusted net income of $46 million to $51 million, or 35 cents to 39 cents per diluted share. Its full-year 2026 outlook is revenue of $2.975 billion to $3.025 billion and adjusted EBITDA of $568 million to $573 million. GEO provides contracted services for secure facilities, processing and reentry centers, along with rehabilitation, post-release support and electronic monitoring programs. It also outlined activation work under contracts with U.S. Immigration and Customs Enforcement (ICE) at facilities in Colorado, North Carolina and Texas. GEO expects work at the 1,188-bed Big Horn Facility in Colorado and the 1,320-bed Rivers Facility in North Carolina to finish by the end of 2026. Normalized operations and earnings at both are expected in early 2027. The 2,329-bed Big Spring Complex in Texas, which includes two facilities, is expected to complete activation by the end of the first quarter of 2027, with normalized operations and earnings in the second quarter. ICE will reimburse the capital costs of reactivating the facilities and fund start-up expenses during the activation period. GEO [announced the Big Spring contract]() on Nov. 2. The company expects the Big Spring activation work to finish by the end of the first quarter of 2027. ## Links in this article - [announced the Big Spring contract](https://www.tokenpost.com/news/business/46468)