filecrux
Oct 29, 4:10 PM
$GEO Follow-up: Does GEO's new
$140M-a-year, 10-year Tacoma ICE contract make its revenue safer?
🏢 GEO Group, which runs detention centers and prisons for governments, said in an October 29 release that it signed a new 10-year contract to keep running its own 1,635-bed Northwest ICE Processing Center in Tacoma, WA, through October 27, 2036
✅ GEO expects about
$140M in revenue a year from the contract, roughly 4.6–4.7% of its
$2.95–3.05B 2026 revenue guidance; GEO's market value is about
$3.63B at
$27.57 (16:00 ET, October 28, 2026)
⚠️ The October 5 8-K says ICE can end any GEO contract for non-appropriation of funds or for convenience, so a 10-year term does not guarantee 10 years of revenue
📅 Next: The contract runs through October 27, 2036; GEO said on October 5 there is no definitive agreement nor a precise timeline for selling more centers to ICE
Source: Business Wire release, Oct 29 + SEC 8-Ks, Aug 6 & Oct 5
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