GEO Group Awarded Five-Year Support Services Contract From ICE For Immigration Processing At Its Rivers Facility In North Carolina; Sees Annual Revenue Of ~$80M In Year One
The support services contract is expected to generate approximately $80 million in annual revenues in the first full year of operations. GEO’s support services are expected to include the exclusive use of the Facility
The GEO Group won a big five-year contract to help with immigration processing at one of its facilities, which means the company expects to make about $80 million per year from this deal. When a company lands a long contract like this, it shows customers trust them and they'll have steady money coming in—that's a sign to watch if the company can deliver on its promises.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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