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Geo Group Inc. (NYSE:GEO) announced Monday that it entered into a second amendment to its existing credit agreement. According to a statement in a Securities and Exchange Commission filing, the amendment was executed on Thursday and involves Geo Group, Geo Corrections Holdings, Inc., Citizens Bank, N.A. as administrative agent, and other lenders.
The amendment removes the 3.00 to 1.00 total leverage ratio requirement from one-half of the $150 million general carve-out provision in the credit agreement’s restricted payments negative covenant. This change alters the conditions under which restricted payments may be made by the company.
Details of the amendment are included as an exhibit to the filing. The company is incorporated in Florida and its common stock trades on the New York Stock Exchange under the ticker GEO.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, Geo Group Inc reported its third-quarter 2025 financial results, surpassing market expectations. The company achieved an earnings per share of $0.25, exceeding the forecasted $0.23. Additionally, Geo Group’s revenue reached $682.3 million, outperforming the projected $664.39 million. Despite these positive earnings and revenue results, Jones Trading revised its price target for Geo Group to $37.00 from $50.00. The firm maintained a Buy rating, citing slower-than-expected growth as the reason for the target adjustment. These developments reflect ongoing assessments of the company’s performance and future potential.
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