GEO Group (GEO) said late Monday it plans to invest $70 million to strengthen its capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring services to US Immigration and Customs Enforcement.
The company said it intends to pursue a possible sale of underperforming company-owned state correctional facilities to offset the capital expenditure and further reduce debt.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments