Earnings Per Share

6 Months Ended

Jun. 30, 2025

8. EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing the net income attributable to The GEO Group, Inc. by the weighted-average number of common shares outstanding for the period. Basic and diluted earnings (loss) per share were calculated for the three and six months ended June 30, 2025 and 2024 as follows (in thousands, except per share data):


	Three Months Ended					Six Months Ended
	June 30, 2025		June 30, 2024			June 30, 2025		June 30, 2024
Net income (loss)	$	29,074	$	(32,563	)	$	48,616	$	(9,904	)
Net loss attributable to noncontrolling interests		34		50			50		59
Net income (loss) attributable to The GEO Group, Inc.		29,108		(32,513	)		48,666		(9,845	)
Basic earnings (loss) per share attributable to The GEO Group, Inc.
Weighted average shares outstanding		138,539		130,518			137,844		125,631
Per share amount	$	0.21	$	(0.25	)	$	0.35	$	(0.08	)
Diluted earnings (loss) per share attributable to The GEO Group, Inc.
Weighted average shares outstanding		138,539		130,518			137,844		125,631
Dilutive effect of equity incentive plans		1,931		—			2,866		—
Weighted average shares assuming dilution		140,470		130,518			140,710		125,631
Per share amount	$	0.21	$	(0.25	)	$	0.35	$	(0.08	)

For the three months ended June 30, 2025, 557,387 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 68,750 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the three months ended June 30, 2024, as the Company experienced a net loss, no potential common shares were included in the computation of diluted loss per share as they would be antidilutive. There were 1,603,169 weighted average shares of common stock underlying options excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 1,930,248 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the six months ended June 30, 2025, 438,418 weighted average shares of common stock underlying options were excluded from the computation of diluted earnings per share ("EPS") because the effect would be anti-dilutive. There were 45,580 common stock equivalents from restricted shares that were anti-dilutive for the period.

For the six months ended June 30, 2024, as the Company experienced a net loss, no potential common shares were included in the computation of diluted loss per share as they would be antidilutive. There were 1,587,479 weighted average shares of common stock underlying options excluded from the computation of diluted EPS because the effect would be anti-dilutive. There were 2,320,286 common stock equivalents from restricted shares that were anti-dilutive for the period.