Latest news with #GEO
Business Wire
9 hours ago
- Business
- Business Wire
The GEO Group Announces Date for Second Quarter 2025 Earnings Release and Conference Call
BOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE:GEO) ("GEO") will release its second quarter 2025 financial results on Wednesday, August 6, 2025 before the market opens. GEO has scheduled a conference call and simultaneous webcast for 11:00 AM (Eastern Time) on Wednesday, August 6, 2025. Hosting the call for GEO will be George Zoley, Executive Chairman of the Board, J. David Donahue, Chief Executive Officer, and Mark Suchinski, Chief Financial Officer. To participate in the teleconference, please contact one of the following numbers 5 minutes prior to the scheduled start time: 1-877-250-1553 (U.S.) 1-412-542-4145 (International) In addition, a live audio webcast of the conference call may be accessed on the Webcasts section of GEO's investor relations home page at A webcast replay will remain available on the website for one year. A telephonic replay will also be available through August 13, 2025. The replay numbers are 1-877-344-7529 (U.S.) and 1-412-317-0088 (International). The passcode for the telephonic replay is 2104307. If you have any questions, please contact GEO at 1-866-301-4436.
Time of India
20 hours ago
- Politics
- Time of India
China's military goes all out in space
China views space as a critical military domain, just as it does the land, sea and air. While China's space program is a source of national pride, its authoritarian leader Chairman Xi Jinping aims to displace the USA as the leading space power. This explains the enormous investment Beijing is pouring into scientific, civil and military space assets. So what progress is China making? The US Space Force , in an updated space threat fact sheet published in April, described China's and Russia's advances as "a serious threat to US national security interests in, from and to space". In fact, the release warned starkly, "China is the pacing challenge and is rapidly improving its space capabilities to track and target US military forces. China and Russia are pursuing a wide range of counter-space capabilities to disrupt and degrade US space capabilities." The statistics are certainly impressive. Last year, China conducted 68 space launches. Cumulatively, these rocket launches placed 260 individual payloads into orbit, of which 67 - or 26 per cent - were satellites capable of performing intelligence, surveillance and reconnaissance (ISR). Phenomenally, China's on-orbit presence has snowballed 620 per cent in the past decade. It now has more than 1,060 satellites in orbit, which is 875 more than it had in 2015. Of this array of satellites, more than 510 can perform ISR for the People's Liberation Army ( PLA ) using a range of optical, multispectral, radar or radiofrequency sensors. Live Events Such a satellite network can comb the Earth's surface looking for American aircraft carriers, air wings or other expeditionary assets, for example. A significant example of such an ISR satellite is the remote-sensing TJS-12 launched into geosynchronous Earth orbit (GEO) in December 2024. The US Space Force claimed, "The satellite could allow China to persistently monitor US and allied forces in the Pacific region." Dr Andrew Erickson, Professor of Strategy at the US Naval War College, commented, "Of fundamental concern is the sheer number of satellites China now has in orbit, particularly for ISR, as part of its systematically building out a comprehensive, capable reconnaissance-strike complex." To rival the likes of Starlink, China is also creating a proliferated constellation of G60 communications satellites in low Earth orbit (LEO). By early 2025, 72 were already orbiting the Earth, with 648 expected by year's end. Later, by 2030, a planned 14,000 of these communications satellites will be encircling the Earth. Another Chinese company, the China Satellite Network Group, launched ten communications satellites in 2024, the first of a planned proliferated LEO constellation of 13,000 satellites. Incidentally, after observing Ukraine's use of Starlink in its war against Russia, China is concerned about that network and SpaceX 's relationship with the US government. It fears, perhaps in an overreaction, that these satellites could transmit data and engender new combat styles for the USA. Weapon targeting is another critical utilisation of Chinese space-based assets. Concernedly, the US military stated, "China's improving space-based capabilities combine with the PLA's growing arsenal of long-range precision weapons to enable long-range precision strikes against US and allied forces." In 2015, China publicly announced space was "a new domain of warfare". At that time, it organised space capabilities under the newly formed PLA Strategic Support Force, although this was duly dissolved on 19 April 2024. For managing space assets, it was superseded by the PLA Aerospace Force , whose purpose is leveraging outer space for warfare - such as providing imagery, performing reconnaissance, collecting intelligence, enhancing the accuracy of strikes, and enhancing communications - as well as denying space to adversaries. The importance of the Aerospace Force is seen in the fact that it is directly subordinated to the Central Military Commission (CMC), the highest military body in China. John Costello, writing an assessment for The Jamestown Foundation think tank in the USA, said the Aerospace Force does not strictly align with the PLA's regional theatre command construct. This indicates its strategic and functional mission, he asserted. The PLA Aerospace Force has seven primary "space bases", complemented by various bureaus and specialised centres that assure and support space missions. The seven bases are as follows, and their names speak to the type of missions the force performs. Base 23 is the China Satellite Maritime Tracking and Control Department in Jiangsu Province. Base 25 is the Taiyuan Satellite Launch Centre in the mountains of Shanxi Province, and Base 26 is the Xi'an Satellite Control Centre in Shaanxi Province. Base 27 is the Xichang Satellite Launch Centre in Sichuan Province, whereas Base 35 is the newly formed Battlefield Environment Support Base in Wuhan. Base 36 is Kaifeng Base in Henan Province, and it appears focused on space equipment research and development, testing and evaluation, according to Costello. Finally, Base 37 is the Early Warning Base in Lintong, Shaanxi Province. Its mission is space situational awareness, missile early warning and tracking space debris and satellites. Base 37 is thus in charge of several large phased-array radar sites across China to provide an overall picture of space activity and to detect foreign ballistic missiles. Costello commented, "The establishment of the PLA Aerospace Force is more than an administrative reform. It is a strategic statement about how the PRC views the role of space in modern military competition. In Chinese military literature, space is frequently referred to as the 'commanding heights' of future warfare, and the Aerospace Force's creation demonstrates the PLA's resolve to secure that high ground." Costello discerned several implications about China's space warfare intentions. One is that space is integral to PLA operations. "By placing all military space capabilities under one service, the PLA seeks to ensure that space assets can be centrally managed and rapidly brought to bear in a conflict. As with the parallel Cyberspace Force and Information Support Force, the Aerospace Force is a bellwether of conflicts Beijing is preparing for." If China ever invades Taiwan, for instance, then the force would play a pivotal role from the outset. The PLA would attempt to secure space for its own use whilst simultaneously denying it to others. As Costello observed, "This reflects their doctrinal view that the US military heavily relies on satellite capabilities, succinctly captured in the phrase 'no satellite, no fight'." Of course, reliance on space is a double-edged sword, for as China enhances its own capabilities, it becomes vulnerable to enemy action too. The author noted, "During initial phases of a conflict, the Aerospace Force would deploy navigation satellites to guide precision missile strikes, use ISR satellites for target acquisition, and employ anti-satellite (ASAT) weapons to disable or destroy enemy command, control, communication, computer, intelligence, surveillance and reconnaissance capabilities." The second implication highlighted by Costello is that the Aerospace Force "provides centralised space intelligence and attack capabilities, unencumbered by inter-service rivalries. Its technical reconnaissance satellites and the processing centres that interpret their data are unified, theoretically enabling faster targeting cycles and a more complete situational picture for decision-makers." Thirdly, the writer contended that the Aerospace Force "emphasises space control and counter-space". Its broad mission set encompasses space combat, and the PLA is becoming bolder and more provocative in its space behaviour. Costello added, "With the Aerospace Force in charge, such activities (e.g., closely shadowing foreign satellites and testing co-orbital inspector satellites that could double as weapons) may further intensify under a clear military chain of command." Indeed, it is worth exploring this topic of counter-space further. China, although claiming its space activities have peaceful intent, is undoubtedly pursuing the ability to degrade or deny the use of space to countries like the USA. The US Space Force assessed, "Intelligence suggests the PLA likely sees counter-space operations as a means to deter and counter US military intervention in a regional conflict. Moreover, PLA academics stress the necessity of 'destroying, damaging and interfering with the enemy's reconnaissance... and communications satellites' to 'blind and deafen the enemy'." China has already demonstrated its ASAT proclivities. In 2007 it shot down a defunct weather satellite in LEO, creating streams of unwanted debris that will remain in space for decades to come. The Pentagon assessed, "That missile evolved into an operational ground-based system intended to target LEO satellites. The PLA actively trains on this system today." Furthermore, China intends fielding ASAT weapons with far greater reach, extending even to GEO satellites 36,000km away. In fact, China launched a ballistic object in 2013 that peaked at 30,000km, which is suggestive that China already possesses such a capability. This means practically no satellite is safe from China's reach. In addition, China has developed and is experimenting with inspection and repair systems that could function as weapons. For example, in January 2022 the Shijian-21 satellite moved a derelict BeiDou navigation satellite into a graveyard orbit above GEO. The US noted, "This technology could be used in future systems to grapple other satellites." US officials have described some radical Chinese satellite manoeuvres as "dogfighting" in space. Such manoeuvrable objects could approach an adversary's satellites and physically interfere with, damage or dazzle them. Indeed, multiple Chinese SJ- and TJS-series experimental satellites have been observed conducting unusual, large and rapid manoeuvres. As just one example, a TJS-2 satellite was tracked maneuvering at a rapid speed of 44m/s. China may be learning to refuel satellites too. The US-based Centre for Strategic and International Studies (CSIS) acknowledged, "China continues to launch and operate highly manoeuvrable satellites, demonstrating an advanced level of technological and operational acumen that, if not already deployed for such purposes, could enable a formidable on-orbit counter-space arsenal. Through the use of these satellites, Chinese operators are gaining experience in developing tactics and procedures that can be used for space warfighting, to include both defensive and offensive advanced space operations." Erickson pointed out too, "While America and its allies have capable countermeasures of their own, it is no longer credible to claim that Beijing may lack essential architecture for targeting its long-range precision strike systems, which include the world's most numerous conventional ballistic and cruise missiles." On the ground, China also has multiple laser weapons able to target sensors on enemy satellites. The US Space Force warned, "By the mid- to late 2020s, they could have higher-power systems able to damage satellite structures." As well, PLA military exercises routinely rehearse employing jammers against space-based communications, radars and navigation systems like GPS. Notably, the US said in its April report, "Intelligence suggests the PLA may be developing jammers to target satellite communications over a range of frequencies, including US military protected extremely high-frequency systems." Returning to Costello's implications of the PLA Aerospace Force's growing capabilities, he highlighted the organization's technological advancements. "The Aerospace Force is able to champion cutting-edge technologies vital for the next generation of warfare. Whether deploying satellite constellations for global surveillance, developing directed-energy weapons to target satellites, or fielding rapid-launch 'responsive space' capabilities, the Aerospace Force provides a focused command to drive these projects." The aforementioned laser ASATs are one example of this. Another instance of advancing technologies is China's three reusable spaceplane launches to date. The first stayed in orbit just two days, but the second and third remained in space for approximately nine months each. The US pointed out that they released "unidentified objects". Simultaneously, China "has made significant strides in developing reusable space launch vehicles". This includes a successful 12km-high vertical-take-off-and-landing test done last year. Reusable rockets are a key technology for meeting China's proliferated LEO constellation plans. Although China is weak in terms of globally spread ground-based space situational awareness sensors - particularly because it does not have the global heft or international alliances to host such stations as the USA does - it has at least ten space-based space situational awareness satellites that do the same job. Chinese government statements conceal the true purposes of its innumerable satellites, especially the more esoteric ones. However, it is clear that Xi and the PLA are reaching upwards to dominate space in times of peace and of war. After all, whoever controls space controls the initiative in war. Economic Times WhatsApp channel )
Business Wire
2 days ago
- Business
- Business Wire
The GEO Group Amends Senior Revolving Credit Facility
BOCA RATON, Fla.--(BUSINESS WIRE)-- The GEO Group, Inc. (NYSE: GEO) ('GEO' or the 'Company') announced today the closing of an amendment to the Company's Credit Agreement dated as of April 18, 2024 (the 'Amendment'). The Amendment increases GEO's Revolving Credit Facility (the 'Revolver') commitments from $310 million to $450 million and extends the Revolver's maturity to July 14, 2030. The Amendment further provides that interest will accrue on outstanding revolving credit loans at a rate determined with reference to the Company's total leverage ratio. As of today, revolving credit loans accruing interest at a SOFR based rate would accrue interest at the term SOFR reference rate for the applicable interest period plus 2.75% per annum, which is lower by 0.50% from the applicate rate prior to the Amendment. The Amendment also increases GEO's capacity to make restricted payments over the next five years. Prior to the closing of the Amendment, GEO repaid $132 million of the Term Loan B outstanding under the Credit Agreement. Further, as previously disclosed, GEO expects to use net proceeds from the sale of the GEO-owned Lawton Correctional Facility in Oklahoma, which is expected to close on July 25, 2025, to pay off additional senior secured debt, including the remaining balance of the Term Loan B outstanding under the Credit Agreement. These two transactions are expected to reduce GEO's total net debt to approximately $1.47 billion and position GEO to consider potential future capital returns. George C. Zoley, Executive Chairman of GEO, said, 'We are pleased with this recent amendment to upsize and extend our Revolving Credit Facility, which is an important step to position our Company to consider potential future capital returns and support our future financial needs. This transaction also shows the growing support we are receiving from our existing and new banking partners. Our management team and Board of Directors remain focused on the disciplined allocation of capital to enhance long-term value for our shareholders.' About The GEO Group The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO's diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO's worldwide operations include the ownership and/or delivery of support services for 98 facilities totaling approximately 77,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 19,000 employees. Use of forward-looking statements This news release may contain 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO's filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.
Malaysian Reserve
5 days ago
- Business
- Malaysian Reserve
66degrees Announces the Appointment of Brian Gregory as Chief Technology Officer
CHICAGO, July 10, 2025 /PRNewswire/ — 66degrees, a leading in AI, data, and cloud consultancy, today announced the appointment of Brian Gregory as its Chief Technology Officer (CTO). Gregory joins 66degrees following an extraordinary eight year journey at Google Cloud, where he led global strategic partnerships spanning Alphabet—including initiatives across GEO, Android, X (Moonshot Factory), and more. In this role, he helped transform some of Google's most strategic customers and, in so doing, played a pivotal role in scaling Google Cloud from a ~$4 billion business in 2017 to a ~$49 billion annual run rate in 2025. As Chief Technology Officer at 66degrees, Gregory will be responsible for advancing the company's technology vision and delivery strategy—driving innovation, enabling multi-million-dollar enterprise programs, and unlocking new levels of client value and business transformation. 'It brings me great joy to welcome Brian Gregory as our Chief Technology Officer,' said Ben Kessler, CEO of 66degrees. 'Brian brings a unique blend of deep technical expertise, visionary thinking, and a builder's mindset. He is the perfect addition to our leadership team that helps 66degrees further expand our capabilities in AI, data, and next-gen cloud architecture. His experience transforming some of the world's most strategic customers makes him uniquely suited to help us deepen our impact, drive innovation, and unlock our next chapter of growth—for our clients and our teams.' In his role leading strategic partnerships at Google, Gregory helped transform Google's most strategic customers by helping them to disrupt industries, accelerate innovation, and bring new products to market faster than ever before. Prior to Google, Gregory held senior technology leadership roles at Express Scripts, Peabody Energy, and CenturyLink, where he led large-scale modernization and innovation initiatives across Fortune 100 environments. 'Joining 66degrees as Chief Technology Officer is an opportunity to build something extraordinary,' said Brian Gregory. 'This team is uniquely positioned at the intersection of AI, data, and cloud—where the most meaningful transformation is happening. I'm here to help push boundaries, lead with purpose, and work alongside clients to create the kind of impact that redefines how businesses compete, grow, and serve their customers. I'm deeply grateful for my journey at Google and energized by the road ahead.' About 66degrees66degrees is a leading consultancy specializing in helping clients shape the future of work by transforming customer experiences and business operations through innovative AI, Data, and Cloud solutions. With unmatched engineering capabilities, global teams spanning both hemispheres, and industry expertise in HCLS, Retail, Banking, and Supply Chain, 66degrees helps clients transform into AI-enabled enterprises and become market leaders. Learn more at
Yahoo
6 days ago
- Business
- Yahoo
GEO Group to Acquire San Diego Detention Facility for $60M
The GEO Group Inc. (NYSE:GEO) is one of the most promising stocks according to Wall Street analysts. On July 1, the GEO Group announced that it entered into a purchase agreement to acquire the 770-bed Western Region Detention Facility in San Diego, California, for $60 million. GEO currently leases this facility for ~$5.1 million annually, with the existing lease agreement set to expire on March 31, 2029. The San Diego Facility generates ~$57 million in annualized revenues for GEO, through an exclusive contract with the US Marshals Service. The acquisition of the San Diego Facility is anticipated to close on July 31 this year. The purchase is expected to be funded as a like-kind real estate property exchange using proceeds from the previously announced sale of the GEO-owned Lawton Correctional Facility in Oklahoma. The sale of the Lawton Facility is projected to close on July 25. Security guards in uniforms patrolling an area, standing for the company's safe and secure facilities. Following the completion of both the Lawton Facility sale and the San Diego Facility purchase, GEO expects to have ~$222 million in net proceeds. These proceeds are intended to be used for paying off senior secured debt, which includes about $300 million in floating-rate debt. The GEO Group Inc. (NYSE:GEO) owns, leases, operates, and manages secure facilities, processing centers, and community-based reentry facilities in the US, Australia, the UK, and South Africa. While we acknowledge the potential of GEO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
