GEO Group (GEO): Sells Adelanto ICE Facilities to DHS for $950M, Boosts Buyback to $1.25B
GEO Group sold its 3 Adelanto, CA detention facilities (2,644 beds) to the U.S. government for $950M, but keeps running them under its ICE contract through 2034. Buyback authorization raised to $1.25B. Shares rose ~4% premarket. $GEO 🏢
Why it matters It matters because GEO is cashing out real estate it already owns while locking in nearly a decade more of guaranteed service revenue, cutting debt without losing the contract.
What we verified Cross-checked GEO Group's Oct 5, 2026 $950M sale of three Adelanto, CA ICE facilities to DHS, the extended service contract through Dec 2034, the $750M buyback increase to a $1.25B total, and the ~3.8% premarket stock pop via GEO's official SEC Form 8-K press release and independent stockanalysis.com market data.
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