GEO Group secures a five-year support services deal with U.S. Immigration and Customs Enforcement, lifting shares in pre-market trading.
GEO Group shares climbed 0.83% to $30.99 in pre-market trading after announcing a new five-year support services contract with U.S. Immigration and Customs Enforcement (ICE). The deal reinforces the company’s role in federal detention and operations services.
Prior to the announcement, GEO’s stock had faced volatility amid broader sector scrutiny. The contract follows a period of mixed performance for private prison operators, with regulatory and policy shifts influencing investor sentiment.
The immediate market reaction saw modest gains, reflecting cautious optimism about the company’s revenue stability.