Shares of GEO Group Inc (GEO) surged 5.29% in pre-market trading on Thursday following the release of its impressive third-quarter 2025 financial results and an announcement of an increased share repurchase program.

The company reported Q3 revenue of $682.3 million, surpassing the analyst consensus estimate of $661 million. Adjusted net income for the quarter came in at $35 million, or $0.25 per diluted share, beating the expected $0.23 per share. This represents a significant improvement from $0.21 per share in the same period last year. The strong performance was partly driven by new or expanded contracts, which added over $460 million in new annualized revenues.

In a move that further boosted investor confidence, GEO Group's Board of Directors increased the company's share repurchase authorization to $500 million, extending the program's expiration date to December 31, 2029. The company also reported a substantial gain from asset divestitures, contributing to a net income of $173.9 million for the quarter. Looking ahead, GEO Group provided a positive outlook for the full year 2025, expecting revenue of approximately $2.6 billion and adjusted EBITDA between $455 million and $465 million. These factors combined to drive the stock's pre-market rally as investors responded positively to the company's financial strength and shareholder-friendly actions.