Core Viewpoint - Service Corporation International (SCI) is set to release its financial results for the third quarter of 2025 on October 29, 2025, with a conference call scheduled for October 30, 2025 [1][5]. Company Overview - Service Corporation International, headquartered in Houston, Texas, is the leading provider of funeral, cemetery, and cremation services in North America, serving over 600,000 families annually [2]. - As of September 30, 2025, SCI operates 1,487 funeral service locations and 499 cemeteries across 44 states, eight Canadian provinces, the District of Columbia, and Puerto Rico [2]. - The company's Dignity Memorial® brand is recognized for its professionalism and compassionate service [2]. Upcoming Events - The third quarter 2025 earnings conference call will take place on October 30, 2025, at 8:00 a.m. Central Time, with dial-in options available for participants [5]. - A replay of the conference call will be accessible starting November 6, 2025, and will remain available for at least 90 days [5].

Core Viewpoint - CEL-SCI Corporation is set to present its strategic roadmap for the development of Multikine at the LD Micro "Main Event" Investor Conference on October 21, 2025 [1][2]. Company Overview - CEL-SCI Corporation is a clinical stage cancer immunotherapy company focused on enhancing the immune system's ability to target tumors before surgical interventions [3]. - The company operates in Vienna, Virginia, and near Baltimore, Maryland [5]. Product Information - Multikine (Leukocyte Interleukin, Injection) is a first-line cancer therapy that has been administered to over 740 patients and has received Orphan Drug designation from the FDA for neoadjuvant therapy in patients with squamous cell carcinoma of the head and neck [4]. - A completed randomized controlled Phase 3 study involving 928 patients has led to FDA approval for a confirmatory Registration Study, which will enroll 212 patients with newly diagnosed locally advanced resectable head and neck cancer [4]. - The target patient population for this study is approximately 100,000 patients annually, specifically those with no lymph node involvement and low PD-L1 tumor expression [4].

Core Points - Third Coast Bancshares, Inc. has been nominated for the 2025 North American Issuer of the Year by SCI, recognizing its significant securitizations and leadership in risk management innovation in the regional banking sector [1][2] - The company and EJF Capital, LLC were also nominated for North American Transaction of the Year for their innovative commercial real estate loan securitization completed in April 2025, which was the first synthetic risk transfer deal by a U.S. bank of Third Coast's asset size of $5 billion [2][3] - The CEO of Third Coast expressed pride in the nominations, highlighting the company's commitment to improving its risk profile and capital ratios through innovative capital management [3] Company Overview - Third Coast Bancshares, Inc. is a Texas-based bank holding company primarily operating in major metropolitan areas such as Greater Houston, Dallas-Fort Worth, and Austin-San Antonio through its subsidiary, Third Coast Bank [3] - The company was founded in 2008 and operates 19 branches across Texas [3] Recent Developments - Effective October 6, 2025, Third Coast Bancshares, Inc.'s common stock will transition to trading on the New York Stock Exchange under the ticker symbol "TCBX" [3]

Core Viewpoint - Service Corp. (SCI) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Service Corp. suggest an improvement in the company's underlying business, likely leading to an increase in stock price [5]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly Zacks Rank 1 stocks averaging a +25% annual return since 1988 [7]. - Service Corp.'s upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10]. Earnings Estimate Revisions for Service Corp. - For the fiscal year ending December 2025, Service Corp. is expected to earn $3.82 per share, with no year-over-year change, while the Zacks Consensus Estimate has increased by 1.5% over the past three months [8].

Core Viewpoint - Service Corp. (SCI) has shown a positive performance with a 3.4% increase in shares since the last earnings report, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1] Financial Performance - Service Corp. reported second-quarter 2025 adjusted earnings of 88 cents per share, exceeding the Zacks Consensus Estimate of 84 cents and up from 79 cents in the same quarter last year [2] - Total revenues reached $1,065.4 million, a 2.9% increase from $1,034 million in the prior year, surpassing the Zacks Consensus Estimate of $1,050 million [3] Profitability Metrics - Gross profit increased by 5% to $271.4 million from $257.9 million year over year, with gross margin expanding by 60 basis points to 25.5% [4] - Operating income rose 1.7% to $224.5 million, while operating margin contracted by 30 basis points to 21.1% [4] Segment Performance - **Funeral Operations**: Total funeral revenues were $591.4 million, exceeding the consensus estimate of $579 million, with gross profit up 15.5% to $116 million [5] - **Cemetery Operations**: Total cemetery revenues reached $474.4 million, surpassing the consensus estimate of $471 million, although gross profit decreased to $155.5 million from $157.5 million [6] Financial Health - The company ended the quarter with cash and cash equivalents of $255.4 million, long-term debt of $4.98 billion, and total equity of $1.56 billion [7] Future Guidance - For 2025, adjusted earnings per share are projected to be between $3.70 and $4.00, aligning with the company's long-term growth framework of 8% to 12% [8] - Net cash provided by operating activities is expected to be between $1,025 million and $1,085 million, with total capital expenditure forecasted at $315 million [9][10] Market Sentiment - There has been a flat trend in estimates revision over the past month, indicating stable market expectations [11] - Service Corp. holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [13]

Company Overview - FTAI Aviation focuses on narrow-body airplane parts, repair, and leasing, utilizing advanced technologies such as 3D printing to enhance its operations [1]. Investment Strategy - The investment approach involves analyzing earnings reports to identify potential growth opportunities, with successful identification of companies like OPRX, OTRK, FUBO, and PLUG during the pandemic [1].

Core Insights - The article discusses the investment potential of a specific company, highlighting its strong market position and growth prospects [1][2] Company Analysis - The company has demonstrated robust financial performance, with significant revenue growth reported in the latest quarter [1] - Key metrics indicate an increase in market share, suggesting competitive advantages over peers [1] - The management team has outlined strategic initiatives aimed at further enhancing operational efficiency and profitability [1] Industry Context - The industry is experiencing a favorable environment, driven by increasing demand and technological advancements [1] - Competitive dynamics within the industry are shifting, with emerging players posing new challenges [1] - Regulatory changes are anticipated, which may impact operational frameworks and market strategies [1]

Core Insights - The article discusses the investment potential of a specific company, highlighting its strong market position and growth prospects [1][2]. Company Analysis - The company has demonstrated consistent revenue growth, with a reported increase of 15% year-over-year, reaching $1.5 billion in total revenue [1]. - Profit margins have improved, with the latest figures showing a margin of 25%, up from 20% in the previous year [1]. - The company is expanding its market share, particularly in emerging markets, which is expected to contribute significantly to future earnings [1]. Industry Trends - The industry is experiencing a shift towards digital transformation, with companies investing heavily in technology to enhance operational efficiency [1]. - Competitive pressures are increasing, with new entrants disrupting traditional business models, necessitating innovation and adaptation from established players [1]. - Regulatory changes are anticipated, which may impact operational costs and market dynamics within the industry [1].

PART I. FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three and six months ended June 30, 2025, and 2024, including detailed notes on accounting policies and segment performance Consolidated Statement of Operations Highlights (in thousands, except EPS) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $1,065,444 | $1,034,016 | $2,139,611 | $2,079,398 | | **Operating Income** | $224,459 | $220,841 | $476,146 | $453,045 | | **Net Income** | $122,924 | $118,220 | $265,851 | $249,494 | | **Diluted EPS** | $0.86 | $0.81 | $1.84 | $1.69 | Balance Sheet Summary (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | $17,980,205 | $17,379,438 | | Preneed receivables and trust investments | $7,065,296 | $6,739,332 | | **Total Liabilities** | $16,419,852 | $15,700,769 | | Long-term debt | $4,976,111 | $4,751,448 | | **Total Equity** | $1,560,353 | $1,678,669 | Segment Gross Profit (in thousands) | Segment | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Funeral Gross Profit** | $115,977 | $100,426 | $269,955 | $232,300 | | **Cemetery Gross Profit** | $155,461 | $157,489 | $292,900 | $299,828 | | **Total Segment Gross Profit** | $271,438 | $257,915 | $562,855 | $532,128 | - The company repurchased **4,129,431 shares** of common stock for an aggregate cost of **$325.9 million** in the first six months of 2025, with **$491.8 million** remaining under the increased repurchase authorization[79](index=79&type=chunk) - Total debt increased to **$5.04 billion** as of June 30, 2025, from **$4.84 billion** at year-end 2024, with approximately **81%** at a fixed interest rate[69](index=69&type=chunk)[70](index=70&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's performance, highlighting a **$16.4 billion** backlog of future revenue from preneed sales as a key financial strength and detailing capital allocation priorities and operational results for both segments - The company's financial position is enhanced by a **$16.4 billion** backlog of future revenue from both trust and insurance-funded preneed sales as of June 30, 2025[96](index=96&type=chunk) - Capital allocation strategy prioritizes investing in acquisitions, returning excess cash to shareholders through dividends, and managing debt to maintain a target leverage ratio of **3.5x to 4.0x**[106](index=106&type=chunk)[107](index=107&type=chunk)[108](index=108&type=chunk) - The company's leverage ratio was **3.68x** as of June 30, 2025, which is within the target range and below the maximum of **5.00x** allowed per the credit agreement[103](index=103&type=chunk) [Financial Condition, Liquidity, and Capital Resources](index=27&type=section&id=Financial%20Condition%2C%20Liquidity%2C%20and%20Capital%20Resources) The company maintains adequate liquidity with **$477.6 million** in operating cash flow for the first six months of 2025 and **$1.19 billion** in borrowing capacity, supported by a growing **$16.42 billion** backlog of deferred revenue Change in Operating Cash Flow (Six Months 2025 vs 2024) | Driver | Impact (in millions) | | :--- | :--- | | Increase in cash receipts from customers | $50.3 | | Increase in General Agency (GA) commission receipts | $43.4 | | Decrease in employee compensation payments | $37.7 | | Increase in cash tax payments | ($87.4) | | **Total Increase in Operating Cash Flow** | **$60.6** | Total Backlog of Preneed Contracts (Fair Value, in billions) | Backlog Component | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Trust-funded deferred revenue | $7.99 | $7.64 | | Insurance-funded revenue | $8.43 | $8.37 | | **Total Backlog** | **$16.42** | **$16.01** | - Preneed insurance-funded sales production increased to **$402.3 million** in the first six months of 2025 from **$374.5 million** in the prior year period, driven by a significant increase in the number of contracts sold (**78,572** vs **59,923**)[120](index=120&type=chunk) - Preneed cemetery sales production grew to **$694.4 million** in the first six months of 2025, up from **$681.6 million** in the same period of 2024[123](index=123&type=chunk) [Results of Operations - Three Months Ended June 30, 2025 & 2024](index=34&type=section&id=Results%20of%20Operations%20-%20Three%20Months%20Ended%20June%2030%2C%202025%20%26%202024) For Q2 2025, net income attributable to common stockholders was **$122.9 million** ($0.86 per diluted share), driven by a **15.5%** increase in funeral segment gross profit, while cemetery gross profit slightly decreased by **1.3%** Q2 2025 Funeral Segment Performance (Comparable) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $576.8M | $561.6M | +2.7% | | Gross Profit | $114.6M | $99.8M | +14.8% | | Gross Profit % | 19.9% | 17.8% | +210 bps | | Average Revenue per Service | $5,809 | $5,634 | +3.1% | Q2 2025 Cemetery Segment Performance (Comparable) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $470.0M | $468.2M | +0.4% | | Gross Profit | $153.3M | $157.6M | -2.7% | | Gross Profit % | 32.6% | 33.7% | -110 bps | - Funeral segment revenue growth was driven by a **3.1%** increase in comparable average revenue per service, offsetting a **0.9%** decrease in services performed, with the cremation rate rising by **40 basis points** to **64.3%**[149](index=149&type=chunk) - Cemetery preneed sales production increased by **5.3%** (**$18.5 million**), expected to benefit future periods as properties are constructed and revenue is recognized[155](index=155&type=chunk) [Results of Operations - Six Months Ended June 30, 2025 & 2024](index=36&type=section&id=Results%20of%20Operations%20-%20Six%20Months%20Ended%20June%2030%2C%202025%20%26%202024) For H1 2025, net income was **$265.7 million** ($1.84 per diluted share), with funeral gross profit up **16.2%** due to revenue growth, while cemetery gross profit decreased by **$6.9 million** due to timing of revenue recognition H1 2025 Funeral Segment Performance (Comparable) | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $1,202.5M | $1,163.8M | +3.3% | | Gross Profit | $267.0M | $231.5M | +15.3% | | Gross Profit % | 22.2% | 19.9% | +230 bps | | Average Revenue per Service | $5,774 | $5,623 | +2.7% | H1 2025 Cemetery Segment Performance (Comparable) | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $902.9M | $908.9M | -0.7% | | Gross Profit | $290.1M | $300.2M | -3.4% | | Gross Profit % | 32.1% | 33.0% | -90 bps | - The increase in funeral gross profit margin was attributed to revenue growth and continued focus on managing the fixed cost structure[170](index=170&type=chunk) - The decrease in comparable cemetery revenue was primarily due to a **$14.1 million** decline in recognized preneed property revenue related to the timing of new construction, partially offset by a **$4.6 million** increase in atneed revenue[173](index=173&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section addresses the company's exposure to market risks, primarily related to changes in interest rates and the prices of marketable equity and debt securities held within the preneed trust funds - The company's primary market risk exposure stems from the equity and debt securities held in its affiliated trust funds, which are used to fund preneed operations and are sensitive to market price fluctuations[187](index=187&type=chunk)[188](index=188&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[189](index=189&type=chunk) - No changes were made during the quarter ended June 30, 2025, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[190](index=190&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 9 of the financial statements for information on legal proceedings, including ongoing unclaimed property audits by various states regarding preneed trust funds - The company is subject to unclaimed property audits from approximately **forty states** regarding the escheatment of unused preneed trust funds, with audits resolved in **eighteen states**[89](index=89&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company states that there have been no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - There have been no material changes in Risk Factors from those set forth in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024[193](index=193&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's share repurchase activities during the second quarter of 2025, where a total of **2,493,090 shares** were repurchased, primarily under the publicly announced program Share Repurchases for Q2 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 2025 | 916,075 | $77.82 | | May 2025 | 976,955 | $76.79 | | June 2025 | 600,060 | $78.77 | | **Total Q2** | **2,493,090** | **-** |

Financial Data and Key Metrics Changes - For Q2 2025, the company reported adjusted earnings per share of $0.88, an increase of over 11% compared to $0.79 in the prior year period [6] - Total comparable funeral revenue increased by over $15 million, or about 3%, compared to the prior year quarter [6] - Funeral gross profit increased by about $15 million, with the gross profit percentage rising by 20 basis points [8] Business Line Data and Key Metrics Changes - Comparable core funeral revenues increased by $8 million, or about 2%, driven by a 3.3% growth in core average revenue per service [7] - Comparable cemetery revenue increased by $2 million, or almost 1%, with core revenue up by about $1 million [10] - Preneed funeral sales production decreased by $29 million, or about 9%, primarily due to a transition to a new preneed insurance provider [9] Market Data and Key Metrics Changes - The company anticipates comparable core preneed sales production growth in 2025, despite a decrease in the first half of the year [9] - Cemetery gross profit decreased by $4 million, with the gross profit percentage declining by 110 basis points [12] - The company expects preneed cemetery sales production to grow at low to mid single-digit percentages over the prior year's six-month period [13] Company Strategy and Development Direction - The company confirmed its normalized earnings per share guidance range of $3.7 to $4 for 2025 and raised its cash flow outlook due to stronger working capital trends [12] - The company plans to invest $100 million in capital expenditures for existing locations, cemetery development, and new builds [19] - The acquisition pipeline remains optimistic, with an anticipated investment target of $75 million to $125 million for 2025 [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue and margin growth for both funeral and cemetery segments for the remainder of 2025 [12] - The company noted that cash taxes will revert to a more normalized level in 2025 compared to 2024, following a tax accounting method change [24] - Management highlighted the importance of their team in navigating challenges and providing exceptional service to customers [16][25] Other Important Information - The company returned $239 million of capital to shareholders in Q2 2025 through dividends and share repurchases [21] - Adjusted operating cash flow for the quarter was $168 million, with a significant increase in cash taxes impacting the overall cash flow [17][19] - The company ended the quarter with liquidity of about $1.4 billion, consisting of cash on hand and available credit [25] Q&A Session Summary Question: What drove the dip in the recognition rate in the current quarter? - Management attributed the dip to normal volatility in cemetery production and expects the recognition rate to improve in the second half of the year [28][30] Question: What are the expectations for the cremation rate moving forward? - Management indicated that the pace of increase in the cremation rate may moderate, with expectations adjusted to 50 to 80 basis points [32][34] Question: How will cash flow and tax benefits from the federal bill affect long-term cash taxes? - Management expects a $30 million benefit from cash taxes this year, with ongoing benefits from capital improvements [36][41] Question: What are the expectations for funeral volumes in the back half of the year? - Management noted that the third quarter will be a tougher comparison for funeral volumes, while cemetery revenues are expected to be strong [44] Question: What is the financial benefit of the shift in life insurance partner? - Management expects incremental benefits from the type of insurance products sold, with potential for a couple of points increase in production [54][56] Question: What is the outlook for preneed sales production growth? - Management expects low to mid single-digit growth in preneed sales production for both funeral and cemetery segments in the second half of the year [62][64]