Core Insights - SCI Capital Partners LP has closed a structured continuation vehicle transaction with Apollo Funds to support the growth of Morton Salt and Reddy Ice, with SCI maintaining control over both companies [1][2] Group 1: Company Overview - Morton Salt is the largest pure-play salt company globally, with a 175-year history and strong positions in various end markets and salt categories [3] - Reddy Ice is the largest packaged ice manufacturer in the U.S., with diversified sales channels and a significant installed base of machines across different geographies [3] - Reddy Ice has made its first international acquisition of Fábrica de Hielo Apodaca, S.A. de C.V., the largest ice manufacturer in Mexico [3] Group 2: Strategic Partnerships - Apollo Funds provided support through a syndicate of new institutional investors, enhancing the strategic and operational expertise available to SCI [2][4] - SCI's Managing Partner expressed optimism about collaborating with Apollo to execute long-term strategic plans for Morton Salt and Reddy Ice [4] - Apollo representatives highlighted the potential for long-term growth in Morton Salt and Reddy Ice, emphasizing a partnership-oriented approach to capital solutions [4] Group 3: Financial Advisory and Support - PJT Partners acted as financial advisor, while Gibson Dunn and Ernst & Young provided legal and tax advisory services to SCI [4] - UBS Investment Bank and Proskauer Rose LLP served as financial and legal advisors to the Apollo Funds [4] Group 4: Company Profiles - SCI Capital Partners LP focuses on market-leading companies in essential industries, aiming to build industrial companies with high barriers to entry [5] - Apollo is a global alternative asset manager with approximately $696 billion in assets under management as of June 30, 2024, providing innovative capital solutions for growth [6]

HOUSTON, Aug. 7, 2024 /PRNewswire/ -- Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, today announced that its Board of Directors has approved a quarterly cash dividend of thirty cents per share of common stock. The quarterly cash dividend announced today is payable on September 30, 2024 to shareholders of record at the close of business on September 13, 2024. While the Company intends to pay regular quarterly cash dividends for the fo ...

Service Corporation International (SCI) posted second-quarter 2024 results, with the top line increasing year over year and beating the Zacks Consensus Estimate. However, the bottom line declined year over year and missed the consensus mark. Quarter in Detail SCI posted adjusted earnings of 79 cents per share, which missed the Zacks Consensus Estimate of 86 cents. The metric declined from the year-ago quarter's earnings of 83 cents. While increased gross profit from the cemetery segment and a lower share co ...

For the quarter ended June 2024, Service Corp. (SCI) reported revenue of $1.03 billion, up 2% over the same period last year. EPS came in at $0.79, compared to $0.83 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.01 billion, representing a surprise of +2.06%. The company delivered an EPS surprise of -8.14%, with the consensus EPS estimate being $0.86. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street exp ...

Service Corp. (SCI) came out with quarterly earnings of $0.79 per share, missing the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -8.14%. A quarter ago, it was expected that this funeral home and cemetery operator would post earnings of $0.85 per share when it actually produced earnings of $0.89, delivering a surprise of 4.71%. Over the last fou ...

Core Insights - Service Corporation International (SCI) reported a revenue increase of $20.6 million in Q2 2024 compared to Q2 2023, reaching $1,034 million [1][2] - Earnings per share (EPS) decreased to $0.81 from $0.86 year-over-year, while adjusted EPS was $0.79 compared to $0.83 in the prior year [1][2] - Net cash provided by operating activities rose to $196.9 million from $144.1 million in the same quarter last year, with adjusted operating cash flow increasing to $219.9 million from $157.4 million [1][2] Financial Performance - Revenue for the first half of 2024 was $2,079.4 million, slightly down from $2,042.1 million in the first half of 2023 [2] - Operating income for Q2 2024 was $220.8 million, down from $233.5 million in Q2 2023 [2] - Net income attributable to common stockholders was $118.2 million in Q2 2024, compared to $132.2 million in Q2 2023 [2] Cash Flow and Capital Allocation - The company generated strong cash flow from operations, allowing for reinvestment and capital return to shareholders through share repurchases and dividends [1][2] - Capital expenditures for 2024 are projected at $325 million, including $125 million for maintenance and $165 million for cemetery development [4] Outlook for 2024 - The company expects full-year adjusted EPS to be at the lower end of the guidance range of $3.50 to $3.80 due to lower-than-expected funeral services performed [3][4] - The midpoint of the adjusted cash flow from operations guidance is reiterated at $900 million to $960 million [3][4] Operational Highlights - Comparable core preneed funeral sales production increased by $9.7 million, or 4.0%, in the current quarter [1] - The average revenue per funeral service rose to $5,636, up from $5,568 in the previous year [13]

Core Insights - Service Corporation International (SCI) has a trailing four-quarter earnings surprise of 6.1% on average and delivered a 4.7% earnings surprise in the last reported quarter [1][2]. Financial Performance - The Zacks Consensus Estimate for SCI's quarterly revenues is pegged at $1.01 billion, indicating a slight decline from the prior-year quarter's reported figure [12]. - The consensus estimate for quarterly earnings has remained unchanged at 86 cents per share, suggesting a year-over-year growth of 3.6% [7]. - The Cemetery segment is expected to generate revenues of $456.2 million, reflecting a 1.8% increase compared to the same quarter last year [8]. Market Conditions - Adverse impacts from moderation in consumer discretionary spending amid an inflationary environment and higher interest rates pose threats to the company's performance [2]. - The company carries a Zacks Rank of 3 and has an Earnings ESP of 0.00%, indicating no clear prediction for an earnings beat this time [3][9]. Comparisons with Other Companies - Clorox (CLX) is expected to report a decline in both top and bottom lines, with quarterly revenues estimated at $1.97 billion, a 2.4% decrease from the prior-year quarter [4]. - Coty (COTY) has a positive Earnings ESP of +22.73% and is expected to see a 400% surge in earnings compared to the year-ago quarter [10]. - Procter & Gamble (PG) is likely to register top-line growth with a consensus revenue estimate of $20.72 billion, suggesting a 0.8% increase from the previous year [17].

D-Keine One company that will always have a special place in my heart is Service Corporation International (NYSE:SCI). Even though it may seem odd for a funeral home and cemetery owner/operator to strike an emotional chord with someone, the company was not only one of the first five firms that I ever bought shares in, it was also the subject of a major research report that I wrote in graduate school. The last article that I wrote about the company was published approximately one year ago, in July of 2023. A ...

Service Corporation International (SCI) appears poised for growth due to strength in its Cemetery segment and its focus on expansion. Shares of this provider of deathcare products and services have risen 9.1% in the past six months compared with the industry's growth of 5.7%. Service Corporation has been seeing a rise in Cemetery segment revenues for a while now. In the first quarter of 2024, consolidated Cemetery revenues came in at $440.6 million, up from $419 million reported in the year-ago quarter. Com ...

What: Service Corporation International Second Quarter 2024 Earnings Conference Call (877) 344-7529, International callers at (412) 317-0088, Code – 4764590 available through August 8, 2024, and the webcast for at least 90 days through our website at www.sci-corp.com in the Investors section under "Webcasts and Events" SOURCE Service Corporation International When: Thursday, August 1, 2024, at 8:00 a.m. Central Time Contact: Sandy Bobo at (713) 525-5395 HOUSTON, July 17, 2024 /PRNewswire/ -- Service Corpora ...