Core Insights - Service Corporation International (SCI) reported third-quarter 2024 results with both top and bottom lines showing year-over-year growth [1][4] - The company is optimistic about funeral revenues due to a new marketing partnership with a preferred preneed insurance provider launched in Q3 [1][3] - Total revenues reached $1,014 million, up from $1,001.9 million in the same quarter last year, exceeding the Zacks Consensus Estimate of $1,012 million [5] Financial Performance - Adjusted earnings per share (EPS) were 79 cents, consistent with the Zacks Consensus Estimate and an increase from 78 cents in the prior year [4] - Gross profit was $252.3 million, slightly down from $253.7 million year-over-year, with corporate general and administrative costs rising to $43.7 million from $33.2 million [5][6] - Operating income decreased to $212.4 million from $223 million in the previous year [6] Segment Performance - Consolidated funeral revenues increased to $566 million from $554.8 million, with a 1.3% rise in total comparable funeral revenues [7] - Core funeral revenues grew by 1%, supported by a 2.1% increase in core average revenues, despite a 1.1% decline in core funeral services performed [8] - Consolidated cemetery revenues were $448 million, slightly up from $447.1 million, with total comparable cemetery revenues remaining flat year-over-year [10] Strategic Initiatives - The company invested $123 million to acquire 10 funeral homes and two cemeteries, along with an additional $31 million for real estate transactions [2] - For 2025, SCI aims to return to its long-term growth target of 8-12%, focusing on revenue growth and strategic capital investments [3] Future Outlook - For Q4 2024, management anticipates adjusted EPS of $1-$1.10, indicating an 8-18% growth from the previous year's 93 cents [13] - Full-year 2024 adjusted EPS is expected to be in the range of $3.47-$3.57, revised from the previous guidance [15] - The company raised its full-year 2024 adjusted operating cash flow guidance midpoint from $930 million to $950 million, with total maintenance capital expenditures expected to be around $325 million [16]

Financial Performance - For the quarter ended September 2024, Service Corp. reported revenue of $1.01 billion, reflecting a year-over-year increase of 1.2% [1] - Earnings per share (EPS) for the quarter was $0.79, slightly up from $0.78 in the same quarter last year [1] - The reported revenue met the Zacks Consensus Estimate of $1.01 billion, resulting in a surprise of +0.16% [1] - The company did not deliver an EPS surprise, as the consensus EPS estimate was also $0.79 [1] Key Metrics - Total comparable funeral average revenue per service was $5,669, slightly below the two-analyst average estimate of $5,683.42 [3] - Funeral services performed totaled 85,743, exceeding the average estimate of 84,223 based on two analysts [3] - Cemetery revenues reached $448 million, compared to the three-analyst average estimate of $455.50 million, representing a year-over-year change of +0.2% [3] - Funeral revenues amounted to $566 million, surpassing the three-analyst average estimate of $556.86 million, with a year-over-year change of +2% [3] - Gross profit from funeral services was $107.90 million, exceeding the average estimate of $104.04 million [3] - Gross profit from cemetery services was $144.80 million, below the average estimate of $149.38 million [3] Stock Performance - Shares of Service Corp. have returned -2.4% over the past month, while the Zacks S&P 500 composite has increased by +1.8% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]

分组1 - Service Corp. reported quarterly earnings of $0.79 per share, matching the Zacks Consensus Estimate, and showing a slight increase from $0.78 per share a year ago [1] - The company posted revenues of $1.01 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.16%, compared to $1 billion in revenues a year ago [2] - Service Corp. shares have increased approximately 11.7% since the beginning of the year, while the S&P 500 has gained 22.3% [3] 分组2 - The earnings outlook for Service Corp. is mixed, with the current consensus EPS estimate for the coming quarter at $1.05 on revenues of $1.09 billion, and $3.52 on revenues of $4.18 billion for the current fiscal year [7] - The Funeral Services industry, to which Service Corp. belongs, is currently ranked in the bottom 11% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Insights - Service Corporation International (SCI) reported a revenue increase of $12.1 million in Q3 2024 compared to Q3 2023, reaching $1,014.0 million [2][6] - The diluted earnings per share rose to $0.81 from $0.80 year-over-year, while adjusted earnings per share increased to $0.79 from $0.78 [2][8] - Net cash provided by operating activities grew by 16% to $263.8 million, up from $227.8 million in the prior year [2][8] Financial Performance - Revenue for the nine months ended September 30, 2024, was $3,093.4 million, compared to $3,044.0 million in the same period of 2023 [6] - Operating income for Q3 2024 was $212.4 million, down from $223.0 million in Q3 2023 [6] - Net income attributable to common stockholders was $117.8 million in Q3 2024, compared to $122.0 million in Q3 2023 [6] Cash Flow and Investments - Net cash provided by operating activities excluding special items increased by 18% to $269.0 million in Q3 2024 [2][8] - The company spent $123 million on acquisitions during the quarter, significantly higher than $33 million in Q3 2023, acquiring 10 funeral homes and 2 cemeteries [4][5] - The company also invested $31 million in real estate transactions for the expansion of funeral homes and cemeteries [4] Market Outlook - For Q4 2024, the company expects adjusted earnings per share to be between $1.00 and $1.10, indicating growth of approximately 8-18% compared to $0.93 in Q4 2023 [9] - The full-year 2024 adjusted operating cash flow guidance has been raised to a range of $940 million to $960 million, up from the previous range of $900 million to $960 million [10][11] - The company aims to return to the high end of its long-term growth framework of 8-12% in 2025 [5]

Company Overview - Service Corporation International (SCI) is North America's leading provider of funeral, cemetery, and cremation services, serving over 600,000 families annually [2] - As of September 30, 2024, SCI operates 1,495 funeral service locations and 494 cemeteries across 44 states, eight Canadian provinces, the District of Columbia, and Puerto Rico [2] Upcoming Financial Results - SCI is set to release its financial results for the third quarter of 2024 on October 30, 2024 [1] - A conference call will be held on October 31, 2024, at 8:00 a.m. Central Time to discuss these results [1] Conference Call Details - Dial-in numbers for the conference call are (888) 317-6003 for domestic callers and (412) 317-6061 for international callers, with the code 8508625 [1] - A replay of the call will be available until November 7, 2024, and the webcast will be accessible for at least 90 days on SCI's website [2]

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 ...