Service International(US:SCI) Prnewswireยท2024-10-30 20:20Core 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]