Welcome to our dedicated page for Service Corporation International news (Ticker: SCI), a resource for investors and traders seeking the latest updates and insights on Service Corporation International stock.
Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of funeral, cemetery, and cremation services. The company operates an extensive network with over 1,480 funeral service locations and nearly 490 cemeteries across 44 U.S. states, eight Canadian provinces, the District of Columbia, and Puerto Rico as of December 31, 2023.
SCI's business is segmented into funeral services and cemetery operations. Through these segments, the company provides a comprehensive range of services including professional funeral and cremation services, cemetery property, memorial markers, and graveyard services. The company’s well-known Dignity Memorial® brand is recognized for its high-quality and compassionate service, fulfilling the diverse needs of over 600,000 families annually.
Recently, SCI reported strong financial performance. For the fourth quarter of 2023, the company achieved adjusted earnings per share of $0.89 and net cash provided by operating activities of $220 million, largely driven by a 9% increase in preneed cemetery sales. The company's strategic focus on revenue growth, leveraging its scale, and prudent capital allocation continues to enhance shareholder value.
SCI's financial stability is further evidenced by its updated guidance for the full year of 2024. The company expects to maintain its long-term growth framework with anticipated earnings per share growth of 8%-12%, even after accounting for economic challenges such as higher interest rates.
The company’s leadership attributes these successes to their dedicated workforce of 25,000 associates who uphold the highest standards in service excellence. SCI's ongoing projects include expanding their digital investments to optimize customer experience and support preneed sales growth. These initiatives are part of SCI's long-term strategy to remain a leader in the deathcare industry.
For more information about Service Corporation International, please visit www.sci-corp.com. To learn more about Dignity Memorial®, visit www.dignitymemorial.com.
Service International (NYSE: SCI) has announced a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on December 31, 2024 to shareholders of record as of December 13, 2024. The company, North America's largest deathcare products and services provider, plans to continue regular quarterly dividends, subject to Board approval and financial performance review.
Service International (NYSE: SCI) reported Q3 2024 financial results with revenue growth of $12.1 million compared to Q3 2023. The company achieved earnings per share of $0.81 and adjusted EPS of $0.79. Operating cash flow increased 16% to $263.8 million. Notable highlights include a 2.1% growth in comparable core funeral sales average and significant acquisition activity, investing $123 million to add 10 funeral homes and 2 cemeteries. For Q4 2024, SCI projects adjusted EPS of $1.00-$1.10, and has revised its full-year 2024 adjusted operating cash flow guidance to $940-$960 million.
Service International (NYSE: SCI) has announced its schedule for the Third Quarter 2024 Earnings Release and Conference Call. The company plans to issue a press release with financial results on Wednesday, October 30, 2024. A conference call will follow on Thursday, October 31, 2024, at 8:00 a.m. Central Time.
Interested parties can participate in the call by dialing (888) 317-6003 (US) or (412) 317-6061 (International) using the code 8508625. Alternatively, a live webcast will be available on the company's website. A replay of the call will be accessible until November 7, 2024, and the webcast will remain available for at least 90 days on the SCI website.
Service International (NYSE: SCI) announced leadership promotions among its executive officers, effective October 1, 2024. Steven A. Tidwell, Senior VP of Sales and Marketing, will step down to become Special Advisor to the CEO. Sumner J. Waring, III has been promoted from COO to President, taking over sales and marketing responsibilities. John Faulk has been promoted to Senior VP and COO. Eric D. Tanzberger has been promoted to Executive VP and CFO, overseeing business development. Aaron G. Foley has been promoted to Senior VP and Treasurer, overseeing accounting, tax, and risk assurance.
These promotions are part of SCI's succession planning to support long-term growth. The company, headquartered in Houston, Texas, is North America's leading provider of deathcare products and services, operating 1,490 funeral homes and 492 cemeteries across 44 states, eight Canadian provinces, DC, and Puerto Rico as of June 30, 2024.
Service International (NYSE: SCI) has successfully completed a public offering of $800 million in 5.750% Senior Notes due 2032. The offering was made through an underwritten public offering under an effective shelf registration statement filed with the SEC. The company plans to use the net proceeds to repay outstanding loans under its revolving credit facility and cover related fees, interest, and expenses. Wells Fargo Securities acted as the lead joint book-running manager for the offering.
Service International (NYSE: SCI) has announced the pricing of an underwritten public offering of $800 million aggregate principal amount of 5.75% Senior Notes due 2032. The offering is expected to close on September 17, 2024, subject to customary closing conditions. Wells Fargo Securities is acting as the lead joint book-running manager for the offering.
The company plans to use the net proceeds to repay outstanding loans under its revolving credit facility and cover related fees, interest, and expenses. The offering is being made through an effective shelf registration statement filed with the SEC. Interested parties can obtain the prospectus supplement and accompanying base prospectus from Wells Fargo Securities or the SEC website.
Service International (NYSE: SCI) has announced its intention to offer $800 million in senior notes through an underwritten public offering. The company plans to use the net proceeds to repay outstanding loans under its revolving credit facility and cover related fees, interest, and expenses. Wells Fargo Securities will serve as the lead joint book-running manager for the offering.
The offering will be conducted through an effective shelf registration statement filed with the SEC. Interested parties can obtain the prospectus supplement and accompanying base prospectus from Wells Fargo Securities or the SEC website. This press release does not constitute an offer to sell or purchase securities, and the notes will only be offered through the official prospectus supplement.
Service International (NYSE: SCI), North America's largest deathcare products and services provider, has announced a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on September 30, 2024 to shareholders of record as of September 13, 2024. While SCI intends to continue regular quarterly dividends, future payments are subject to the Board of Directors' final determination after reviewing the company's financial performance. This announcement demonstrates SCI's commitment to providing shareholder value and maintaining a consistent dividend policy.
Service International (NYSE: SCI), North America's largest deathcare provider, reported Q2 2024 results. Revenue grew $20.6 million to $1,034.0 million, while earnings per share decreased to $0.81 from $0.86 in Q2 2023. Adjusted EPS was $0.79, down from $0.83. Net cash from operations excluding special items increased to $219.9 million from $157.4 million.
Despite revenue growth, SCI faced challenges with a decline in funeral services performed. The company maintains its 2024 outlook but expects results at the lower end of the $3.50-$3.80 adjusted EPS guidance range. SCI reiterates its adjusted operating cash flow guidance of $900-$960 million for 2024.
Service International (NYSE: SCI) has announced its schedule for the second quarter 2024 earnings release and conference call. The company plans to issue a press release with financial results on Wednesday, July 31, 2024. A conference call hosted by SCI Management will follow on Thursday, August 1, 2024, at 8:00 a.m. Central Time.
Investors and analysts can participate in the call by dialing (866) 605-3851 or (412) 317-6061 for international callers, using the code 5532566. Alternatively, the call can be accessed via live webcast on the company's website. A replay will be available until August 8, 2024, and the webcast will be accessible for at least 90 days on SCI's website.
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