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 Corporation International (NYSE: SCI) reported its fourth quarter 2022 results, with GAAP earnings per share at $0.59 and adjusted EPS at $0.92, exceeding expectations. Full year results reflect adjusted EPS of $3.80, a 26% compounded annual growth since 2019. Operating cash flow reached $826 million in 2022. Cemetery preneed sales grew 2.4%, while funeral preneed sales saw a 6.4% increase. For 2023, SCI anticipates diluted EPS guidance of $3.60, along with capital expenditures of $290-$310 million. The company invested $89 million in acquisitions, adding 14 funeral homes and 3 cemeteries.
Service Corporation International (NYSE: SCI) announced its upcoming release of fourth quarter 2022 financial results on
Service Corporation International (NYSE: SCI) has announced a new $2.175 billion unsecured credit agreement as of January 11, 2023. This agreement includes a $1.5 billion revolving credit facility and a $675 million Term Loan A, maturing in 2028. The funds will primarily be used to refinance existing credit facilities and cover related expenses. This strategic move aims to improve liquidity and financial flexibility for the Company while managing its operational costs.
Service Corporation International (SCI), North America's largest provider of funeral and cemetery services, is partnering with the Missing In America Project (MIAP) to inter the ashes of 99 unclaimed veterans. This initiative marks the largest burial in MIAP history, honoring veterans who served in various military conflicts from the Spanish-American War to Vietnam. A ceremony will take place on November 14, 2022, at Evergreen Washelli Funeral Home in Seattle, followed by interment at the Washington State Veterans Cemetery on November 16. The event is open to veterans, VSO members, and the public.
Service Corporation International (NYSE: SCI) has announced an increase in its quarterly cash dividend to $0.27 per share, reflecting an 8% increase from the previous $0.25. The dividend is payable on December 30, 2022, to shareholders of record on December 15. Additionally, the Board has authorized an increase in share repurchases by $350 million, bringing the total repurchase authority to $600 million. This move aims to enhance shareholder value while the company anticipates maintaining regular dividends in the future.
Service Corporation International (NYSE: SCI) reported its third quarter 2022 results, highlighting GAAP earnings per share (EPS) of $0.76 and adjusted EPS of $0.68. Net cash from operations was $183 million, down from $241 million year-over-year. Despite a year-over-year decline in EPS, adjusted EPS has grown 22% annually since 2019. The company raised its 2022 adjusted EPS guidance from $3.50 to $3.70. Funeral services performed increased by 5% compared to 2019, and cemetery pre-need sales rose 5% year-over-year, reflecting a steady recovery.
Service Corporation International (NYSE: SCI) will release its third-quarter 2022 financial results on November 1, 2022. A conference call will follow on November 2, 2022, at 8:00 a.m. Central Time, where management will discuss the results. Investors can access the call via a dial-in or live webcast. The company, headquartered in Houston, Texas, operates 1,463 funeral service locations and 488 cemeteries, dealing with over 600,000 families annually. For more details, visit their website.
Service Corporation International (NYSE: SCI) has announced a quarterly cash dividend of $0.25 per share, payable on September 30, 2022, to shareholders of record as of September 15, 2022. This reflects the company's commitment to returning value to shareholders. The Board of Directors will review and determine future dividends based on financial performance, indicating that while dividends are intended to remain regular, they are not guaranteed. For further insights, details are available on the company’s website.
Service Corporation International (SCI) reported its Q2 2022 results with adjusted earnings per share of $0.84, slightly down from the previous year's $0.92. Revenue increased by $3 million to $991 million. The company confirmed its full-year guidance, projecting diluted earnings per share excluding special items between $3.30 - $3.70. Net cash from operating activities declined to $141 million, influenced by reduced operating income and increased cash payments. SCI remains optimistic about growing revenue despite challenges from the ongoing pandemic.
Service Corporation International (SCI) has renewed its partnership with the Tragedy Assistance Program for Survivors (TAPS) by contributing $250,000 to support military loss survivors. This brings their total investment to $500,000 to date. The funds will enhance programs and resources aiding survivors in coping with grief. This partnership reflects SCI's commitment to honoring the sacrifices of military families through various support initiatives.
FAQ
What is the current stock price of Service Corporation International (SCI)?
What is the market cap of Service Corporation International (SCI)?
What services does Service Corporation International provide?
What is the Dignity Memorial® brand?
How many locations does Service Corporation International operate?
Where is Service Corporation International headquartered?
How has SCI performed financially recently?
What is the outlook for Service Corporation International in 2024?
What are SCI’s recent achievements?
How can I learn more about SCI or the Dignity Memorial® services?
How does SCI contribute to shareholder value?
What is SCI’s long-term strategy?
