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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 (SCI) plans to release its second quarter 2022 financial results on August 2, 2022. A conference call for discussing these results is scheduled for August 3, 2022, at 8:00 a.m. Central Time. Interested parties can listen via phone or streaming on the SCI website. SCI, as North America's leading provider of funeral and cemetery services, operates 1,459 funeral locations and 488 cemeteries across various states and regions.
Service Corporation International (NYSE: SCI) announced a quarterly cash dividend of $0.25 per share, payable on June 30, 2022 to shareholders of record by June 15, 2022. The company also increased its share repurchase authorization by $394 million, totaling $600 million available for buybacks. While the intent is to continue regular dividends, future payments depend on the Board's review of financial performance. These decisions could be affected by financial conditions and regulatory factors.
Service Corporation International (NYSE: SCI) reported a strong start to 2022 with an adjusted earnings per share of $1.34, up $0.02 from last year. Revenue grew $34 million, totaling $1,112 million in Q1 2022, driven by increased funeral services and preneed sales. The company raised its full-year adjusted earnings guidance by $0.50 to $3.50 and adjusted operating cash flow guidance by $75 million to $775 million. The positive performance aligns with strong customer demand in the funeral and cemetery sectors.
Service Corporation International (NYSE: SCI) will release its first quarter 2022 financial results on May 3, 2022. A conference call to discuss these results is scheduled for May 4, 2022, at 8:00 a.m. Central Time. Investors can join the call by dialing (877) 870-4263 or through the company’s website. The event will feature discussions on SCI’s earnings, business performance, and a Q&A session. These updates come as SCI continues to serve over 600,000 families annually across North America, with a wide range of funeral and cremation services.
Service Corporation International (NYSE: SCI) announces a $500,000 contribution to Donate Life America to support organ, eye, and tissue donation initiatives. This includes a $250,000 donation marking their renewal as a Donate Life Platinum Partner during National Donate Life Month starting April 1. Over the past two years, SCI's total donations to DLA amount to $500,000. The funds will enhance awareness and improve donor processes. SCI's Dignity Memorial brand has also supported the Donate Life Rose Parade Float for 14 years, honoring organ donors.
Service Corporation International (NYSE: SCI), North America's leading deathcare provider, is set to host its 2022 Investor Day on May 5, 2022, from 8:30 a.m. to 11 a.m. central time in Houston. The event will feature presentations from President and CEO Tom Ryan and CFO Eric Tanzberger, focusing on the company's multi-year growth strategies. Attendees can participate in-person at the Westin Hotel or via live webcast. A tour of a premier funeral location is scheduled for May 4. Registration is required for both the event and the tour.
Service Corporation International (NYSE: SCI) announced a 9% increase in its quarterly cash dividend to 25 cents per share, up from 23 cents. This dividend, payable on March 31, 2022, is for shareholders on record by March 15, 2022. While the company aims to maintain regular dividends, future payments depend on the Board's review of financial performance. The announcement emphasizes the company’s commitment to returning value to shareholders despite uncertainties affecting future dividends.
Service Corporation International (SCI) reported Q4 2021 earnings with a diluted EPS of $1.24, a 7.8% increase from Q4 2020. Revenue surged 8% to $1,043 million, driven by strong funeral services and preneed sales. Operating income rose 4.9% to $298.5 million, while net income reached $206.5 million. The firm acquired 28 funeral homes and 2 cemeteries for $112 million. For 2022, adjusted EPS guidance improved to a range of $2.80 - $3.20, reflecting optimism amid ongoing pandemic impacts.
Service Corporation International (NYSE: SCI) will release its fourth quarter 2021 financial results on February 14, 2022. A conference call hosted by company management is scheduled for February 15, 2022, at 8:00 a.m. Central Time. Interested parties can participate via dial-in numbers or listen live on the company’s website. SCI is North America's leading provider of funeral and cemetery services, serving around 500,000 families annually. The company operates 1,471 funeral locations and 488 cemeteries across the U.S. and Canada.
Service Corporation International (NYSE: SCI) has declared a quarterly cash dividend of 23 cents per share, payable on December 31, 2021, to shareholders of record by December 15, 2021. The company aims to continue regular dividends, subject to Board review. Additionally, SCI has increased its stock repurchase authorization by $400 million, adding to the $200 million remaining from the previous program, totaling $600 million available for repurchases. This reflects SCI's commitment to enhancing shareholder value.
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