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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) reported strong Q3 2021 results with earnings per share of $1.23 and adjusted earnings per share soaring 47% year-over-year to $1.16. Revenue increased by $116 million to $1.03 billion, with gross profit rising $69 million. The company raised its full-year adjusted EPS guidance by $0.95 to $4.30 and adjusted operating cash flow guidance by $150 million to $888 million, driven by increased funeral services and strong cemetery sales.
Service Corporation International (NYSE: SCI) is set to release its third-quarter 2021 financial results on October 27, 2021. A conference call will follow on October 28, 2021, at 8:00 a.m. CT. Investors can participate by dialing in or via a live webcast available on the SCI website. Currently, SCI operates 1,453 funeral service locations and 485 cemeteries across North America, serving about 500,000 families annually. More details on the earnings call and the company's financial health will be discussed during the presentation.
Service Corporation International (NYSE: SCI), a leading provider of deathcare services in North America, has announced a quarterly cash dividend increase from twenty-one cents to twenty-three cents per share, marking a 9.5% increase. This dividend is payable on September 30, 2021, to shareholders recorded by the close of business on September 15, 2021. The company intends to continue issuing dividends, though future declarations depend on the Board's review of financial performance. Risks include potential restrictions on dividend payments and changes in cash availability.
Service Corporation International (SCI) reported robust Q2 2021 results, with earnings per share of $0.92, up from $0.59 in Q2 2020. Revenue increased by $168 million year-over-year, totaling $988 million. Notable growth in preneed cemetery sales at $94 million (36%) and preneed funeral sales at $106 million (57%) significantly contributed to performance. SCI raised its full-year EPS guidance to $3.35 and operating cash flow guidance to $737.5 million, reflecting a strong outlook despite pandemic uncertainties.
Service Corporation International (NYSE: SCI) will announce its second quarter 2021 financial results on July 28, 2021, followed by a conference call on July 29, 2021. The call is set for 8:00 a.m. Central Time, with dial-in options provided for participants. The company operates as a major provider of funeral and cemetery services in North America, serving around 500,000 families annually with a network of 1,458 funeral locations and 485 cemeteries as of June 30, 2021. For further details, visit their official website.
Service Corporation International (SCI) has completed a public offering of $800 million in 4.000% Senior Notes maturing in 2031. The proceeds will be allocated to redeem existing 8.000% Senior Notes due 2021, repay loans from its revolving credit facility, and cover related fees. Any remaining funds will be used for general corporate purposes. J.P. Morgan served as the lead manager for this offering. The company operates 1,461 funeral homes and 484 cemeteries across North America.
Service Corporation International (NYSE: SCI) announced a quarterly cash dividend of 21 cents per share, payable on June 30, 2021, to shareholders of record on June 15. The company also approved a share repurchase increase of $414 million, bringing the total repurchase authority to $500 million.
These actions reflect SCI's commitment to returning value to shareholders, although future dividends are subject to board approval based on financial performance.
Service Corporation International (NYSE: SCI) announced an underwritten public offering of $800 million in 4.000% Senior Notes due 2031. This offering is set to close on May 24, 2021, pending customary conditions. The net proceeds will be used to redeem existing 8.000% Senior Notes due 2021, repay revolving credit loans, and for general corporate purposes. J.P. Morgan leads the offering, which is part of an effective shelf registration with the SEC.
Service Corporation International (NYSE: SCI) announced a planned offering of $800 million in senior notes, subject to market conditions. The proceeds will be utilized to redeem existing 8.000% Senior Notes due in 2021, repay loans under its revolving credit facility, and cover related expenses. J.P. Morgan is leading the offering. This move is part of the company's financial strategy to manage debt effectively.
Service Corporation International (NYSE: SCI) reported strong first-quarter 2021 results, showing earnings per share (EPS) of $1.33 and net cash from operating activities of $298 million. EPS increased by $0.88 due to a 67% growth in comparable preneed cemetery sales, totaling $130 million. Revenue rose $275 million to $1.1 billion. The company has also revised its full-year EPS guidance to $2.70 - $3.00. Key metrics indicate significant operational improvements despite ongoing pandemic challenges.
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