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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 (NYSE: SCI) is set to release its first quarter 2021 financial results on May 3, 2021. A conference call with management will follow on May 4, 2021, at 8:00 a.m. Central Time, where details on earnings will be discussed. The call can be accessed via dial-in or live webcast on the company's website. As of March 31, 2021, SCI operates 1,461 funeral homes and 484 cemeteries across North America, serving approximately 500,000 families yearly under the Dignity Memorial® brand.
Service Corporation International (NYSE: SCI) announced a $250,000 grant to the National Alliance for Grieving Children (NAGC) to support grief programs for children and teens. The funding aims to develop new grief support materials to assist young individuals coping with loss. SCI's COO, Jay Waring, emphasized the importance of addressing grief in children who often feel isolated. Dignity Memorial locations also provide a 24-hour Compassion Helpline and the Dignity Memorial Guidance Series, enhancing their support for grieving families.
Service Corporation International (SCI), North America's largest provider of funeral, cemetery, and cremation services, has announced a partnership with the Tragedy Assistance Program for Survivors (TAPS). SCI will contribute $250,000 to support programs aiding individuals grieving military losses. This partnership underscores SCI's commitment to honoring military families through initiatives like the Dignity Memorial Homeless Veterans Burial Program and collaborations with veteran organizations. TAPS offers free support to families of fallen military members, including grief counseling and peer support.
Service Corporation International (SCI) announced a quarterly cash dividend of $0.21 per share, payable on March 31, 2021, to shareholders of record by March 15, 2021. The company emphasizes its intention to continue regular quarterly dividends, subject to quarterly review by its Board of Directors. While the dividend reflects SCI's commitment to returning value to shareholders, future payments depend on financial performance and other factors. Any determination against declaring a dividend could impact shareholder returns.
Service Corporation International (SCI) reported a strong fourth quarter for 2020, with revenue rising by $120 million (14%) to $970 million. Fourth quarter earnings per share were $1.15, with adjusted earnings up $0.53 year-over-year to $1.13. The increase was attributed to elevated COVID-19 mortality rates, leading to more funeral services and burials. Operating cash flow increased by $88 million (56%) to $245 million. Looking ahead, the company estimates diluted earnings per share for 2021 between $2.50 and $2.90, despite potential challenges from ongoing pandemic impacts.
Service Corporation International (NYSE: SCI), North America's largest provider of funeral and cemetery services, has partnered with Donate Life America (DLA) with a $250,000 donation. This partnership aims to enhance awareness of organ, eye, and tissue donation as National Donor Day approaches on February 14, 2021. SCI has supported DLA for 13 years, sponsoring the Donate Life Rose Parade Float. Their collaboration focuses on increasing donor registration and supporting donor families, highlighting SCI's commitment to the cause of organ donation.
Service Corporation International (NYSE: SCI) will release its fourth quarter 2020 financial results on February 15, 2021. A conference call hosted by SCI Management is scheduled for February 16, 2021, at 8:00 a.m. Central Time. Investors can participate via dial-in numbers or listen live on the company's website. SCI operates 1,470 funeral service locations and 483 cemeteries across North America, promoting the Dignity Memorial® brand which emphasizes quality and customer satisfaction.
Service Corporation International (NYSE: SCI) is partnering with the Tragedy Assistance Program for Survivors (TAPS) for a matching donation campaign on Giving Tuesday, December 1. SCI will match donations up to $25,000, providing support for 250 military loss survivors for one year. Donations can be made from November 25 to December 4 to qualify for matching funds. SCI emphasizes its commitment to veterans and their families, promoting community involvement in this initiative aimed at offering grief resources.
Service Corporation International (NYSE: SCI) has announced a 10.5% increase in its quarterly cash dividend, raising it to 21 cents per share, up from 19 cents. This dividend is payable on December 31, 2020, to shareholders on record by December 15. The decision demonstrates the company's strong financial performance and commitment to returning value to shareholders. However, future dividends depend on the Board's review of the company's financial condition.
Service Corporation International (SCI) reported third quarter 2020 financial results showing adjusted earnings per share of $0.79, a $0.42 increase year-over-year. Revenue rose by $149 million to $918 million, driven by higher funeral services and cemetery burials due to COVID-19. Preneed cemetery sales jumped 47%, enhancing growth metrics. Operating income surged to $223.2 million. However, higher tax payments and working capital changes negatively impacted cash flow, which decreased to $195.1 million. Revised earnings guidance for 2020 is $2.50 - $2.75.
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