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 (SCI) plans to release its third quarter 2020 financial results on October 28, 2020, after market close. A conference call is scheduled for October 29, 2020, at 8:00 a.m. CT, where management will discuss the results. Interested parties can join the call by dialing (888) 609-1607 (international: (862) 298-0705) or via the company's website. Replay of the call will be available through January 27, 2021. SCI operates 1,470 funeral service locations and 483 cemeteries across North America, marketing under the Dignity Memorial® brand.
Service Corporation International (SCI) announced a quarterly cash dividend of 19 cents per share, payable on September 30, 2020. Shareholders should be of record by September 15, 2020. The company aims to maintain regular dividends, subject to Board approval after financial performance reviews. Additionally, SCI expanded its share repurchase program by $431 million, totaling $500 million in buyback authority, which may enhance shareholder value.
Service Corporation International (NYSE: SCI) announced its intention to redeem all outstanding 5.375% Senior Notes due 2024 on September 9, 2020. The redemption will occur at a price of 101.792%, plus any accrued interest. Payment will be made upon the presentation and surrender of the notes to The Bank of New York Mellon Trust Company, N.A. This announcement is not a solicitation to purchase securities and includes forward-looking statements which are subject to various risks. For more detailed information, refer to SEC filings on SCI’s website.
Service Corporation International (NYSE: SCI) announced the successful completion of a public offering of $850 million in 3.375% Senior Notes due 2030. The offering, part of an underwritten public offering under an SEC registration, will utilize net proceeds and cash reserves to repurchase $850 million of existing 5.375% Senior Notes due 2024. BofA Securities acted as the lead manager for this offering. The press release contains forward-looking statements that involve risks and uncertainties. For more details, visit the company's SEC filings.
Service Corporation International (SCI) announced the expiration of its cash tender offer for 5.375% Senior Notes due 2024 on August 7, 2020. A total of $215,959,000 (25.41%) of the Notes were validly tendered. The company will pay $1,020.42 for each $1,000 principal amount of the Notes accepted, plus accrued interest. Settlement is expected on August 10, 2020. Holders of unaccepted Notes may face redemption. The offer's acceptance is subject to certain conditions detailed in the Offer Documents. The tender offer is not a recommendation to sell any securities.
Service Corporation International (NYSE: SCI) priced an underwritten public offering of $850 million in 3.375% Senior Notes due 2030. The offering is set to close on August 10, 2020, pending standard conditions. Proceeds will be used to repurchase $850 million in existing 5.375% Senior Notes due 2024. BofA Securities is the lead manager for this offering. The company emphasizes that this release does not constitute an offer to sell or buy the securities mentioned.
Service Corporation International (SCI) announced a cash tender offer to repurchase its $850 million 5.375% Senior Notes due 2024. The offer, detailed in the Offer to Purchase dated August 3, 2020, includes a consideration of $1,020.42 for each $1,000 principal amount of Notes tendered. The tender offer will expire on August 7, 2020, at 5:00 p.m. New York City time. The proceeds from a proposed capital markets transaction will be used to fund the tender offer. Holders of purchased Notes will receive accrued interest up to the payment date, expected on August 10, 2020.
Service Corporation International (NYSE: SCI) plans to offer $850 million in senior notes through a public offering, pending market conditions. The proceeds will be used to repurchase $850 million of existing senior notes due 2024 and to cover related fees. BofA Securities will lead the offering. The press release includes cautionary forward-looking statements regarding potential risks affecting future results. SCI operates 1,472 funeral service locations and 483 cemeteries across North America, under the Dignity Memorial® brand.
Service Corporation International (SCI) reported strong second-quarter 2020 results amid the COVID-19 pandemic. The company achieved a GAAP earnings per share of $0.59, and adjusted EPS rose by 23% to $0.58. Revenue increased to $820 million, up from $812.6 million in the previous year, driven by a 23.4% growth in comparable funeral gross profit. Notably, net cash provided by operating activities surged by 136% to $184.3 million. Looking ahead, SCI has issued 2020 guidance for adjusted EPS between $1.78 and $2.00, amid ongoing economic uncertainty.
Service Corporation International (NYSE: SCI) will announce its second quarter 2020 earnings on July 29, 2020, post-market. The conference call for investors will be held on July 30, 2020, at 8:00 a.m. Central Time. Interested parties can join the call by dialing (888) 317-6003, with international callers using (412) 317-6061. A replay of the call will be available until August 6, 2020. SCI is a leading provider of deathcare products and services in North America, operating 1,472 funeral homes and 483 cemeteries.
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?
