Service Corporation International ( (SCI) ) has released its Q3 earnings. Here is a breakdown of the information Service Corporation International presented to its investors.
Service Corporation International (SCI), headquartered in Houston, Texas, is the leading provider of funeral, cemetery, and cremation services in North America, serving over 600,000 families annually through its extensive network of 1,495 funeral service locations and 494 cemeteries.
In its third-quarter earnings report for 2024, Service Corporation International announced a modest increase in revenue alongside stable earnings per share compared to the previous year. The company has highlighted strategic initiatives including enhanced marketing agreements and significant acquisition activities within the quarter.
Key financial metrics from the report indicate a revenue growth of $12.1 million over the previous year’s quarter and an increase in net cash provided by operating activities by 16%. Adjusted earnings per share rose slightly to $0.79 from $0.78, while the company invested heavily in acquisitions, totaling $123 million for the quarter. The funeral and cemetery gross profits remained stable, reflecting the company’s focus on managing fixed costs effectively.
In the forward outlook, SCI anticipates a return to the high end of its long-term growth framework by 2025, targeting an 8-12% growth. The management remains optimistic about continuing to leverage its scale and strategic investments to drive shareholder value, while emphasizing the critical role of its workforce in achieving these goals.
