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Sep 30, 2024
Service Corp Intl Q3 2024 Earnings Report
Reported third quarter results with revenue growth and stable gross profit.
Key Takeaways
Service Corporation International reported a revenue increase of $12.1 million compared to Q3 2023, with adjusted earnings per share at $0.79. The company saw positive impacts from a new marketing agreement and maintained stable gross profit margins while actively pursuing acquisitions.
Revenue grew by $12.1 million compared to the third quarter of 2023.
Earnings per share was $0.81, slightly up from $0.80 in the same quarter last year.
Adjusted earnings per share reached $0.79, compared to $0.78 in the third quarter of 2023.
Net cash provided by operating activities increased by 16% to $263.8 million.
Revenue by Segment
Forward Guidance
SCI anticipates adjusted earnings per share between $1.00 and $1.10 for Q4 2024, projecting an 8-18% growth compared to Q4 2023. The full-year adjusted earnings per share is expected to be in the range of $3.47 to $3.57. The adjusted operating cash flow guidance is raised to a range of $940 million to $960 million.
Positive Outlook
- Adjusted earnings per share for Q4 2024 is projected to grow by 8-18%.
- Full year 2024 adjusted earnings per share expected between $3.47 and $3.57.
- Full year 2024 adjusted operating cash flow guidance raised to $940 million - $960 million.
- Maintenance capital expenditures remain unchanged at approximately $325 million for 2024.
- Expect continued strength in operating cash flow.
Challenges Ahead
- Expenses related to weather events and hurricanes.
- Gains or losses associated with asset divestitures.
- Gains or losses associated with the early extinguishment of debt.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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