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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.
Service Corp Intl
Service Corp Intl
Service Corp Intl Revenue by Segment
Revenue by Segment
Total Funeral Revenue
CapyFin.comTotal Cemetery Revenue
CapyFin.com 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.
- Potential tax reserve adjustments and IRS payments and/or refunds.
- Acquisition and integration costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income