SCI Q3 Earnings Match Estimates, Funeral Revenues Increase Y/Y

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Service Corporation International SCI posted third-quarter 2024 results, wherein the top and bottom lines increased year over year.Management is encouraged by the favorable impact on funeral revenues ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSCI Q3 Earnings Match Estimates, Funeral Revenues Increase Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-31 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/sci-q3-earnings-match-estimates-153000659.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Service Corporation International SCI posted third-quarter 2024 results, wherein the top and bottom lines increased year over year.Management is encouraged by the favorable impact on funeral revenues ...</p>\n\n<a href=\"https://finance.yahoo.com/news/sci-q3-earnings-match-estimates-153000659.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MKC","symbol_name":"味好美","start_time":0,"source_url":"https://finance.yahoo.com/news/sci-q3-earnings-match-estimates-153000659.html","article_id":"2480066051","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/bTXOwOl6AJsPEyKeN2lXxg--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/eb87bc3459aa42df8e485af9d9262675"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480066051","pubTimestamp":1730388600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Service Corporation International SCI posted third-quarter 2024 results, wherein the top and bottom lines increased year over year.Management is encouraged by the favorable impact on funeral revenues resulting from its new marketing partnership with a preferred preneed insurance provider, which was launched in the third quarter. Both funeral and cemetery gross profits remained relatively stable year over year, with modest revenue improvement reflecting the company’s ongoing focus on fixed cost management.The company also remained very proactive on the acquisition front in the quarter, with strategic additions in key metropolitan markets. The company invested $123 million to acquire 10 funeral homes and two cemeteries, including one combination location. An additional $31 million was allocated for real estate transactions to expand funeral home and cemetery locations.For 2025, the company plans to return to the high end of its long-term growth target of 8-12%. Management remains committ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MKC":"味好美","MTCH":"Match Group, Inc.","BRFS":"BRF SA"},"translate_title":"SCI第三季度盈利符合预期，殡葬收入同比增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTCH":1,"BRFS":0.9,"MKC":0.9},"content_text":"Service Corporation International SCI posted third-quarter 2024 results, wherein the top and bottom lines increased year over year.Management is encouraged by the favorable impact on funeral revenues resulting from its new marketing partnership with a preferred preneed insurance provider, which was launched in the third quarter. Both funeral and cemetery gross profits remained relatively stable year over year, with modest revenue improvement reflecting the company’s ongoing focus on fixed cost management.The company also remained very proactive on the acquisition front in the quarter, with strategic additions in key metropolitan markets. The company invested $123 million to acquire 10 funeral homes and two cemeteries, including one combination location. An additional $31 million was allocated for real estate transactions to expand funeral home and cemetery locations.For 2025, the company plans to return to the high end of its long-term growth target of 8-12%. Management remains committed to its growth strategy, focused on increasing revenues, leveraging its unmatched scale and making strategic capital investments to enhance shareholder value.\n\nService Corporation International Price, Consensus and EPS Surprise \nService Corporation International price-consensus-eps-surprise-chart | Service Corporation International Quote\n\nSCI’s Quarterly Performance: Key Insights\nSCI posted adjusted earnings of 79 cents per share, which came in line with the Zacks Consensus Estimate while increasing from 78 cents reported in the year-ago period. The gross profit remained flat in the cemetery and funeral segments. A lower share count and a reduced tax rate were offset by elevated corporate general and administrative expenses and slightly increased interest expenses.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Total revenues of $1,014 million increased from $1,001.9 million reported in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $1,012 million.The gross profit was $252.3 million compared with $253.7 million reported in the year-ago quarter. Corporate general and administrative costs were $43.7 million, higher than the year-ago period figure of $33.2 million. The uptick was mainly due to expenses related to a long-term incentive compensation plan.The operating income of $212.4 million declined from $223 million reported in the year-ago quarter.\nDecoding SCI’s Segment-Wise Results\nConsolidated Funeral revenues came in at $566 million in the quarter compared with $554.8 million reported in the year-ago period. Total comparable funeral revenues rose 1.3%. The upside was backed by a $4.4 million rise in core funeral revenues and a $7.6 million increase in core general agency revenues and other revenues. This was somewhat negated by a $5.5 million drop in non-funeral home preneed sales revenues.Core funeral revenues climbed 1% due to 2.1% growth in core average revenues, partially hurt by a 1.1% dip in core funeral services performed. The core cremation rate rose by 30 basis points (bps) to 56.8%.Non-funeral home preneed sales revenues dropped by 17.2% due to a fall in non-funeral home preneed sales production. Comparable preneed funeral sales production tumbled 7.1%. Core preneed sales production fell 6% due to a shift to a new preneed insurance provider. Non-funeral home preneed sales production decreased 10.4% because of a shift from trust to insurance-funded contracts.Comparable funeral gross profit came in at $107.4 million, down by $1.5 million. The gross profit contracted 50 bps to 19.3%.Consolidated Cemetery revenues came in at $448 million compared with $447.1 million reported in the year-ago quarter. Total comparable cemetery revenues remained flat year over year as lower core revenues were countered by higher other revenues. The $4.8 million decline in core revenues stemmed from a fall in atneed revenues and decreased total recognized preneed revenues. Increased recognized preneed merchandise and service revenues were also negated by a decline in recognized preneed property revenues.Comparable preneed cemetery sales production dropped 2.5% due to a decline in large sales. Core preneed cemetery sales production was flat year over year.Comparable cemetery gross profit came in at $144.9 million, up $0.6 million. The gross profit margin expanded by 10 bps to 32.4%.\nService Corporation: Other Financial Aspects\nThe company ended the quarter with cash and cash equivalents of $185.4 million, long-term debt of $4,743.7 million and total equity of $1,627.8 million.Net cash from operating activities amounted to nearly $681 million during the nine months ended Sept. 30, 2024. During the same period, the company incurred total capital expenditures of $276.8 million.\nWhat to Expect From SCI in 2024?\nFor the fourth quarter of 2024, management envisions adjusted earnings per share (EPS) of $1-$1.10, indicating about 8-18% growth from the year-ago period’s figure of 93 cents.Net cash provided by operating activities (excluding special items and cash taxes) is anticipated in the range of $240-$255 million in the fourth quarter. Net cash provided by operating activities (excluding special items) is expected in the range of $230-$250 million. Management expects total maintenance capital expenditures of roughly $80 million for the quarter.For full-year 2024, Service Corporation now expects adjusted EPS in the range of $3.47-$3.57 compared with the previous guidance of the lower half of the $3.50-$3.80 band.With an outlook of sustained robust operating cash flow and anticipated strong fourth-quarter growth in adjusted earnings per share, the company is raising its full-year 2024 adjusted operating cash flow guidance midpoint from $930 million to $950 million. The updated guidance range is now $940-$960 million, up from the previous $900 million-$960 million range.Management continues to expect total maintenance capital expenditures of $325 million for 2024.Shares of this Zacks Rank #3 (Hold) company have risen 6.7% in the past six months compared with the industry’s growth of 6.2%.\nStocks to Consider\nFreshpet FRPT manufactures, distributes and markets natural fresh meals and treats for dogs and cats. It currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for FRPT’s current financial-year sales and earnings indicates advancements of 26.1% and 202.9%, respectively, from the prior-year figures. Freshpet has a trailing four-quarter earnings surprise of 132.9%, on average.BRF BRFS, which produces and slaughters poultry and pork for processing, production and sale of fresh meat, processed products, pasta, margarine, pet food and other products, currently sports a Zacks Rank #1. BRFS delivered a positive earnings surprise of 57.1% in the last reported quarter.The Zacks Consensus Estimate for BRF’s current financial-year sales and earnings implies growth of 14.7% and 256.7%, respectively, from the year-ago reported numbers.McCormick & Company, Inc. MKC is a leading manufacturer, marketer and distributor of spices, seasonings, specialty foods and flavors. It currently carries a Zacks Rank #2 (Buy).The Zacks Consensus Estimate for McCormick & Company’s current fiscal-year sales and earnings indicates advancements of 0.6% and 8.2%, respectively, from the year-ago reported figures. MKC has a trailing four-quarter earnings surprise of 13.8%, on average.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nFreshpet, Inc. (FRPT) : Free Stock Analysis Report\nMcCormick & Company, Incorporated (MKC) : Free Stock Analysis Report\nBRF S.A. (BRFS) : Free Stock Analysis Report\nService Corporation International (SCI) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480066051"}