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Service Corporation's (SCI) first-quarter 2024 results reflect higher Cemetery revenues, whereas the Funeral segment's revenues decline.
Although the revenue and EPS for Service Corp. (SCI) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Service Corp. (SCI) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.93 per share a year ago.
Service Corp. International is on the back end of the post-pandemic excess death increase and is reaching a more normalized growth rate. SCI anticipates a healthy 2-5% same-store-sales growth range for eFY24 as the firm adjusts inventory to better cater to the changing market. Revenue per funeral continues to increase year over year as higher tier individuals seek to use SCI's more premium funeral service offerings.
Service Corporation's (SCI) first-quarter 2024 performance will likely reflect the adverse impact of moderation in consumer discretionary spending amid the rising interest rate environment.
Service Corporation (SCI) benefits from its growth strategies and Cemetery unit strength amid soft Funeral segment revenues.
Service Corporation (SCI) benefits from high Cemetery segment revenues and a focus on expanding its network. However, Funeral segment revenues have been declining.
Service Corp. (SCI) reported earnings 30 days ago. What's next for the stock?
Service Corp. (SCI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Service Corp (SCI) announces a dividend increase, showcasing its commitment to delivering value to its shareholders.