Service Corporation International (SCI) has reported its financial results for the first quarter of 2024, showing a positive start to the year. Chairman and CEO, Tom Ryan, expressed pride in the company's performance, stating, "Today we are proud to start off the year with earnings per share of $0.89 and net cash provided by operating activities of $220 million." Ryan attributed these results to the strong performance in the cemetery segment, with notable growth in preneed cemetery sales production and comparable cemetery revenue and gross profit.
Acknowledging the efforts of the company's 25,000 associates, Ryan emphasized their commitment to providing excellent service to client families. He also reiterated SCI's focus on long-term growth strategies, highlighting the continued revenue growth, leverage of scale, and wise capital allocation to enhance shareholder value.
The outlook for 2024 remains positive, with SCI confirming that the annual guidance ranges have not changed and are consistent with the previously reported outlook. The company's forecast for net cash provided by operating activities excludes special items related to legal charges recognized in the previous year.
SCI will host a conference call on May 2, 2024, at 8:00 a.m. Central Time to discuss these financial results further. The call will include a presentation by management followed by a question and answer session. Participants can access the call through dial-in numbers or via the company's website.
Service Corporation International, headquartered in Houston, Texas, is known for providing funeral, cemetery, and cremation services, as well as final-arrangement planning. The company serves over 600,000 families annually, offering a range of choices to meet various needs. Their Dignity Memorial® brand is recognized for its professionalism, compassion, and attention to detail.
For more information about Service Corporation International and its services, visit their website.