Service Corporation International (SCI) reported quarterly adjusted earnings of $1.06 per share for the quarter ended December 31, 2024, which was higher than the same quarter last year, when the company reported EPS of $0.931. Despite the improvement year-over-year, the latest report period's earnings fell short of analysts' expectations, as the mean expectation for the quarter was $1.05 per share1.
The decline in earnings relative to expectations can be attributed to Challenges in Non-Funeral Home Preneed Sales Revenue. The company's direct non-funeral home revenue decreased by over $4 million, primarily driven by a $6 million decline in non-funeral home preneed sales revenue. This transition to a new preneed insurance provider has posed a challenge for future sales growth2.
In summary, while SCI's Q3 earnings showed an improvement compared to the previous year, they fell short of expectations due to specific revenue declines and operational challenges.
4/6/2025 04:29am
