"We help celebrate lives that have been lived and preserve memories that transcend generations with dignity and honor."
At least that's Service Corporation's slogan, and welcome to a brief introduction to the company.
What is SCI?
The story begins in 1962 as a family-owned and operated funeral home in Houston, Texas. Through the visionary leadership of founder and Chairman Emeritus Robert L. Waltrip, SCI is now North America's largest provider of funeral, cemetery and cremation services. Throughout its history, the company has operated with one guiding purpose - to provide compassionate care to families during difficult times.
Mr. Waltrip envisioned a company with streamlined operations and reduced overhead that would enhance the quality of services provided to families. After the plan proved effective in Houston in the early 1960s, Mr. Waltrip and a small group of employees set out to apply this strategy through acquisitions in other markets. This began a decade-long expansion to create a network of more than 1,900 funeral home, cemetery and crematory locations across North America.
In 2000, SCI reevaluated its long-term strategy and streamlined its operating and organizational structure to reduce expenses, lower debt and increase cash flow. Over the next several years, the company acquired Alderwoods Group, Keystone North America, The Neptune Society, Inc. and Stewart Enterprises, Inc. expanding its geographic footprint to 44 states, the District of Columbia and eight Canadian provinces.
As a company with solid financials, exclusive products and customer benefits, and best-in-class policies, training and professional standards, we are uniquely positioned to provide compassionate care and service excellence to families across North America for generations to come.
Short and sweet !
Service Corporation International (SCI) is North America's largest provider of funeral and cemetery services, with shares trading on the New York Stock Exchange under the symbol SCI. The company was founded in 1962 and is headquartered in Houston, Texas. We currently own and operate more than 1,900 funeral homes and cemeteries in 44 states, eight Canadian provinces, the District of Columbia and Puerto Rico.
Important information for the 2nd quarter
- Revenue grew by 20.6 million dollars in the second quarter of 2023
- Earnings per share were $0.81 compared to $0.86 in the second quarter of 2023
- Adjusted earnings per share amounted to $0.79 compared to $0.83 in the second quarter of 2023
- Net cash provided by operating activities was $196.9 million in the current year quarter compared to $144.1 million in the prior year quarter
- Net assets provided by operating activities excluding special items amounted to 219.9 million dollars in the current year quarter, compared to 157.4 million dollars in the prior year quarter.
- Comparable core funeral home sales production increased $9.7 million, or 4.0%, in the current quarter
- Comparable core funeral sales increased 1.3% in the current quarter
Source: sci-corp.com